Posted on: 14th Feb, 2010 01:54 pm
I am about to file bankruptcy 2009 return is $3900 2010 return will be less back, paralegal said only first $1000 can be protected and decide if for 2009 or 2010
As far as I know, the deductions that you would receive after filing taxes can be taken over by the bankruptcy trustee in order to pay off your creditors. Thus, I don't think the deductions would be protected in bankruptcy filing.
No.... although at ur option... u can file an explanation with the credit reporting agencies briefly describing the events resulting in your bankruptcy.....If an account is reported inaccurately.... you can request the record be updated to reflect the actual situation..... :(