Filing Bankruptcy and Keeping Your Tax Refund

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Filing Bankruptcy and Keeping Your Tax Refund

Your ability to keep your tax refund while filing a Chapter 7 Bankruptcy may largely hinge on whether qualify for the Oregon or Washington Bankruptcy exemptions. This is so because there is no exemption in the state of Oregon that allows you to keep your much of your refund; whereas, in Washington there is an exemption available that will normally allow you to keep your refund in full.

Unless you have lived in either Oregon or Washington continuously for the last two years, the determination of which state’s exemptions apply is likely not as simple as you might think. For this reason and many more, discussing your potential refund with an Oregon or Washington Bankruptcy Attorney prior to filing is an important part of bankruptcy planning.  

2010-02-12T08:11:01+00:00
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