Friday, December 2, 2011 by
Kent Millward
If you are contemplating filing for bankruptcy, doing so before the end of the calendar year may have some advantages because your bankruptcy case will generally be shorter. However, depending on the size of your expected tax refund, filing before the end of the year could cause you to lose both your state and federal tax refunds.
When an individual files Chapter 7 bankruptcy, the filing date creates a “line in the sand,” where all property and earnings the...
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