Things To Know In Active Chapter 13

Here are a few things to keep in mind now that you are in active Chapter 13 bankruptcy:

• Please make sure your tax withholdings are set for your correct tax liability. The goal is to make sure you don’t owe anything to the IRS or State Franchise Tax Board or get too much of a refund (max $2,000).
• If you owe for a tax year while in Chapter 13 bankruptcy, the IRS could move to dismiss your case. Likewise, if you receive too much of a refund, the Trustee will seize anything over $2,000. Please contact a tax professional to assist you with this.
•  If you lose your employment, you get a raise or a bonus, or you take on another job, please notify our office as soon as you can. We will assess if there is any action that needs to be taken.
•  If you receive inheritance, please notify our office as soon as you can. We will assess if there is any action that needs to be taken.
• If you want to sell your car, home, or sell any item above $1,000, please let our office know beforehand. These actions require court approval prior to the sale. Try and let our office know as soon as you can, so we can start the process.
• If you want to receive a loan above $1,000 (i.e. car loan, mortgage, etc.), please let our
  office know. These actions require court approval prior to receiving the loan. Try and let
  our office know as soon as you can, so we can start the process.

Please make sure the Trustee receives your monthly plan payment before the 25th. If you
use the TFS automatic payment system, it is best to try and set the payment 7-10 days
before the 25th to allow enough time for processing. Please reach out to our office as soon
as possible if your payment will be late to the Trustee.
Contact your Yuba City bankruptcy attorney today to find out what a chapter 13 bankruptcy would like for you at 530-797-4402.