O
orangeblossom
Guest
What is the name of your state? Texas
My husband has been paying on a Ch 13. He had the BK before we ever met. About one-quarter of the debt on his plan was owed to the IRS. Of course, the BK isn't mine, but I'd always be responsible for IRS debts if something were to happen to my husband.
Sooooo...... He now has about 5 months left to pay on the plan, which was a 5-year one.
We noted that the Trustee never has directly paid the IRS anything, even though they were listed as a "priority claim." Car and a motorcycle were paid off first.
Since getting married, we have had tax refunds for 2000, 2001 (a rather large one), and for 2002. Of course, the IRS took all of these refunds as satisfaction of the debt.
Looks like the BK would have been shortened because of these IRS refunds, but not so. BK's still scheduled for 60 months. My thinking is that other creditors might be paid more than they were expecting, which isn't a bad scenario.
Can anyone answer these questions?
(1) Why wasn't the IRS paid early on? Does a trustee just expect that folks will get tax refunds and that will help satisfy the debt?
(2) What is the likelihood that my husband will get a check for over-payment after the BK is discharged?
My husband has been paying on a Ch 13. He had the BK before we ever met. About one-quarter of the debt on his plan was owed to the IRS. Of course, the BK isn't mine, but I'd always be responsible for IRS debts if something were to happen to my husband.
Sooooo...... He now has about 5 months left to pay on the plan, which was a 5-year one.
We noted that the Trustee never has directly paid the IRS anything, even though they were listed as a "priority claim." Car and a motorcycle were paid off first.
Since getting married, we have had tax refunds for 2000, 2001 (a rather large one), and for 2002. Of course, the IRS took all of these refunds as satisfaction of the debt.
Looks like the BK would have been shortened because of these IRS refunds, but not so. BK's still scheduled for 60 months. My thinking is that other creditors might be paid more than they were expecting, which isn't a bad scenario.
Can anyone answer these questions?
(1) Why wasn't the IRS paid early on? Does a trustee just expect that folks will get tax refunds and that will help satisfy the debt?
(2) What is the likelihood that my husband will get a check for over-payment after the BK is discharged?