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yes they do take your child tax. i just payed mine and now they are wanting my car i payed off. I am trying to find out how to get it so they can not take my only car.They told me that is the car is more then 1000.00 they can take it
First, State isn't important. It depends on what Federal circuit court you file in (Bankruptcy is a federal law, an while circuits define somethings differently, it may not be too substantial a difference).
It is true that most circuits have determined that the tax credit is part of the bankruptcy assets. However, some portions of the credit may not be, and like anything to do with the taxes of a bankrupt, which portion are from before and which portion are from after your filing is important (taxes from before filing are part of the BK, after, not).
Wiki User
∙ 16y ago
Wiki User
∙ 16y agoThere seems to be some discretion on this applied by the Trustee. along with when you filed being relevant (if you filed in January, virtually none of the EIC was yet earned so it is all post potition and exempt, however in Dec., it virtually all was earned prepetition).
There are distinctions between the voluntary and involuntary portions too.
But basically, Indiana exempts debtor's earned income credit (See IC 34-55-10-2(c)(10) and Trustee's generally do not go after refunds less than $2,000 to $3,000.
Wiki User
∙ 17y agoPer changes to the statute last year, the tax credit is exempt from seizure by the bankruptcy trustee.
Wiki User
∙ 9y agoNo, child tax credit is not exempt from bankruptcy in the state of Colorado. Just like all other states within the US, child tax credit has no exemptions.
Wiki User
∙ 12y agoAs to the earned income credit, the answer is yes.
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How long is bankruptcy on credit report in Ohio?
10 years
Is earned income tax exempt from bankruptcy in Ohio?
All money is income in bankruptcy. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
What property is exempt from collection in Ohio?
Property exempt from lawsuit judgment is the same that is allowed in bankruptcy. Unfortunately, Ohio law gives the consumer very poor protection from judgment creditors. Basics: Homestead exemption $5,000. Private disability benefits, $600 (monthly) Personal property not to exceed a combined total of $2000. "Wild Card" any property not to exceed the amount of $400. Federal non bankruptcy exemptions are applicable (such as Social Security, pension benefits, etc.
Can a disabled person's pension be garnished by credit card companies in the state of Ohio?
All public and private disability benefits are exempt from creditor garnishment. All SS, SSI, SSD SSID benefits, military pensions and most private pensions are exempt from creditor garnishment.
Does the state of Ohio tax widow's benefits?
Social Security benefits are exempt from Ohio state income taxes.
How do I know if I qualify to file bankruptcy in the state of Ohio?
Who really cares
If a bank has been advised that you are filing chapter 7 bankruptcy in Ohio but will reaffirm the car loan can they still repossess the vehicle?
Yes, many loan agreements have a clauses that allows them to call the note due and/or repo the vehicle if there are any singnificant changes to your credit status. Bankruptcy certainly qualifies.
What auto dealers in Ohio deal with the credit acceptance corporation?
what auto dealers in ohio deal with credit acceptance
What does it mean in a chapter 7 Ohio bankruptcy when your vehicles are marked as redeem the property and also marked as non exempt?
It means that you failed to properly exempt the vehicles or their value is in excess of the exemptions available, hence "non-exempt." To keep the vehicles, you must "buy" them from the trustee at an agreed-on price, which means "redeeming" the property from the bankruptcy estate. If you filed without a lawyer, you probably failed to take the exemptions, which is the most common mistake made by do-it-yourselfers. You may be able to amend your Schedule C to take the appropriate exemptions. You are only entitled to one vehicle exemption per person. Other vehicles need to be sold or redeemed.
In Ohio can child support and temporary alimony payments be garnished for a car that was voluntarily repossessed?
No, both are exempt from garnishment by a judgment creditor . Please note, the judgment debtor must claim the allowed exemptions they are not automatically granted by the court.
Can a child in Ohio choose who they live with?
A child in Ohio can choose who they live with depending on the maturity of the child. A judge usually decides what's best for the child and rules on that.
Can you discharge Ohio bureau of workers compensation premiums in a chapter 7 bankruptcy?
I am hoping someone has an answer to this
