Di
February 10th, 2012 by Questions
After bankruptcy i found that i can claim a Disabliltiy Credit on my taxes for a child. In fact i am entitled to go back 10 yrs. Would the whole refund go into my bankruptcy? And if so could i delay applying until i am discharged and keep it.
Posted from: British Columbia
One Response to “Di”
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February 10, 2012 at 7:55 am, A licensed trustee said:
It won’t matter when you apply for the retro-active disability benefit for your child – any refunds that relate to the year you filed bankruptcy and ALL PREVIOUS YEARS will be sent to your trustee for the benefit of your unsecured creditors. You may as well call your trustee and ask them to file the paperwork for you (since they are going to receive the refunds). Waiting until you have been discharged will make no difference… The reasoning goes something like this, “if you had received the refunds during the earlier years then perhaps you wouldn’t have accumulated as much debt, or maybe you would have used to refunds to pay down the debt”.