Child Credit
We just received a check for $400 for the Child Tax Credit. We plan to file Bk in the next month or two. Can the creditors take it? What can we do with it to make it not get taken?
Answer:
I wouldn't worry about it. Since you have already received it, you would probably just exempt it with the rest of your cash assets. It would be listed elsewhere on your petition if you had not received the check yet. Uness you have a judgment against you, the creditors can't take it. If you haven't spent it by the time you file, it would be included as one of your assets.
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