Submitted by Anonymous (not verified) on Sun, 02/17/2019 - 23:27
Do I have to pay taxes if I file bankruptcy?
What is forgiveness of debt income?
When you owe money and do not pay the full amount of the debt the lender is required to file a 1099 form with the IRS showing that you had phantom income in the amount the creditor forgave. This is referred to as ‘forgiveness of debt’.
Exceptions to forgiveness of debt:
Submitted by Anonymous (not verified) on Sun, 02/17/2019 - 20:44
At least once or twice a week someone asks if they have to pay a judgment when trying to sell their home.
The answer is probably ‘no’, but depends on certain facts. It depends on the law of the state where the judgment debtor lives. It also depends on the type of assets the judgment debtor has – exempt versus non-exempt.
I want to sell my home but the title company says I have to pay a judgment.
Submitted by Anonymous (not verified) on Sat, 02/16/2019 - 11:31
If you are considering bankruptcy in Seattle, you must already be in a dire financial situation. As such, you probably think it is better if you file bankruptcy on your own to save on attorney’s fees. However, you may not be aware that it is a big and expensive mistake. The fact remains, working with an experienced Seattle bankruptcy attorney will not only save you money but also time and the stress brought about by bankruptcy proceedings.