Submitted by Anonymous (not verified) on Tue, 08/20/2013 - 22:11
The case of Quartemont v. Commissioner, T.C. Summary Opinion 2007-19 (Jacobs, J.) illustrates the tax consequences of the settlement of debt at less than the full amount and specifically addresses the calculation of "insolvency" for the insolvency exception to the discharge of indebtedness income provision of the Internal Revenue Code. 26 U.S.C. 108. In this case, the taxpayers negotiated with their credit card companies to pay a lesser amount than what was owed instead of filing for bankruptcy relief.
Submitted by Anonymous (not verified) on Tue, 08/20/2013 - 22:09
If you are thinking about filing Southern California Chapter 13 Bankruptcy, then make sure you know how much you owe your creditors. Most potential debtors typically focus on how much they must repay based on their disposable income, but many fail to really take a close look at what they owe.
Submitted by Anonymous (not verified) on Tue, 08/20/2013 - 22:09
If you are thinking about filing Southern California Chapter 13 Bankruptcy, then make sure you know how much you owe your creditors. Most potential debtors typically focus on how much they must repay based on their disposable income, but many fail to really take a close look at what they owe.
Submitted by Anonymous (not verified) on Tue, 08/20/2013 - 22:09
If you are thinking about filing Southern California Chapter 13 Bankruptcy, then make sure you know how much you owe your creditors. Most potential debtors typically focus on how much they must repay based on their disposable income, but many fail to really take a close look at what they owe.
Submitted by Anonymous (not verified) on Tue, 08/20/2013 - 22:09
If you are thinking about filing Southern California Chapter 13 Bankruptcy, then make sure you know how much you owe your creditors. Most potential debtors typically focus on how much they must repay based on their disposable income, but many fail to really take a close look at what they owe.
Submitted by Anonymous (not verified) on Tue, 08/20/2013 - 21:52
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for August 20, 2013 How Changing Bankruptcy Laws For Student Loans Could Revitalize The Economy Creditors file objections to Detroit’s bankruptcy Miami Jai-Alai files for bankruptcy
Submitted by Anonymous (not verified) on Tue, 08/20/2013 - 21:48
There are a number of misconceptions about bankruptcy with many consumers under the impression that filing will hurt them. Fortunately, the process can help you and once you gain the necessary knowledge and get clarity about filing, it may improve your financial situation in more ways than one. In short, if you are unsure about [...]
Submitted by Anonymous (not verified) on Tue, 08/20/2013 - 13:00
The meeting of creditors in your bankruptcy case goes faster when you know the questions you may be asked.
These questions are largely standard, and many are required by the U.S. Department of Justice.
The purpose of these questions is to ensure that you’ve properly listed all of your assets, debts, and financial circumstances.