The lender filed a 1099-A instead of 1099-C. Do I still qualify to file Form 982 for the forgiveness of debt?

Yes, take these documents to your tax preparer, however, the forgiveness of debt stemming from the foreclosure sale will not be taxable per the...

Filed BK CH.7 in 02/11, mortgages included. Discharged in 06/11. House short-sale in 02/12, rec'd 1099-C from lenders.

You need to report the forgiven mortgage debt on your 2013 Tax Return, however, under the Mortgage Debt Relief Act you will not be taxed on that...

How is forgiven mortgage debt in 2103 treated for tax purposes?

This question should most likely be directed to an accountant or tax attorney as well, however, you should report the forgiven mortgage debt on...

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In California chapter 7 using 704 homestead exemption, how much can a Husband & Wife take on their jointly owned home? 100k?

Yes, as long as this is your primary residence, you and your wife have a $100k exemption amount under 704 homestead exemption.

Filing Chapter 7 bankruptcy - what happens to Canadian property?

Yes, if you have a house, bank account, investment property or other asset outside the country, you must include these assets on your bankruptcy...

California getting divorce husband financially responsible for RV my name on loan he defaults am i responsible?

Yes, if your name is on the loan and you signed the loan documents then you are financially responsible. If the RV is repossessed the lender still...

Is there any future hopes for discharging private college loans through bankruptcy? Is there anything coming down the pipes?

There may be some hope for a future law being passed that allows private student loans to be discharged, but we all know how difficult it is to get...

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Client has 20 Is home equity considered available for liquidation in Chapter 7? k k

It seems like the client would qualify for a Chapter 7 to get rid of the credit card debt. You will need to meet with a bankruptcy to determined if...

The quick answer is yes, if you are not current on past due mortgage payments then they can foreclose and take the property. Your personal...

There are a couple questions here. (1) In bankruptcy, federal court, you count calendar days. So if the hearing is 2/11, the due date for your...