Bankruptcy – Will You Have To Pay Tax On Your Forgiven Debts
Did you know that forgiven debts are considered income by the IRS? Because they are classified as income, they are also taxable. This means that a debt of $10,000 that has been ‘forgiven’ is considered...
View ArticleBankruptcy Or Renegotiated Debt – Which Is Better?
Which would you prefer – to negotiate a new deal on your debt, or file for bankruptcy? Many would opt for a renegotiated loan contract, and in most cases, it would make sense. There are times when a...
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