What should you do if you received notice you owe for a cancellation of debt from your ex-husband's bankruptcy and it has nothing to do with you and you never filed bankruptcy?
You really need to find out exactly what you are being noticed about. It may not be what you think, especially as the bankruptcy probably eliminated his debt. If you were also liable on that debt, you could end up with Cancellation of Debt income to report on your income tax...and receive a 1099C But you may also be simply subject to a clerical error, (someone thinking your ex is your current, or anything). But until you know the specifics, everything is speculation. If after speaking to them, you feel you were never responsible for the debt, send a certified letter saying so (any reasons you have doesn't hurt), that they cease any collection efforts and requesting they provide copies of specific documentation of why they believe you are liable. If forgeries or the like are found, proceed as needed.
Yes, of course! It has nothing to do with your studies. In addition, the fact that you filed for bankruptcy indicates you took the appropriate legal course of action. There is nothing wrong with that. Now go get that degree! Yes, of course! It has nothing to do with your studies. In addition, the fact that you filed for bankruptcy indicates you took the appropriate legal course of action. There is nothing wrong with that…
Cancellation of debt occurred from a visa account in 1995 but I received a 1099c from IRS in 2006. Would statute of limitation erase owing IRS any tax?
Cancellation of Debt Income is taxable to you in the year that the creditor officially cancels the debt. It is possible, though a little strange, that they didn't actually write this debt off until 2006. Statutes of limitation have nothing to do with it. You should explore several exceptions that may apply to the taxability of this. Cancellation of Debt Income is not taxable if it is forgiven in a bankruptcy. It is also not…
Can a company ask you to pay them 4 years after they were given notice that you claimed bankruptcy and they were listed?
If you are in the process of a bankruptcy, it is not likely that you would be able to secure a loan. If you are paying cash, and the court learns of the sizable asset, your bankruptcy may be vacated, or you may be required to surrender the vehicle. If the bankruptcy is resolved, there is nothing other than the dealer's and lender's personal judgments that would stop them from selling the car to you.