Posted on: 13th Mar, 2013 12:37 am
So, we filed Chapter 7 that was discharged in May 2011. It included my 1st, 2nd and HELOC. We still live in the home and pay ONLY the first mortgage. My bankruptcy attorney said as long as I pay they will not kick me out and foreclose. If the 2nd/3rd liens want to foreclose they would have to buy out the 1st mortgage, which are 6-7 times the amount. I was expecting to receive a 1099 C but have not received anything. Its tax time and I'm not sure what to do. Should I have gotten one? If so, which one? I'm still paying on the first so I don't think the bank has or will cancel that. I have not paid on the 2nd/3rd. So I would have thought I would have received 1099 C for those. But nothing has happened yet. Anyone have any experience with this?
Hi Borne,
If your debts have been forgiven by the lenders, then you should be receiving the 1099c forms. Though I don't have a personal experience regarding your situation, I will suggest you to get in touch with your bankruptcy attorney and the lender and try to sort out the matter.
Take care
If your debts have been forgiven by the lenders, then you should be receiving the 1099c forms. Though I don't have a personal experience regarding your situation, I will suggest you to get in touch with your bankruptcy attorney and the lender and try to sort out the matter.
Take care
Hi Borne!
Welcome to the forums!
You can even get in touch with a tax adviser and take his opinion in this regard. He will let you know which type of form you will be receiving.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
You can even get in touch with a tax adviser and take his opinion in this regard. He will let you know which type of form you will be receiving.
Feel free to ask if you've further queries.
Sussane