If a debtor owes a debt to a creditor and the debt is cancelled or forgiven, the amount of the forgiven debt may be taxable income. The debtor should consult with a competent Arizona real estate lawyer or Arizona bankruptcy lawyer to determine if the amount of debt that was forgiven is taxable.
Blog Categories
Search
Index
341 meeting
anti-deficiency statute
attorney fees
automatic stay
beneficiary deed
chapter 7
Chapter 13
credit
credit scores
eviction
exemptions
fees
foreclosure
garnishment
HOAs
home modification
landlord/tenant
last will & testament
leases
lien stripping
life insurance
life sustaining procedures
lifting automatic stay
living will
Means Test
medical power of attorney
meeting of creditors
mortgage
Mortgage Forgiveness Debt Relief Act
mortgage modification
power of attorney
probate
reaffirmation agreement
reaffirming debt
redemption
short sale
tax
taxes
tax refund
trustee
trustee sale
trusts
vehicles
wages
will
