Bankruptcy and 1099 taxable income
Bankruptcy and 1099 taxable income When you file bankruptcy or settle a debt a creditor will almost always file a 1099 which claims you made money by bankrupting or settling a debt. If you settle the debt you owe the tax due to an increase in taxable income. But in bankruptcy there is no taxable […]
Kentucky Higher Education Student Loan Corporation KHESLC & Bankruptcy
There are some cases where a person cannot obtain the disability discharge but may still be able to obtain an undue hardship discharge in bankruptcy. Kentucky Higher Education Student Loan Corporation “KHESLC” is not the Department of Education. However, a loan may have originated at Kentucky Higher Education Student Loan Corporation and purchased after default […]
Senior Citizens Social Security Student Loan Garnishments
In 2005, older adults owed $2.8 Billion in federal student debt. However, 2013 saw an increase to over $18 Billion. This is according to the Government Accountability Office (GAO) in 706,000 households compared to 22 million households with the remaining student loan debt. People over 65 who are on social security default their student loan […]
