If you are on the verge of Foreclosure there is help accessible. By calling PCS Debt Relief, a knowledgeable debt analyst will help you with a free debt consultation plan within minutes.
Insolvency and How it Relates to my Settled Debt
How do you know if you qualify for insolvency? According to the IRS, a taxpayer is insolvent when your total liabilities exceed your total assets. What does this mean for someone who has already settled their debts? The forgiven debt may be excluded as income under the “insolvency” exclusion. Normally, a taxpayer is not required to include forgiven debts in income to the extent that the taxpayer is […]