Hello All-
Long time lurker, now needing some info. Thank you all for the information over the last 6 mos.
45K in CC debt
Some background-
Me Self employed LLC in construction slowing down 6 mos ago, could not pay self.
Wife working, but had to foreclose on two homes. One primary residence, other a rental that has not been rented out in over a year, adding to our problem. Now renting.
We are well under the median for a chap 7, planning on filing in March. Then yesterday we received 1099-C,s for both homes, Primary 400k, rental 250K.
My question is this-do we file taxes or wait until after we start the BK process? Are we liable for this if we are tecnically insolvent even if we havnt filed yet?
Many thanks for the help, any insight would be helpful!
Long time lurker, now needing some info. Thank you all for the information over the last 6 mos.
45K in CC debt
Some background-
Me Self employed LLC in construction slowing down 6 mos ago, could not pay self.
Wife working, but had to foreclose on two homes. One primary residence, other a rental that has not been rented out in over a year, adding to our problem. Now renting.
We are well under the median for a chap 7, planning on filing in March. Then yesterday we received 1099-C,s for both homes, Primary 400k, rental 250K.
My question is this-do we file taxes or wait until after we start the BK process? Are we liable for this if we are tecnically insolvent even if we havnt filed yet?
Many thanks for the help, any insight would be helpful!
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