Will 1099-Cs be taken care of in a bankruptcy? 2 Answers as of August 18, 2010

I have a few judgments against me and 1099-Cs from credit card companies. Will the 1099-Cs be taken care of in the bankruptcy or do they have to be shown as income? If I show them as income on my taxes will they be cleaned off my record?

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
Debt Settlement Income is not recognized if you file bankruptcy. This means that bankruptcy can solve the debt settlement (1099-C) problem for you.
Answer Applies to: California
Replied: 8/18/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
The debt can be discharged. However, if the taxing authorities decide to collect taxes on debt forgiveness, that you will still owe.
Answer Applies to: California
Replied: 8/18/2010
Click to View More Answers: