How does someone with under the table pay and a recent bankruptcy by a car in WA state without much money down
My boyfriend has two jobs, one part time @ 16.00/hr and one that is also part time, but he is paid under the table. He has a recent bankruptcy and keeps hearing ads on tv stating he can get a car even though he has bad credit, bankruptcy and unverifiable income. He desperately needs a car, but doesn’t have money to put down. We are in Washington State. Please help!!!
a company may offer a mortgage deed in lieu of foreclosure, then transformed it into a foreclosure?
My husband and I lose our home. The mortgage company sent us some papers of its services in case of failure to act in lieu of foreclosure. After that signed the papers and returned it to them, they decided to make an attack (three months). Can they do that?
Did they sign the paperwork? If yes, then you've probably had a valid contract to proceed with the deed in lieu of foreclosure. But if they had not already signed, is considered as an offer from your bank. They had the right to reject your offer for a deed in lieu. Moreover, the lender may offer owners a fact of place. You can discuss the matter with you and send the documents for her, but borrowers should be present the first offer. Then, the bank may accept or reject supply. But the law allows lenders to offer homeowners acts, rather than foreclosure. It seems that the bank has to bid for a DIL, and then rejected his offer. It is quite irritating, but also within their rights, unfortunately. What you can do is to examine as many alternatives as possible, as the bank missed three months of his time. Good luck. ForeclosureFish
Short Sale – Part 1: Real Estate Foreclosure Prevention – Mortgage Bailout Process – Negotiate Free
I'm new to trading .. Luckily a couple of times and it took me about 10k years and last about 16k as my military salary. I have a part of my agent who said that capital gains and losses of 177K …. I put that amount on a tax calculator and says he'll have to pay 38k on my taxes .. Damn im afraid, How will I actually pay taxes? Please help me with my wife and she is afraid that we might have to declare bankrupt. Thanks in advance for your advice … ohh if it helps us a dependent and she is a student and is about 4K for the year while total about 30k in total revenue for us this year.
If you had $ 177K in capital gains in the short term this is probably correct, or at least in the stadium. But you said that information from your broker is "profits / losses. What is it? losses offset the gains experienced by the network so that is what you want to worry about. If you really had $ 177K in net profits in the short term, then you should have no problem paying the tax because they have money or you can settlement of dues to pay. If you missed the gain prepare for a rough ride. Bankruptcy does not erase any tax liability so that there is an option. If you're really in this situation need advice from a tax professional – an accountant or tax adviser, not a single storefront tax preparation plants as Block or Hewitt. How did your military pay is only $ 16K? This E-2 or E-3 pay. GIS not many to pay to have the burden of age level enough to make 4KA even a year.
I own a home that is currently rented out but I’m close to defaulting on the loan. I also own property in another state with another party. If I was to go into foreclosure for the home in california. What will bankrupcty courts make me do with the co-owned property i have? Considering my partner doesnt want to sell or will a sell be forced?
When you file bankruptcy, everything you own becomes property of the bankruptcy estate. You can exempt most of it, which is how you’re able to keep it. In a Chapter 7, any non-exempt property belongs to the Chapter 7 Trustee. The Trustee’s job is to sell non-exempt property and make a pro-rata distribution to your unsecured creditors. If there is equity in the house you own jointly, the Trustee will contact the co-owner and offer to sell the estate’s interest to the co-owner. If the co-owner refuses, the Trustee will file a lawsuit in bankruptcy court to sell the property and pay half of the proceeds to the co-owner – see section 363 of the bankruptcy code.
If there is no equity in the house, the Trustee won’t care about it and it won’t matter.
If you file Chapter 13, you also won’t have to worry about it, because Chapter 13 Trustees do not liquidate property, but manage payment of claims. You will have to include the property’s mortgage payment as part of your Chapter 13 plan payment.
In short, there are a number of factors, and you should consult with an attorney.
Foreclosure not the end of your debt; Bankruptcy is.
Do I get to deduct mortgage interest on a foreclosure?
If one forecloses on a home, I understand I would be either issued a 1099-A or the debt could forgiven, but not both. On the 1099-A is it just Fed taxes you pay if you don’t qualify for the Mortgage Debt Relief Act or does the State get a piece also. I do not know of anybody having to pay on these 1099-A situations.
Unless you actually paid the interest, you don’t get a deduction.
As for the 1099-A,. it represents the “sale or other disposition” of the property. Report the “sale” on schedule D. You only have taxes if you have a gain.
The rules for the 1099-C are different. See IRS pub 4681.
What is the Mortgage Forgiveness Debt Relief Act of 2007?
