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The 1099-C: Cancellation of Debt Income

Around this time of year, many of you are preparing your taxes. You may have received 1099-C forms from your lenders. Form 1099-C reports income due to the cancellation of debt. Normally, any debt that is cancelled or forgiven is reported as income for income tax purposes. However, debt discharged through bankruptcy is one of […]

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U.S. Trustee Questions at the Meeting of Creditors

The following is a list of questions that many Trustees will ask you at the Chapter 7 Meeting of Creditors (also known as the 341). Not all of these questions are asked at every meeting but you should expect to at least answer questions 1 – 5, 8 and 10 at the Meeting of Creditors. […]

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