Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Is it better to file for bankruptcy or just wait for foreclosures to be removed from credit report?

April 26, 2017Bankruptcy credit report file Foreclosures removed wait

0

Posted

Is it better to file for bankruptcy or just wait for foreclosures to be removed from credit report?

1 Answer

0

Posted

Amounts discharged as a result of bankruptcy are not reported as income on your tax returns. The 1099 will still be sent out, but the very important box “Check for Bankruptcy” will be marked.