310.376.9865 A large number of homeowners have filed a Chapter 13 in order to Strip the 2nd Mortgage from their home. The lender/banks are now sending out a 1099-C Cancellation of Debt form. This IRS form tells the IRS that the lender/bank has cancelled this debt, the lender/bank reports this as lost income to the
310.376.9865 When are you liable for your Spouse’s Debt Incurred during the marriage? PERSONAL LIABILITY: If it a joint debt, a debt where both parties applied for the debt, then you are jointly liable. Otherwise, you only incur personal liability for your spouse’s debt in three occasions: The debt was assigned to you as