Receiving a 1099 after Bankruptcy
Effect of receiving a 1099-C for a Debt Discharged in Bankruptcy When a creditor forgives a debt, either through a write off outside a bankruptcy or because a discharge of the debt through the bankruptcy, the creditor is required by the IRS to file a 1099-C. If you receive a 1099-C and have not filed […]
What are the Key Differences Between a “Small Business” Debtor and a “Regular” Chapter 11 Debtor?
What are the Key Differences Between a “Small Business” Debtor and a “Regular” Chapter 11 Debtor? In some smaller cases, the U.S. trustee may be unable to find creditors willing to serve on a creditors’ committee, or the committee may not be actively involved in the case. The Bankruptcy Code addresses this issue by treating […]
What Type of Bankruptcy Should I file?
What Type of Bankruptcy Should I file? There are two types of bankruptcy, liquidation and reorganization, which are broken down into different Chapters as outlined in the Bankruptcy Code. While choosing the best chapter for you depends entirely on your personal circumstances, following is an analysis of the available options: Chapter 7 – Liquidation. A […]