Foreclosure is a difficult process already; don't let tax liabilities get in the way.
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We’ve all heard the commercials and public service announcements, promoting debt settlement as an alternative to bankruptcy. But is debt settlement a viable solution or just another money-making scheme?
Every bankruptcy case is different. Depending on how you file, you may still be responsible for repaying certain debts.
If you received money from a settlement, your work isn't over yet. Depending on the circumstances of your case, you may owe taxes on what you were awarded.
The tax process encompasses everything from property tax to duties on foreign imports.