Original Message:
Re: Current info on walking away from a timeshare (by Phil L.):
stanleyf5 wrote:Matthew, Don't forget that when your creditors write off part of your debt, the IRS considers that income. The IRS will be looking for taxes on the part of the bill which is written off by each creditor. Stan.
Was this a new change to bankruptcy or always been there? Reason I ask is I know three people over last ten years that filed bankruptcy and this never happen to them that I ever heard about.
PHILL12