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    mr.africa's Avatar
    mr.africa Posts: 1, Reputation: 1
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    #1

    Mar 14, 2003, 06:17 PM
    Repo
    I had my car repossed by the bank for non -=payment... the bank ( credit union) has sent me something which indicates how mucha the car was for tax purposes/.. /.. how does repo affect your income taxes?
    youareceo's Avatar
    youareceo Posts: 17, Reputation: 1
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    #2

    Jun 20, 2004, 12:14 PM
    repo
    That is mainly for their protection, but does have some liability.

    First, they are trying to show you how much they are going to report as a tax write-off to Uncle Sam. And they want you to take THEIR deduction as INCOME!

    Can you say, INSOLVENCY? For more details, I need to know specifically what the notice says.

    Jon
    [email protected]

    The preceding is not legal advice, is not from a licensed debt counselor, and is not provided to persons from states which providing such information requires a license.
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