Re: Can a Creditor take money from my salary/income? FOllow-Up 2

Posted by Taziblue (68.130.206.236) on January 07, 2004 at 15:08:40:

In Reply to: Can a Creditor take money from my salary/income? FOllow-Up 2 posted by QuickDraw McGraw on January 07, 2004 at 13:15:15:

Insolvency : more debts than assets.

Make a list of assets.
Make a list of debts.

Subtract - if you come up with a minus score, you are insolvent.

You only need this is you get a 1099C and want to avoid taxes on it.