AZ - My wife had a Chase car repo around 6-8 years ago, they hadn't tried to collect, it was a voluntary repo. We got a tax bill from the IRS that (sorry if I'm not getting this lingo right) Chase had forgiven the debt and because of that the $6k was considered income, and that we owed $1k in taxes. I guess my question is, can they do that? If not, how can we fight it?
thedukeofaz1 karma
AZ - My wife had a Chase car repo around 6-8 years ago, they hadn't tried to collect, it was a voluntary repo. We got a tax bill from the IRS that (sorry if I'm not getting this lingo right) Chase had forgiven the debt and because of that the $6k was considered income, and that we owed $1k in taxes. I guess my question is, can they do that? If not, how can we fight it?
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