Turn in motorhome back to bank
Has anyone got some information on what happens and how bad it is to turn your motorhome back over to the bank? I have a 2006 Allegro Bus that I have been trying to sell for a couple of months with n...
Forum Discussion
Trackrig wrote:
And, let's say you owned $100K on it, the bank sold it for $70K and in some distant world, they forgave you the $30K difference, then you own the IRS taxes on the $30 that the bank gave you.
There's no such thing as parking it on their doorstep and never having to deal with it again.
Bill
Saw that happen to someone at work. IRS came after him for $80k that bank forgave. He did lose everything as a result. They went after everything!
