Do You Owe More Than Your Plane, Boat or RV is Worth?
We are an Asset Protection Company with the sole purpose of removing you from these over encumbered objects and protecting you and your lender from dire consequences.
What is debt relief and how can it affect you?
The INTERNAL REVENUE SERVICE requires every lender that cancels, forgives, or discharges any obligation over $600.00 file a 1099-C with the previous borrower as well as with the IRS. The amount of debt cancelled or discharged is generally considered ordinary income.
When your property is disposed of for less than the amount owed, you are receiving DEBT RELIEF. The lender's loss is considered taxable income and if the lender should lose $50,000 you will receive a 1099 for $50,000. If your tax bracket is 32%, you will owe the Government $16,000.00 above your existing tax obligation for the year.
When you sell these assets to WILSHIRE, it is sold for the amount owing. If your Lender writes down debt, The DEBT RELIEF is assumed by WILSHIRE.
Don't Dispose of these Assets Yourself....
You Need Wilshire Liquidators!
Wilshire Holding Group, Inc., our Parent Company is fully accredited by the
877-71-TOBUY
((877) 718-6289)
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WILSHIRE HOLDING GROUP, INC. All Rights Reserved.