Hello, I'm Scott... My research can help you find honest & reputable debt relief companies. I've met with the companies I suggest to ensure they provide REAL solutions.I have 18k in debt…
(a total of 3 credit cards, one a business credit card and the other 2 personal credit cards). I’m self-employed. I live in Texas and was hit hard by Hurricane Ike. As a result (cont…)
Click to Read More >Hi, I have approx 30k in credit card debt between my wife and I and am looking to see (cont)…
…if we can compile all of our debt into 1 debt settlement program rather than
Click to Read More >I accepted an offer from a credit card company to settle my debt with them for about 50% of what I owed. I thought that would be the end of it, but then I received a form for “debt forgiveness” which was also sent to the IRS, and because of which I had to claim an additional 10K as income which I did not have, never would have. I am having to pay taxes on money I never had! So how am I in better shape using a credit negotiation company if I end up with a large amount of debt “forgiven” which I then cannot even afford to pay taxes on?
Your are correct in that when you use a
Click to Read More >is the amount that is forgiven taxable?
Yes, in debt settlement the amount you do not have to pay as a result of the debt negotiation process is taxable. It is something
Click to Read More >why do you pay taxes on a debt settlement?
Hello, it is because the IRS has decided that the savings you make from
Click to Read More >
