Sub:
#1Questions.....
Replied on
02-27-2011, 08:43 PM
My fiance' hasn't worked at all this past year and I support her and her child from another father.. she received a 1099c from a credit card settlement and I need to know if she has to file on her own or if I can still claim her and her child as qualifying relatives
As far as I know, she will have to pay taxes for the forgiven debt as she has received the 1099c form from her creditor. Your fiance should contact a tax adviser and he or she will be able to assist her in a better way.
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.