Wanting to settle
Date: Tue, 10/13/2009 - 10:53
Hello all. We have around 45k in cc debt and want to start settling with the CA's. I know that any foregiven debt over $600 we will get a 1099C. So I was wondering if that was total or per card? Also, if a CA is willing to delete from credit report, do you know if I can get the original creditor to change its status to settled or something similar?
Hi, The tax would apply to the total amount that you'd save th
Hi,
The tax would apply to the total amount that you'd save through settlement. I think you'd find the following link useful.
"http://www.irs.gov/pub/irs-pdf/p4681.pdf"
