buy the debt
Date: Sat, 10/04/2008 - 06:13
No, I figure if you buy the debt, it isnt paid, you now own it j
No, I figure if you buy the debt, it isnt paid, you now own it just like a debt collection agency, and since you haven't resolved it you woud not have to pay taxes on the amount you neogotiated down.
It's a good idea in theory. Goldenbast posted a very similar th
It's a good idea in theory. Goldenbast posted a very similar thread about a month ago...
The only problem is the CAs/JDBs/OCs don't sell their accounts off in onesees and twosees. They bundle them, and might sell 50,000 accounts at a time for $2 million dollars. You would have to buy that whole portfolio in order to actually buy your account from them.
And even if you could buy only yours, I'm sure the IRS would sti
And even if you could buy only yours, I'm sure the IRS would still figure out a way to tax you on it! :(
ok, how about a payment trust? you pay an upfront agreed to am
ok, how about a payment trust? you pay an upfront agreed to amount and a trust amount forever?