Form 1099-C: Debt Cancellation and Taxes Guide
Introduction: When Debt Forgiveness Becomes a Tax Bombshell If a debt is paid, a portion of it is forgiven, or a lender releases it, it’s a kind of relief, but…
Public Service Student Loans Forgiveness Guide
Introduction: Understanding of Student Loan Resolution and Forgiveness Process Student loans have the potential to become a financial weight that feels like it lasts for a lifetime, particularly for individuals…
Impact of Debt Settlement on Future Loans & Mortgages: Explained
Introduction Once you actually settle a debt, it’s a tremendous weight off your shoulders. You’ve haggled with your creditors, paid off bills in a large sum, and decreased your debt…
How to Handle Debt After Settlement (Explained)
Introduction Paying off debt is like a long, difficult marathon run. You have communicated to your creditors, paid off your debt, and are now free of it. But even after…
How Debt Settlement Affects Cosigners And Joint Account Holders
Introduction If two or several parties are parties to a loan or credit account, say, cosigners, co-borrowers, or co-account holders, their finances are intertwined for life. Such an arrangement becomes…
What If Your Settlement Agreement Is Broken or Reversed?
Introduction Debt settlement should be a relief, a clear conclusion where both your creditor and you agree on a mutually accepted reduced amount to settle your debt. What if, however,…
What Happens if You Miss Payments During Debt Negotiation?
Introduction As you are negotiating with your creditors or working through a debt settlement company, it should be mentioned here that going through this process is stressful and anxiety-provoking. There…
Tax Consequences of Forgiven Debt (IRS Rules)
Overview If you come to an arrangement to pay off part of a debt to an amount that is not the entire amount of the debt that is owing, then…
Legal Rights of Debtors | Complete Consumer Guide
Overview When you get behind on payments on your debts, either bills or loans, not terribly surprisingly, not only will you be contacted by the debt to which you owe…
Debt Settlement Works During Collections | Complete Guide
An Overview of Debt Settlement Debt settlement while in collection is a process by which a consumer negotiates with a debt collector or with a debtor’s original creditor to settle…