Announcement

Collapse
No announcement yet.

Negot Lower Settlement on Credit Card Debt

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

  • Negot Lower Settlement on Credit Card Debt

    I negotiated a lower settlement on a credit card debt to get out of it. I was then told that when you do this you would receive some paperwork that had to be filed with your taxes. I just needed to get out of the debt, and so did not care at the time whether it would have any adverse affect when I filed taxes. Is this going to affect the amount of money that I will get back when I file my tax return because I negotiated a lower settlement amount?? Thx if anyone can help.

  • #2
    Re: Negot Lower Settlement on Credit Card Debt

    The debt forgiven will show as income and you have to pay taxes on it.

    Comment


    • #3
      Re: Negot Lower Settlement on Credit Card Debt

      Thanks for this information.

      Comment

      Previously entered content was automatically saved. Restore or Discard.
      Auto-Saved
      Smile :) Stick Out Tongue :p Wink ;) Mad :mad: Big Grin :D Frown :( Embarrassment :o Confused :confused: Roll Eyes (Sarcastic) :rolleyes: Cool :cool: EEK! :eek:
      x

      the color of milk is... (write the answer twice with an "@" between the words)

      widgetinstance 213 (Related Topics) skipped due to lack of content & hide_module_if_empty option.
      Working...
      X