Re: ASG-Accounts Solutions Group

Posted by LadynRed (199.91.33.254) on December 17, 2003 at 16:01:17:

In Reply to: Re: ASG-Accounts Solutions Group posted by Drew on December 17, 2003 at 13:21:57:

On the 1099-C - IF they issue one, its true that any 'forgiven' amount over $600 is reported as income on your 2003 taxes. HOWEVER, if you can show that you were insolvent at the time, the you do NOT have to report it.

ASG is a bunch of wusses. I sent them a DV letter over a year ago and they turned tail and ran - never heard from them again !

A notation on your credit report as 'settled' is a NEGATIVE remark - it will hurt your credit as surely as the collection and charge-off. It they don't delete entirely or change it to 'paid' or 'paid as agreed', you're not getting any kind of deal. $1100 on a $1500 debt ?? That's not a 'deal' either, they're still making a HUGE profit off you !

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