Re: **paging**

Posted by Why Chat (209.240.205.61) on January 26, 2004 at 00:06:23:

In Reply to: Re: **paging** posted by Sweetyb on January 25, 2004 at 23:11:38:

If you are settling with the ORIGINAL CREDITORS, and they "forgive" a portion of your debt,you will get a 1099C showing that amount as income to you for the that year. Unless you ca claim that you owe more than you have (insolvency) you will pay taxes on it.

If you don't get that, the balance will be sold to a collection agency who can and will try to collect it from you, and will put it on your reports.

I can not give you any advice about settling with a collection agency except DONT! They all lie.

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