Re: Advice for Paying Off Debt

Posted by Taziblue (64.157.147.192) on March 12, 2004 at 11:01:32:

In Reply to: Re: Advice for Paying Off Debt posted by J Kelly on March 12, 2004 at 10:43:25:

I would advise not contacting a debt collection agency- they do not have a good track record.

I would suggest hiring an attorney (start searching at www.naca.net) to do the negotiating for you. This is their area of expertise. Meet with several until you find one you feel comfortable with. Since you are paying off someone elses debt, you should have more leverage. Also, an attorney knows exactly how to construct the settlement agreement to make sure that the debt is closed.

As stated above, if she gets a 1099C she will probably be able to avoid taxes on it as she is most likely insolvent. Make sure that she files the appropriate papers with her taxes for that year.

What state? I know a Florida consumer attorney who is very good about helping people resolve their debt issues.

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