Another IF

Posted by Sky (66.47.178.47) on July 07, 2004 at 14:36:29:

Just read a post about the IRS. IF we don't get enough from the equity loan that we are hoping to get and then call Direct Merchants and ask them to settle for a lesser amount and be free of the debt and give them what we have and we get that form 1099c... is that a good thing?
I just want to be free of that debt soooooo bad.
Will DM do that? or are they stiff?
Do we have to pay taxes on that amount that we are forgiven?
Thanks.

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