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Question for charge-off
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Posted by Al on August 13, 2001 at 16:07:56:
One debt management company settled one of my CC bills by 50%. The credit card company sent me a letter, and said they would report the settlement to IRS. SO unpaid part of my debt would be my income. So I have to pay tax on my debt. I wonder if there is anyway I can avoid tax ?
Thank you for help.
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