Many people are unable to believe the claims they hear from debt settlement companies. They don’t believe that a bank is going to accept 20-60% of what they owe. This is a bit of an illogical practice, but there are several reasons why settlement works.
First, your accounts fall delinquent while you are on [...]
When trying to avoid bankruptcy and still handle your debt, people often compare Consumer Credit Counseling (also known as CCCS) and Debt Settlement. Consumer Credit Counseling looks appealing to many people because they usually have a local office where you can sit down face to face with someone. They also usually tout themselves [...]
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A big question most people ask before joining a debt settlement program is “What are the tax consequences of this program?”.
The answer is that financial institutions are required to report any canceled debt over $600 to the Internal Revenue Service. That means that if you save over $600 on an account during [...]