The Effects of Debt Settlement

Submit Your Tip

The Effects of Debt Settlement – This is a place for the community to provide tips and advice on The Effects of Debt Settlement. This topic was created by henny 95 and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - Debt Settlement Frequently Asked Questions

Published: 9 years, 2 month(s) ago | Submitted by Rodney Delmore | permalink

Frequently asked questions about Debtmerica and our debt settlement program to reduce your credit card debt balances.
Tags: wfg debt settlement, debt settlement, debt relief, credit card debt, debt consolidation, debt negotiation, debt reduction, reduce credit card debt

For further reading: http://debtmerica.com/debt-settlement-faq ^[1]

Tip 2 - Know the Dangers of Debt Settlement

Published: 9 years, 2 month(s) ago | Submitted by Cahit R | permalink

Even though debt settlement may promise to reduce your debt, they can't promise to keep your credit in tact at the same time. Find out how debt settlement works and why it may not be the best solution.

For further reading: http://credit.about.com/od/debtmanagementsolutions/qt/debtsettlement.htm ^[2]

Tip 3 - Tax Consequences When a Creditor Writes Off or Settles a Debt | Nolo.com

Published: 9 years, 2 month(s) ago | Submitted by William Guillem | permalink

The IRS may count a debt written off or settled by your creditor astaxable income.

For further reading: http://www.nolo.com/legal-encyclopedia/tax-consequences-settled-forgiven-debt-29792.html ^[3]

Tip 4 - Should I use a debt settlement service to help me deal with my debt and debt collectors?

Published: 9 years, 2 month(s) ago | Submitted by Monica Domiano | permalink

Consider other options before thinking about using a debt settlement service. Warning: Dealing with debt settlement companies can be risky. Some debt settlement companies promise more than they can deliver. Some of your creditors may also refu

For further reading: http://www.consumerfinance.gov/askcfpb/1459/should-i-use-debt-settlement-service-help-me-deal-my-debt-and-debt-collectors.html ^[4]