Working with customer disputes isn’t an unfamiliar situation to most buy-here, pay-here operators. Dealers have become accustomed to smoothing out situations about repairs, payments and a host of ...

One of the most overlooked exclusions is the debt cancelled due to insolvency. Here is how it works: Say you negotiated to settle a credit card debt for $1000, where you originally owed $4,000. In ...

— -- Like former lovers who send you friend requests on Facebook, old debts can come back to haunt you. But while you can ignore old flames, you can't dismiss past debts, even if they were ...

Here's what you should know about the form 1099-C, Cancellation of Debt: A form 1099-C, Cancellation of Debt, is issued by a creditor when a debt is discharged for less than the full amount you owe ...

At this time of year, creditors sometimes send out what is called a Form 1099-C. They email it to the Internal Revenue Service (IRS) and copy the person who owes them debt. The form tells the IRS that ...

If your mortgage debt is partly or entirely forgiven during tax years 2007 – 2012, you may be able to claim special tax relief and exclude the debt forgiveness income, said the IRS. Normally, debt ...

Job losses and decreases in home values have caused a great number of borrowers to default on their debts. A person who fails to pay a mortgage, car loan, credit card or other debt often faces tax ...

Dear Tax Talk, I got a Form 1099-C in the mail this week from a bank for a debt cancellation. The loan originated in 1989, and it was charged off in 1990. The representative I talked to said they gave ...