Are there any tax implications of debt settlement?

Related FAQs

How do I report a debt settlement to the IRS?
Do I have to pay taxes on debt settled through negotiations?
When can I start making payments on my debt settlement?
How do I make sure I receive a fair settlement from my creditors?
What should I do if a creditor refuses to negotiate a debt settlement?
How do I know if a debt settlement company is legitimate?
Is it possible to settle a debt for less than the amount owed?
What happens to the debt that’s been settled?
Do I need to hire a lawyer to negotiate a debt settlement?
Is there any way to expedite the debt settlement process?

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