Are there any tax consequences to debt settlement?

Related FAQs

How long does it take to complete a debt settlement?
What should I do if a creditor refuses to delete negative credit items as part of a debt settlement agreement?
Should I be wary of any companies offering “instant” debt settlement?
Do I need to hire a lawyer to negotiate a debt settlement?
Are there any drawbacks to settling a debt?
Can I negotiate debt settlement with multiple creditors at once?
When is it best to pursue debt settlement?
What if the creditor refuses to settle the debt?
Do I have to pay taxes on debt settled through negotiations?
How will I know if the debt settlement negotiations are successful?

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