Are there any tax consequences to debt settlement?

Related FAQs

What if the creditor refuses to settle the debt?
Should I use a debt settlement company or negotiate directly with my creditors?
How can I ensure I don’t fall behind on payments during the settlement process?
Are there any drawbacks to settling a debt?
Is it possible to settle a debt for less than the amount owed?
What penalties or interest can creditors charge when settling debt?
Can I negotiate a debt settlement over the phone?
Is debt settlement a good way to reduce debt?
Is there a minimum debt amount to qualify for debt settlement?
How do I stop debt collection calls during the settlement process?

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