Debt Free Destiny

Learn about Form 982, 1099-C, The Truth about Reporting Forgiven or Canceled Debt as Income, and How You May Be Able to Avoid Paying Anything By Declaring Yourself Insolvent.

It seems unfathomable that people would prey on individuals when they are at their lowest.  However it is not only a common practice but one that is growing right now as families are being stretched beyond their limits financially.

How does using debt settlement affect your credit rating? The answer may surprise you.

Debt settlement is an aggressive approach to reducing or eliminating your debt as fast as possible. Usually the debtor is facing serious hardship or even bankruptcy. Debt settlement is normally negotiated by a third party agency on behalf of the debtor, or it can be done by the debtor himself. The end result is that the creditor agrees to settle the debt for a lower amount than is actually owed.

This debt settlement offer letter from Citibank saved me 40% off my credit card

This debt settlement offer letter from Capital One saved me almost 60% off my credit card balance.