The ZipDebt Blog
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It helps sometimes to put things in perspective with a little math. On a daily basis here at ZipDebt, clients report successful settlements on their debt accounts. I finally had a chance to take a closer look at the numbers for 2009 so far. For the months of January and February 2009 combined, clients have reported settlements that resulted in more than $1.1 million in savings. (Click to continue reading this post…)

Here we go again. Two different consumers have informed me that a “debt consultant” (i.e., sales rep) at a settlement company made a specific claim about the 1099-C taxable income issue. The pitch is that if the client handles the negotiation themselves, they will be issued 1099-Cs by the original creditors and the forgiven balances will be fully taxable. Naturally, they (Click to continue reading this post…)