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Hanging on to debt is like a disease that you would rather not treat right now and in the end pay (or not) for it by filing for bankruptcy. We think we need to carry a balance on our credit cards and make minimum payments even though we could pay it off. The hidden cost [...]

Sacramento – A new state law allows taxpayers to immediately exclude from their income the amount of mortgage debt on their home loan that has been forgiven by their lender. The law largely brings California statutes into conformity with current federal law. Previously, California conformed to federal debt relief only for 2007 and 2008, according [...]

Finding a honest firm for credit card debt relief could be a tiring procedure, but clients need to know that the industry has quite a few various businesses. The best companies can get rid of as much as 60% of the credit debt. Nevertheless, some of the other organizations might do you a lot more harm than good. This article will describe the best 5 most important facts of you ought to know concerning the credit card debt relief industry’s businesses.

Cancellation of debt is sometimes income and most of the time not. It all depends on the taxpayer’s situation. To better explain the issue, here is a question followed by an answer and reference. QUESTION In return for $10,000, Tom canceled John’s debt of $20,000. The cancellation of debt wasn’t a gift but part of [...]