If the savings is over $600, the creditor could send you what is called a 1099-C and tax the saved amount as income, but you may use IRS Form 982 to be exempted from this liability. Please consult your tax adviser for further information on this provision.
As many as you want. We can customize any program convenient for you.
Yes, as a matter of fact many of our clients receive credit card offers weeks after settling the debt.
You will pay us nothing until we’re able to arrange a settlement on your individual accounts. Our fee will be based on the amount of money we save you and will be included in your monthly payment or lump sum number we give you.
No, once the settlement is secured and payment is made you will owe nothing.
It really depends on where your credit is at right now. If your credit is good, although there may be a negative effect on your credit, it will not be permanent. Once you have completed your program all of your balances will reflect a 0 balance which will be viewed more positively on your credit. If your credit is not very good, then your credit has already seen some negativity — and hopefully, resolving your debts will only reflect positively upon completing your program. For more information on how your credit score is calculated, please read our blog post: More to your Creditworthiness than just a Score.