from Qwest Credit Enhancement Blog http://bit.ly/2HIcBXD
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Did you know that the Internal Revenue Service considers forgiven debt a source of income, and have to pay taxes on that “income.” And if you’ve ever settled a debt for less or had debt forgiven entirely, you probably got a surprise in the mail come tax season: the dreaded Form 1099-C. Form 1099-C is the form you file to report debt-related income.
Equifax, in duplicating two delinquent bills on a credit report, is making a Byram woman look like a deadbeat debtor, a lawsuit filed Thursday against the credit reporting giant says.
Chances are that you have never heard the terms Zombie Debt or Zombie Debt Collectors. Neither had former United States Marine Lt. Charles Lay until the first week of October 2018, when he received this phone call:
“Superior Court calling, and we want to verify if you are going to be making your court hearing tomorrow at 8 a.m.”