Tax Relief

Tax Consequences of Debt Settlement in Northridge, CA

Tax Consequences of Debt Settlement in Northridge, CA

Also known as ‘debt adjustment’ or ‘debt relief’, debt settlement relates to settling your outstanding debt; for example, your credit card payable amount or a business loan, for less amount than originally owed to the creditor. This is usually done by agreeing to pay a lump sum amount that is often significantly less than the …

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