Pursuing certain types of credit card debt relief could have a big impact on your taxes. Here's what you need to know.

In the last two scenarios, you may be able to have some of your debts canceled altogether through a process called "cancellation ... debt was forgiven or wiped away. "Your creditor should provide ...

However, there are some exceptions that may allow a taxpayer to escape paying tax on all or part of Cancellation of Debt income reported on Forms 1099-C. The most common situations when ...

Text Callout : Key Takeaways - How to Avoid Paying Taxes on Debt Settlement An individual overwhelmed by debt who is considering debt settlement has to take possible drawbacks into account, with a ...