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wow..banks in trouble!!!

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    #1

    wow..banks in trouble!!!

    Dumped Credit solutions!!! Dealing with creditors myslf till i get back to Mi and retain my lawyer.
    Collections called today for BofA- owe $7,800. They are willing to take $1,500I told them no, I am filing 7 when i get home. I already settled one Bof A account and received a notice that i will be paying taxes on over 8K for the amount BofA ate.
    I DONT HAVE ANY MONEY!!! Between paying credit solutions 6K- paying 2K on the first account and now having to pay taxes on 8K!!!! WTF?
    Its a great offer but I just dont have $1500, or the amount I will owe on taxes.
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    #2
    Were you insolvent at the time you accepted/paid the settlement? If you were, you won't have to pay taxes on the forgiven debt.
    BKForum Blog: The Journey

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      #3
      Originally posted by jobGONE View Post
      Dumped Credit solutions!!! Dealing with creditors myslf till i get back to Mi and retain my lawyer.
      Collections called today for BofA- owe $7,800. They are willing to take $1,500I told them no, I am filing 7 when i get home. I already settled one Bof A account and received a notice that i will be paying taxes on over 8K for the amount BofA ate.
      I DONT HAVE ANY MONEY!!! Between paying credit solutions 6K- paying 2K on the first account and now having to pay taxes on 8K!!!! WTF?
      Its a great offer but I just dont have $1500, or the amount I will owe on taxes.
      Did Credit Solutions ave you anything? If not, ot if it was minimal, tell them you want a partial or full refund, and will file a complaint with the BBB if they aren't willing.

      Debt settlement companies do not like black marks on their record. I got 75% of the $4K I paid my debt settlement company. My atty suggested this the day I retained him, and it worked!
      02/05/09 Filed BK7
      03/11/09 341 Hearing
      05/20/09 Discharged!

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        #4
        They gave me 2K back, thats how I'm getting back home. I could have gotten more, may try when I get my att. They just had me click on a letter, never signed anything. I will bring the 8K to my att. and see if he can help. He did say he could help with what I owe the IRS. I owe them 18K and pay 400 a month, its to hard. Some of that amount is back from 2006.

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