First warning a lawsuit is coming ?

[FLBK7]

Three or four of the offers to settle for less also said they would instruct all major credit bureaus to reflect "Account paid in full for less than the full balance".

Creditors will say ANYthing over the phone to bleed a penny out of you. Don't believe a word unless you get it in writing!!!

[no_it_all]

Creditors will say ANYthing over the phone to bleed a penny out of you. Don't believe a word unless you get it in writing!!!

This, boys and girls, is excellent advice...

[ssdsco]

Unless of course you went bankrupt and are insolvent..then the point would be you "can't" be taxed for settling the debt

Yes but we're talking about settling for less with no intention of declaring BK. I can't see a situation where you'd settle for less if you were declaring BK.

Time for me to search the IRS website.

[ssdsco]

Creditors will say ANYthing over the phone to bleed a penny out of you. Don't believe a word unless you get it in writing!!!

The unsolicited offers were in writing from the OC's. Good advice though.