2

Foreclosure Defense and Loan Modification Blog

Settled Your Debt? Surprise! Make Sure You Know This Tax Implication

Posted by Jake Sterling

Friday, May 1, 2015

You've gone through the ordeal and sometimes incredibly long process of settling your debt. Whew, glad that's over. Now on to rebuilding your finances, right? Not quite, when you go through a debt settlement there are tax consequences.

 

 

Surprise, Surprise! You Now Have to Report Phantom Income
Many consumers are surprised that the IRS and their state government considers debt forgiven as income.

 

 

 

Read More

Topics: debt settlement

DIY Debt Settlement, Dangers You Should Be Aware Of

Posted by Jake Sterling

Tuesday, April 21, 2015

If you have high credit card debt, you might be able to settle the debt for less than the full amount. If you plan to do-it-yourself there are dangers you should be aware of.

Credit card settlement involves negotiating with the creditor company via an offer to settle the amount you owe with a lesser amount. In the event that the creditor accepts, you must be prepared to pay the entire negotiated settlement amount up front, in one lump sum.

Read More

Topics: debt collections harassment, debt settlement, credit cards

About this Blog

Amerihope Alliance Legal Services is a leading loan modification and foreclosure defense law firm with attorneys licensed in 5 states. We have helped over 7,000 homeowners fight back and keep their homes.

Click to Read Our Super Loan Mod Success Stories

Our goal is to provide valuable information to help homeowners who are trying to obtain a loan modification or to stop foreclosure. You may schedule a free consultation at any time.

Quick Answers

Do You Need To Hire A Foreclosure Attorney? Take Our 2-Minute Quiz

2015 Guide to Loan Modification

New Call-to-action 

Downloads

Learn How to Check  Your Florida Foreclosure Case Status

Guide: How to Write a  Hardship Letter  for Loan Modification

Posts by Topic

see all

Subscribe to Email Updates

Foreclosure Process Handbook

IL-foreclosure-attorney-mapDownload Your Illinois  Foreclosure Process Handbook

 

 

florida-small Download Your Florida  Foreclosure Process Handbook

 

 

new-jersey-map-smallDownload Handbook: New Jersey  Foreclosure Process

 

 

New-York-SmallDownload New York  Foreclosure Process Handbook

 

 

pennsylvania-sm-attorneyDownload Pennsylvania  Foreclosure Process Handbook