Sunday, June 24th 2018

Question

How to clear credit card debt?

Interesting Question?   (2)   (5)



Answers (1)

13th Dec 2009 by Mark P. Cussen, CFP, CMFC

As you might expect, the simplest way to clear out credit card debt is simply to pay it off. If this is not possible, you can sometimes negotiate a settlement amount to pay them instead. If you do this, then the credit card company will issue you a Form 1099-C at the end of the year showing the amount of debt that they forgave you. You must then report this amount as income on your taxes.

Like This Answer?   (0)   (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com



30th Oct 2009 In Finance 1 Answers | 576 Views

Answer This Question / Give Your Opinion
How to clear credit card debt?


Answer: *

What country is this answer relevent to? *
Your Name: *

Enter Verification Number: *


Give Your Opinion
Which is the biggest bank in New Zealand?
Share a simple answer to help inform others:
Specific to any country?
First name / Alias

• Your answer will be posted here:
Which is the biggest bank in New Zealand?
Unanswered Questions in Finance
What is a Home Loan Pre Approval?
What is a retail loan?
What is midland funding llc?
What is a cre loan?
What is collateral financing?

Answered Questions in Finance
What is refinancing your home?
How to clear credit card debt?
Out of debt now what?
Where can i buy prepaid mastercard?
How to finance an investment?
Ask A Question
Get opinions on what you want to know:
Specific to any country?