Monday, September 24th 2018


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

30th Oct 2009 In Finance 1 Answers | 594 Views
Subjects: credit card, credit card debt, debt,

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 currently the most expensive stock on the US Stock Market?
Share a simple answer to help inform others:
Specific to any country?
First name / Alias

• Your answer will be posted here:
Which is currently the most expensive stock on the US Stock Market?
Unanswered Questions in Finance
How to finance a merger?
What is a Low doc mortgage?
What is a college loan?
What is a secured loan?
When should you refinance your home?

Answered Questions in Finance
What is loan subordination?
What is homepath renovation mortgage financing?
How to finance a home?
What is an Equity Loan
What is a Low-doc home loan?
Ask A Question
Get opinions on what you want to know:
Specific to any country?