I can not believe the following statement from the debt settlement company Capital Protection Group.
While other debt settlement companies try to get 50% off your debt, if their lucky, the Capital Protection Group will have you pay back less than 10%.
– Source
In my opinion that is a totally unfounded claim and one that, if regulators saw it, could certainly lead to Capital Protection Group and its service providers to get sued over. A 10% claim has no connection with reality in debt settlement.
Oh why do debt settlement companies say such silly things if it isn’t intended to confuse or deceive consumers?
STEVE;JUST A THOUGHT HAS ANYBODY EVER ASKED IF MONEY LOST TO ALLLC IS TAX DEDUCTABLE EVEN THOUGH MONEY SAVED FROM SETTLEMENT OR CHARGE OFF OF 600.00 OR MORE AS INCOME IS TAXABLE ? ANYBODY KNOW???
Kenneth,
My gut reaction is no, but you’d really have to check with a tax professional. When it comes to the IRS it’s often a mystery.
Steve
Bac offered to settle for around that amount. Better to get something than nothing.It can be done you just have to know how.