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Fannie Mae Wants to Settle Our Mortgage Debt for Less Than We Owe. – Dorrie

“Dear Steve, Reduced payoff and the mortgage is in good standing We have a house mortgage with SLM (Fannie Mae). We have been getting letters from them stating that we are eligible for a reduced payoff if we refinance with another Mortgage Company. Now mind you we are current and always been current (direct payment …

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Payday Lender is Threatening Me With a 1099-C IRS Form. – Julia

“Dear Paula, i recived a 1099-c form with a cover letter sayng they will report deffault paydayloan as ordinary incom and that they officialy had forwarded the 1099-c form to the irs and it tells mea settlement agrement i called them and the guy told me if i didnt want the irs to get the …

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My Car Was Stolen and I Got a 1099 for the Amount Written Off. – Darrin

“Dear Steve, In 2005 I had a vehicle stolen. My insurance paid the “value of the vehicle” to the lender, however there was $1,000 not paid. After much back and forth with the insurance agency and the lender the lender decided to write off the debt. Now January 2013 I received a 1099 for the …

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Can a Debt Collector Send a 1099-C on a Debt That Charged Off 5 Years Ago? – Regina

“Dear Steve, I defaulted on a credit card account in 2005. I was in a really bad situation. I didn’t even have enough money to eat, let alone pay this bill. I got calls about it for about a year. Then nothing. Occasionally I would get a letter or phone call, but that was it. …

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Capital One Sued Me and Lost But Issued Me a 1099 and Now I Have to Pay the IRS. – Paul

“Dear Jim, Capital one sued me on a debt and it was dismissed without prejudice , they didn’t show up. about 7 months later they sued me again. this time i hired a lawyer and it was dismissed with prejudice. they can’t sue me again..yay. now almost a year later. i get a letter from …

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Even in Death, Student Loans, the Debt That Keeps on Giving

The unfolding tragedy of student loan debt in America took an interesting turn recently with an article published in the Baltimore Sun and then repeated in the ABA Journal. Thanks to a reader that sent in the tip on the article we get a glimpse into reason 198 why you should never cosign for student …

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