What Sallie Mae Just Told the SEC About a ‘Refinance’ That Is Actually a Default Trap
Sallie Mae told the SEC that some ‘refinance’ pitches are really pushing able-to-pay borrowers into default. Here’s the filing and what to do instead.
1099-C
They Said Once the Debt Was Charged Off, I Don’t Owe It Anymore. The Bank Wrote It Off — Not You.
A charge-off is an accounting move, not forgiveness. Here is what you still owe, what the statute of limitations really limits, and the 7-year rule.
They Said Student Loan Forgiveness Is Always Tax-Free — Not Anymore in 2026
Forgiveness isn’t always federally tax-free now – the 2021 exclusion expired after Dec. 31, 2025, but PSLF, teacher and disability discharges stay excluded.
Student Loan Forgiveness Is Taxable Again in 2026 — What Changed and How to Avoid the Bill
Student loan forgiveness is taxable again in 2026 — but a rule most borrowers have never heard of can erase the bill entirely.
A Virginia Nonprofit Just Erased $51 Million in Medical Debt — Why No Good Deed Goes Unpunished
A Virginia nonprofit forgave $51 million in medical debt. But the IRS may treat that forgiveness as taxable income. Here is how Form 982 protects you from a surprise tax bill.
You Got a Class Action Check Last Year. Did You Report It on Your Taxes? The IRS Wants to Know.
Most class action settlement payments are taxable income, but the administrator rarely sends a 1099 for small amounts. If you got a check in 2025 and didn’t report it, file a 1040-X before the IRS adds a 20% penalty.
The 1099-C Tax Bomb From Debt Settlement — And How Most People Can Legally Avoid It
Before you sign a debt settlement agreement, ask about the 1099-C. Most clients owe zero tax — but only if they know to file Form 982. Here’s what settlement companies don’t explain.
Zombie Debt: A Collector Just Called About a 10-Year-Old Bill. Here’s What to Do (and Not Do).
Collectors buy old debts for pennies and use shame to restart the clock. A 30-year debt expert explains your rights and when to just say no.
IRS 1099 on Old Debt: What It Means and What to Do
Quick Answer: A 1099-C form received 10-12 years after defaulting on a Discover Card debt represents tax reporting, not debt validation. To dispute the 1099-C with the IRS, one should request Form 4598 to be opened, which triggers IRS contact with the creditor for correction or additional information.Question:Dear Steve,Approximately 10 to 12 years ago, I …
1099-C Timeshare Debt on Credit Report: Myth vs Reality
Quick Answer: Receiving a 1099-C form doesn’t automatically eliminate the underlying debt from credit reports, as the tax document only reports forgiven income rather than debt forgiveness. Consumers can dispute incorrect balances with credit bureaus, but may need a consumer attorney’s help if the creditor maintains the debt is still valid despite foreclosure or settlement.Question:Dear …
