You will receive a 1099-C Cancellation of Debt form if a lender forgives more than $600 of taxable debt. You must include the amount of canceled debt on your federal tax return as a part of your ...

Could your debt be reduced or forgiven? Take our financial relief quiz. Having an overwhelming amount of debt can make it seem impossible to ever improve your financial situation. After all, too much ...

Question: After losing my business and a temporary job, I fell behind making payments on my credit card debt. I am planning to file for bankruptcy protection to get out from under by overwhelming pile ...

・Starting January 1, 2026, forgiven federal or private student-loan balances may once again be considered taxable income. ・If forgiveness occurs in 2026 or later, you’ll likely receive Form 1099-C ...

Could your debt be reduced or forgiven? Take our financial relief quiz. Struggling to pay off all your debts may lead you to consider debt settlement. While negotiating a debt settlement can help you ...

If you have debt that is canceled by a lender, you may receive IRS Form 1099-C. Although you are no longer liable to repay the debt, you can’t simply forget about it. The IRS may consider the forgiven ...