Personal Credit and Tax Implications
BCA’s personal credit section bridges credit repair and tax compliance. The right negotiation strategy reduces what you owe today; the right tax strategy keeps you from being blindsided by a 1099-C the year after. We cover both.
1099-C Cancellation of Debt
What that 1099-C means, why it is generally taxable, and the five IRC section 108 exclusions that can reduce or eliminate the tax. The most overlooked piece of any debt settlement.
Credit Card Debt Strategy
Avalanche versus snowball, minimum-payment trap math, charge-off as an accounting event, and the federal-floor debt-collection rules that matter once the account stops performing.
Negotiating with Creditors
Two tracks after late pay: original-creditor hardship conversations and third-party-collector validation conversations. Includes settlement-document rules, evidence discipline, and the attorney handoff workflow.
BCA can assist with your response. Contact us for info.