If you were a customer of a debt relief service this year â€” including mortgage debt relief, credit card debt relief, or debt settlement services â€” and had some of your debt forgiven as a result, you’ll probably receive form 1099-C from the Internal Revenue Service (IRS) and may owe federal income taxes on the forgiven debt [...]

The holidays are supposed to be a fun time for everyone, a time for family and friends to be together and spend time with one another. Unfortunately, the holidays are also a time of rampant commercialism where marketing and advertising efforts are ramped up to try and get you to spend even more money. The [...]

The California attorney general has called on Fannie Mae and Freddie Mac to offer mortgage debt relief to homeowners in the state by cutting the principal amounts they owe on their home loans, a suggestion the federally-backed companies have long resisted. Attorney general Kamala Harris faces pressure to get a better deal for California homeowners [...]

An Arizona man who was found guilty of taking advantage of consumers in dire financial straits by falsely promising that he could reduce and settle their debts for a fraction of what was owed was sentenced Tuesday to more than 13 years in prison. Before sentencing Gary Kent Allan, 62, Pima County Superior Court Judge [...]

Many military servicemembers deployed in the Middle East or elsewhere are experiencing trouble with credit card debt, mortgage debt, or other forms of consumer debt. Whether it’s just you or you have a family back home struggling to pay the bills in your absence, there are several debt help and debt management resources available. Military [...]

A West Virginia Circuit Court has granted a request by Attorney General Darrell McGraw to prevent several debt collection companies from operating in the state without a license. The court issued a temporary injunction against three New York–based Calvary Company debt-buying businesses â€” Cavalry SPV I, Cavalry SPV II, and Cavalry Investments â€” and Cavalry Portfolio Services, [...]

Debt management plans that offer to help pay your creditors by settling your debts with them can be helpful if you’re struggling with a lot of debt. Of course, the best way to manage your debt is to get debt free and stay that way. To help you achieve debt freedom, and maintain it, here [...]

Nevada Attorney General Catherine Cortez Masto has arrested three Las Vegas residents and charged them with mortgage fraud for allegedly operating a debt relief scam in which struggling homeowners were promised help with their delinquent mortgages that never materialized. Alex Soria, Sonia Rodis, and Hans Johns operated BioGreen Teck, a business that allegedly charged consumers [...]

President Obama unveiled a plan Monday to provide a measure of mortgage debt relief for some homeowners who are underwater on their home loans. Obama announced his plan from the front porch of a home in Las Vegas, which has one of the highest foreclosure rates in the country. Using executive powers that bypass Congress, [...]

A Rhode Island Superior Court has agreed to a request by the state attorney general to shut down a Providence-based mortgage debt relief firm for allegedly charging customers illegal advance fees. East Coast Fidelity LLC, also known as Fidelity Corp., allegedly charged the unlawful fees in exchange for promised home loan modification and foreclosure rescue [...]