New York Comptroller May Have Funds to Satisfy Your Debt Collection Case

A tornado of money that represents debt collection and the comptroller.Looking for assets to satisfy your New York debt collection claim? According to this week’s New York Post, New York’s comptroller may have money that can satisfy your debt collection claim.

The article highlights monies being held for the wealthy including the Trump Association, President Donald Trump, Jeff Bezos and more.

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Can You Change Your Mind About Settling a Debt Collection Case?

Handshake to represent settling debt collection.You agreed to settle and now, before signing the paperwork, have second thoughts because you are not happy about the terms of the settlement. Can you change your mind about settling your New York debt collection case?

During a legal case, all parties may agree the case should be settled. If the parties settle on an amount one must pay the other, all claims and counterclaims get discontinued and general releases provided pending the clearance of the payment(s).

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Should You Take Advantage of Debt Forgiveness?

Illustration of a person handcuffed to a dollar bill to illustrate debt forgiveness.Schools, institutions, and other lenders are in the news for writing off their balances owed, thereby forgiving the debt. What are the consequences of debt forgiveness, and should you take advantage of debt forgiveness offered by a creditor?

While it is true that when a debt is forgiven in whole or in part, you are no longer required to repay that portion of the debt. However, did you know that the lender or creditor may issue a statement that the debt was forgiven? In fact, for many, the lender must issue a statement and report the forgiveness to the IRS by issuing a 1099.

That is, of course, if the debt exceeds $600.

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