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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Jocelyn Nager, NY Debt Collection Attorney, Named Super Lawyer

Jocelyn Nager, Super LawyerMs. Jocelyn Nager, the managing partner of Frank, Frank, Goldstein & Nager P.C., a New York law firm devoted to the collection of bad debt, has been named “Super Lawyer” for the fourth consecutive year. 

Super Lawyers is a rating service that features outstanding lawyers from more than 70 practice areas. The list recognizes no more than 5 percent of attorneys in each state. 

Lawyers featured have attained a high-degree of peer recognition and professional achievement. The selection process includes independent research, peer nominations and peer evaluations.

Jocelyn was awarded an “AV” rating by her peers. The “AV” rating goes to lawyers who hold the highest ethical standards and legal ability.

Super Lawyers is a service of Martindale Hubbell, an information services firm for the legal profession. The IT giant publishes the Martindale-Hubbell Law Directory, providing background information on lawyers and law firms across the U.S.

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Debt Collection and Disparaging Remarks

angry emoji on a phone meant to represent disparaging remarks.Disparaging remarks added to the sting of not getting paid is upsetting. What makes it worse is when a client fabricates a reason for non-payment, which is downright untruthful.

You may know the drill.

There is a quick flurry of emails back and forth; insults hurled from one to the other. Added to the experience might include an exchange on the street, angry calls, disparaging remarks related to debt collection, raised voices on cell phones.

Disparaging remarks, all too common. Continue reading “Debt Collection and Disparaging Remarks”

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