Potential Tax Consequences Killed the New York Debt Collection Settlement

Defendants continued to deny they owed the monies due under the loan claiming the loan was for someone else’s benefit.  Although the terms were clear: sixty (60) installments, thirteen (13) payments made, clearly a defaulted loan. The borrower brought the other party that benefited into the case.  All parties asserted claims against one another.  If the claims were a drawing, it would resemble that of a complicated football play. Continue reading “Potential Tax Consequences Killed the New York Debt Collection Settlement”

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