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About TC14

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  1. I have only a cell. I've never counted, but I must have 200 or 300 numbers blocked. With technology today, blocking is futile. A company can spoof any area code or number combination they want for a nominal fee. I learned to live with it.
  2. The only thing I have to add is that it took nearly 4 or 5 years of me ignoring Chase while they offered less and less settlement amounts. It's not easy ignoring all those calls. In my case it was a war of attrition. When I received the 10% it felt to me like a final offer. So I responded by doing some research and ended up here. It wasn't until I found this forum that I realized 10% offers are a calculation on their part and their process. I'm glad I did. My initial plan was to allow the $11k to default and go to collections and deal with them, as I had done so once before with Citi/Portfolio
  3. Huh, that's interesting. It seems intuitive that would be the case. Not to mention as @BackFromTheDebt said just getting it off my plate and moving on to the next hill to climb is a mental victory.
  4. Indeed. One less thing to worry about 👍 As to the credit score hit... that's just what my local tax accountant said when I ran all this by her. But frankly I don't have much faith in her knowledge on this matter. This forum seems far more credible.
  5. Just to close this out, I took the deal and settled the accounts. Chase tells me they will report the accounts as "settled paid in full." Whatever that means. I'm not sure if I'll take a credit hit as my tax gal said I would, or if settling this live debt will improve my score. I'll be interested to see that part. I may report back here in a month or so when I pull my credit again and check. The 1099-c thing seems to be pretty straightforward, but you never really know until the time comes with these things. But that's a year out. If I remember to I may come back and update that part as w
  6. Understood. In my case, my 401k was liquidated a long long time ago when this all started years ago. My only "asset" per se is a 13 year old vehicle I refuse to upgrade and I doubt anyone's coming for that. The idea is to stay quiet and low key and dig out of the hole little by little. Eventually, debt disappears whether by settlement or statute of limitations, credit begins to improve, and at some point get back to my life and career without the stigma and baggage of debt and poor credit hindering my moves and plan. Ironically, I actually had to do this once before around 2001, and was s
  7. Thanks for your feedback. Fortunately (or unfortunately depending on how you look at it) my debt outweighs my assets. Nothing about being in this situation is fun, but at least there's some people out there willing to help out.
  8. Thanks. Then the answer to my original question is, yes. Take the 10% deal. Appreciate the input, all. It helped.
  9. @BackFromTheDebt Gotcha. Thanks. My debt at this point is far greater than the amount about to be forgiven on this one settlement. So as I understand it now, as long as the forgiven amount does not take me into the black, I do not owe taxes on it. Which is what I'd hoped for. Let me ask you one more thing.. as I continue to do this and chip down my debts, does all cumulative forgiven debt continue to be tallied by the IRS year after year? Meaning that once I finally do become solvent and get out of this, will they hit me with the entire amount of forgiven debt on all the accounts I plan t
  10. Any others been through this and have insight?
  11. That was my first thought. Seems pretty clear cut. Thank you. Just want to get some opinions from any others that have been through it as well.
  12. Hello! I know this is an older thread, so I hope bumping it with what is (for me) a relevant question is allowed. I'll be brief. @BackFromTheDebt @ImpressTHANK YOU for your post re: Chase and the 10%. I am currently in an identical situation being offered 10c on the dollar for approx $12k over 2 cards with Chase. Here's my question (I've spoken to Chase about it, my tax person, and attempted to contact the IRS). Taking the 10% deal I'm told will definitely trigger a 1099 to be issued next year to me for the remaining forgiven amount. Even though I'm (unfortunately) currently unemploy