Just thought I'd let you know I sent NACA a nice letter about you and about my attorney in San Antonio Texas. Maybe they'll share it with you. If not, I'll share it with you. God bless you, Happy New Year and thank you for "using your power for good."
@@johngwatts Right now I cannot see anything newer than January 3rd on my email because it's full. I can't even see if I've gotten a response Once I clear it out I will forward the email to you. God bless, HAVE A GREAT NEW YEAR.!
What if: Borrow $5000. Pay back $3000. Judge dismissed lawsuit on the other $2,000. It's not forgiven or settled. It's dismissed No tax liability? (Edit: you actually answered it in the video)
Yes I take the position that would NOT be forgiven as the judge says in effect you do not owe the debt. Ultimately the IRS decides if the issue is pushed but it helps to have an understanding of the arguments. Taxes are normally pretty logical and if you get a grasp on the concept you can ask the right questions of the CPA etc. Thanks for your comment! John
Hey John another great video. You use the example in your video of the case brought by a debt collector against your client and the debt Collector agrees to dismiss the case with prejudice it gives the ability for the client to argue that any debt associated with a 1099 is disputed and therefore not taxable. I’m wondering if the same would be true in this scenario where you file suit against a debt collector for a cc your E8 violation for example you you negotiate a settlement that includes zero dollars going to the debt collector in this case since the client is the one that brings suit and the debt collector agrees to take no money would the client also be able to argue that this was disputed debt and therefore not taxable?
Did you pay the settlement (assuming you agreed to pay)? Why are they trying to collect something that has been settled? Same company or different company? If you will, give me the details. No names needed -- just "Collector A" settled for $X dollars etc. Thanks! john
@@johngwatts I took the bank who owns my loan car, signature loan and other loan to arbitration. They agreed to settle I didn’t have to pay signature loan and other loan I have it writing. But when I go pay my car they always ask for the money for the other.
60% FDCPA and FCRA litigation I learned from your videos, counselor!
Glad to hear! Hope you are doing great!!
John
Just thought I'd let you know I sent NACA a nice letter about you and about my attorney in San Antonio Texas. Maybe they'll share it with you. If not, I'll share it with you. God bless you, Happy New Year and thank you for "using your power for good."
That's very nice thank you for doing that! You have a great year!
John
@@johngwatts Right now I cannot see anything newer than January 3rd on my email because it's full. I can't even see if I've gotten a response Once I clear it out I will forward the email to you.
God bless, HAVE A GREAT NEW YEAR.!
What if: Borrow $5000. Pay back $3000. Judge dismissed lawsuit on the other $2,000. It's not forgiven or settled. It's dismissed No tax liability? (Edit: you actually answered it in the video)
Yes I take the position that would NOT be forgiven as the judge says in effect you do not owe the debt. Ultimately the IRS decides if the issue is pushed but it helps to have an understanding of the arguments. Taxes are normally pretty logical and if you get a grasp on the concept you can ask the right questions of the CPA etc.
Thanks for your comment!
John
Hey John another great video. You use the example in your video of the case brought by a debt collector against your client and the debt Collector agrees to dismiss the case with prejudice it gives the ability for the client to argue that any debt associated with a 1099 is disputed and therefore not taxable. I’m wondering if the same would be true in this scenario where you file suit against a debt collector for a cc your E8 violation for example you you negotiate a settlement that includes zero dollars going to the debt collector in this case since the client is the one that brings suit and the debt collector agrees to take no money would the client also be able to argue that this was disputed debt and therefore not taxable?
I have a question I settled in arbitration and they keep trying to collect the debt after we settled what can I do about this.
Did you pay the settlement (assuming you agreed to pay)?
Why are they trying to collect something that has been settled?
Same company or different company?
If you will, give me the details. No names needed -- just "Collector A" settled for $X dollars etc.
Thanks!
john
@@johngwatts I took the bank who owns my loan car, signature loan and other loan to arbitration. They agreed to settle I didn’t have to pay signature loan and other loan I have it writing. But when I go pay my car they always ask for the money for the other.
And yes, they are trying to collect on something we agreed in writing to settle that they would write it off