Collection Agencys non - disclosure scam...
Have you settled with a collection agency for a past due debt?
Whether it was actual amount or amount plus fees and interest?
The newest scam, FYI is You will get a 1099 in the mail for the amount, they released you from Example you owed $200 with fees and interest it is $769 you settle for $269, you will get a 1099 for $500! In fact they never tell you this when you settle. You will receive a letter stating that they reported this to the IRS according to their regulations. As well as please address your questions to a tax professional (because they will not tell you that you now have to pay taxes on what they believe you saved?)
Thank you US congress Barney Frank and Chris Dodd This is a complete masquerade
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