Opinion
Monterey Herald on MSNOpinion

Barry Dolowich, Tax Tips: Cancellation of debt income

If you borrow money (note: credit card debt is borrowed money) from a commercial lender and the lender later cancels or forgives the debt, you may have to include the cancelled amount as income ...
Having debt forgiven can feel like a fresh start, but there are follow-up steps you should take to protect yourself.