Legal Advise - Medical Billing

[CubanMustGo]

And re written off medical debt being taxable:

http://www.debtsettlementlawyers.com...-process-tax-i

What are the Tax Implications of Unsecured Debt Settlement?

Any amounts forgiven by a creditor on an unsecured debt are treated as income for tax purposes. The creditor will send the consumer a 1099-C which reflects the amount forgiven on the debt and the consumer must list this amount as income on his tax return.

[Nick Manning]

WTF? That sounds wrong as . Did this affect your credit poorly?

No, my credit was bad before from all the delinquency on that card (as well as a plethora of student loans that I wasn't paying). Paying it off (the settlement) actually improved my credit.

As far as them claiming that the remainder was my taxable income, yeah...I thought it was sketchy. I didn't declare it and thought nothing of it. Didn't notice anything till 5 years later (now) when I filed my taxes online and they took it out of my refund. ers.

[Nick Manning]

And re written off medical debt being taxable:

http://www.debtsettlementlawyers.com...-process-tax-i

What are the Tax Implications of Unsecured Debt Settlement?

Any amounts forgiven by a creditor on an unsecured debt are treated as income for tax purposes. The creditor will send the consumer a 1099-C which reflects the amount forgiven on the debt and the consumer must list this amount as income on his tax return.

Thanks for the clarification.

Suppose I owe a company $10,000 (a sign-on bonus)...Can I settle with them and have the same tax/settlement agreement?

[MannyIsGod]

Wow I never knew you had to claim that as income. I've never heard of anyone doing that. Pretty ing crazy.

[ploto]

Lets say you visit your primary care doctor and she says i need you to go down the hall and pee in a cup and come back. Would you say, well is that room down the hall part of my coverage? I wouldn't, you would go pee in the cup, or give them blood or whatever the case may be.

Actually I would. The lab down the hall may not be in network.

Lots of physicians may be in network but the facilities may not be. Just because your physician is in network and he wants to send you to Methodist for Outpatient Surgery does not mean that it is in your network.

Know, however, that if you were in network, he would be getting paid a whole uva lot less than what you were billed. You might be able to find what that rate is and see if he will agree to it.

[ploto]

Wow I never knew you had to claim that as income. I've never heard of anyone doing that. Pretty ing crazy.

I think there are many doctor's offices that do it and never send out the 1099. Credit card companies are probably more likely to do so.

[CubanMustGo]

Thanks for the clarification.

Suppose I owe a company $10,000 (a sign-on bonus)...Can I settle with them and have the same tax/settlement agreement?

This is a consult a tax lawyer area.

[Nick Manning]

This is a consult a tax lawyer area.

How much you charge?

I've evaded them for a couple years, but it's only a matter of time before I get that knock on the door with some certified mail...

[MannyIsGod]

I think there are many doctor's offices that do it and never send out the 1099. Credit card companies are probably more likely to do so.

Yeah I've done it i the past and never gotten a 1099. I advised many clients to do it in the past and never once thought of a 1099. Oops?

[Soul_Patch]

I'm at jury duty today but i called the place this morning and after explaining my situation, was told that i had no balance...i asked are you sure and was told yes, to disregard the bill...still pessimistic, but ok.

[bus driver]

I'm at jury duty today but i called the place this morning and after explaining my situation, was told that i had no balance...i asked are you sure and was told yes, to disregard the bill...still pessimistic, but ok.

NICE! Now just change your address and phone number just in case they do an audit