[masraum]

If you've seen those commercials about "we'll help you get out of debt. You'll only pay pennies on the dollar of what you really owe." commercials. If you aren't aware. First, you have to stop paying for about a year or more so the credit companies think they won't get anything. Then they negotiate a partial payment. It's better for them to get some than none, right. But it doesn't end there. Whatever they write off gets added to your "taxable income" for the year. Ouch.

I'd hate to have my mortgage turned into taxable income.