[onewhippedpuppy]

Originally Posted by masraum

Right, I was curious about those things, so I called one. You stop paying, your debt goes to collections, after a while when your credit is ruined, you offer a low-ball payoff. If they accept, then come the next tax time, you get to claim all of the debt that they wrote off as income. Ouch, so you think you got free debt relief and then find out you're going to get dinged come tax time.

Sounds like a great option!

Not to mention the fact that you're trying to get off of the hook for money you legitimately owe. Bad karma in my book.