Legal action from a creditor

An Arkansas resident who falls significantly behind with a creditor might face an eventual lawsuit in spite of efforts to negotiate repayment plans or alternative settlements. In some cases, legal action might even be threatened on a debt that is no longer valid due...

Cancelled debt as taxable income

Many people in Arkansas feel a sense of relief after negotiating a settlement with a credit card company or collection service. That sense of relief may be diminished in January, when they receive a 1099-C tax form from the company. The 1099-C will show the amount of...