Keep the video (the .mp4 file) and all written correspondence for at least 7 years as proof the debt is legally extinguished.
For a $7,000 debt, creditors often aim for a 40%–60% settlement ($2,800–$4,200). 2. Negotiation Strategy Debt Settlement - Zlata Shine Oculus 7k.mp4
Use a cashier’s check or a dedicated settlement account to prevent creditors from having direct access to your primary bank account. Keep the video (the
If the forgiven amount exceeds $600, the IRS considers it taxable income. You may receive a 1099-C "Cancellation of Debt" form from the IRS . 5. Finalizing the Payment Debt Settlement - Zlata Shine Oculus 7k.mp4