Philadelphia, PA -- (SBWIRE) -- 03/07/2016 -- When a creditor cancels a debt, there is a good chance that they will file a 1099-C form with the IRS. If that happens, the IRS will consider the cancelled debt additional income to the person whose debt it was, and they will tax it accordingly. This is becoming an increasingly common practice among creditors nationwide, which is why Quality Credit Repair, a company that specializes in credit reports and credit tips in Montgomery County, PA, wanted to share more detailed information about the 1099-C form, cancelled debt taxation and bankruptcy. A write-up on the subject is available via their website. The company hopes that this will help their clientele and readers avoid the trouble with the IRS that ignoring the filing of the 1099-C form can cause.
Founded in 1999, Quality Credit Repair has more than fifteen years of experience in counseling their clientele about debt and credit. They have handled financial problems from simple and small, to big and complicated, including bankruptcies, foreclosures and excessive debt issues. The company's consultants are all highly trained and experienced experts in their field, and they are genuinely dedicated to helping their customers enforce their rights through the Fair Credit Reporting Act.
Anyone looking for credit reports in Philadelphia or other assistance with credit and debt issues can find more information about Quality Credit Repair by either visiting the company's website, or by calling them at 888-399-3898.
About Quality Credit Repair
Quality Credit Repair works to help clients better their credit score and ensure they receive the most accurate credit reports. Their dedicated and highly trained consultants have over 15 years of experience resolving credit related issues. They will review a client's credit report and highlight areas that are harming the scores. The consultant will also layout changes the individual can make to better their credit. The company helps build credit by recommending the opening of secured accounts with certain, trusted lenders. Their services are available to clients anywhere in the country.
For more information, please visit http://www.qualitycreditrepair.com.