Government refinancing of home loans

Dreamsglore wrote:

TEOTWAWKI wrote:

Dreamsglore wrote:One thing about this forum is that your enemies come out and gloat and try to pounce on you when they think you have been one upped ...whether it's true or not. Then they're silent when your right. It's funny but always true.

I gave you a plus..I love under dogs...I spent a lot of my life there...good luck Dreams...

ThanksTeo but I'm well aware Chrissy,PB and Gunz have no interest in who's right. They're just there for the kill. That's what they live for. It's part of their character. LOL! I like being the underdog. It makes me feel special and not a part of mindless sheep.

I'm not your enemy either. I just want to see if you will for once admit you made a mistake. Good luck and may the force be with you young jedi.

I just want to see if you will for once admit you made a mistake.

She has never.....and I repeat never.....admitted a mistake on these forums. She will not admit a mistake today......but her comments early on were contradictions and smoke and mirrors.....anything but a simple .....ooops.

2seaoat wrote: I just want to see if you will for once admit you made a mistake.

She has never.....and I repeat never.....admitted a mistake on these forums. She will not admit a mistake today......but her comments early on were contradictions and smoke and mirrors.....anything but a simple .....ooops.

The biggest mistake was from her parents by not being able to afford an abortion or a condom.

There's no way in hell that they planned in having "it".

2seaoat wrote: I just want to see if you will for once admit you made a mistake.

She has never.....and I repeat never.....admitted a mistake on these forums. She will not admit a mistake today......but her comments early on were contradictions and smoke and mirrors.....anything but a simple .....ooops.

I see you're going to run it into the ground,Seaoat but you are wrong again. I certainly have admitted mistakes. Who do you think you are anyway? Because you said something, it is true? Your nothing but a hypocrite who accuses people and does the same thing. Even better you bring up stuff that happened way back and say they're wrong now but never said anything at the time. I guess you were getting your ammunition up to attack knowing what was said then couldn't be proven. Nice schtick. Oh and BTW, they consider bankruptcies on credit cards taxable income.

Gunz wrote:

Dreamsglore wrote:

TEOTWAWKI wrote:

Dreamsglore wrote:One thing about this forum is that your enemies come out and gloat and try to pounce on you when they think you have been one upped ...whether it's true or not. Then they're silent when your right. It's funny but always true.

I gave you a plus..I love under dogs...I spent a lot of my life there...good luck Dreams...

ThanksTeo but I'm well aware Chrissy,PB and Gunz have no interest in who's right. They're just there for the kill. That's what they live for. It's part of their character. LOL! I like being the underdog. It makes me feel special and not a part of mindless sheep.

I'm not your enemy either. I just want to see if you will for once admit you made a mistake. Good luck and may the force be with you young jedi.

Yeah right. Who needs enemies w/ friends like you.

Oh and BTW, they consider bankruptcies on credit cards taxable income.

here we go again.......who is They?

Is it _________________________ fill in the blank.....you know the magic source which allows Dreams to create new rules for folks which are void of reality, where the English language is no longer our method of conveyance of ideas and concepts, and where her own vocabulary is guided by little green men who dance in her head.......

Who do you think you are anyway?

Somebody who can read and write English......I would apologize, but it would not be sincere.

2seaoat wrote:Who do you think you are anyway?

Somebody who can read and write English......I would apologize, but it would not be sincere.

Now it's an English mistake. No need to apologize,Seaoat for being an ass. That's on you.Doesn't affect me. Did you give your friends the flu while they were visiting? How nice to have company in a flu house.

Was my understanding that if credit card debt was canceled or forgiven the creditor would issue a 1099-C which is considered taxable income and in which case you would have to pay tax on that amount at the end of the year. The only way to avoid paying that tax was if the debt was discharged through bankruptcy proceedings. Once the debt is discharged you do not have to pay tax on that debt even if you receive a 1099-C from a creditor, you just had to show your bankruptcy discharge paperwork.

Did you give your friends the flu while they were visiting? How nice to have company in a flu house.

I posted a sign on the door......Seaoat had a sore throat this morning.......they read your thread on Bankruptcy.......and laughed with me.....you have entertained many this evening.....I am even getting private messages which I normally do not read.....usually something like this.....when is a bankruptcy not a bankruptcy.....LOL.......I do not know.....I am not one of those little green men running around in Dreams head.....

Feeling much better.....even though the Bears did not make the playoffs.....I have rarely had a more enjoyable day.......I might make a recommendation.....if you have not intentionally been pulling my leg with this thread.......you really do have a career in comedy.

Was my understanding that if credit card debt was canceled or forgiven the creditor would issue a 1099-C which is considered taxable income and in which case you would have to pay tax on that amount at the end of the year. The only way to avoid paying that tax was if the debt was discharged through bankruptcy proceedings. Once the debt is discharged you do not have to pay tax on that debt even if you receive a 1099-C from a creditor, you just had to show your bankruptcy discharge paperwork.

Well you are getting closer to reality.....but here is the everyday problem that credit card companies have with debtors who simply quit paying......they really never forgive the debt. Most will try to sell the paper and get about ten cents on the dollar. They do not send out a 1099 because they did not forgive the underlying note....they simply sold it and took a loss. They will report that loss to the IRS. The assignee of the commercial paper will still try to collect. They might even get a judgment. However, if they go to court and get a judgment.......there is no duty to send out a 1099 because they have a judgment for the full amount which is owed......nothing has been reduced. So the entire premise you have created that you meant going bankrupt on credit cards.....as if bankrupt meant something else is still completely void of what is really happening in the real world.

What made your discussion of liens particularly amusing is that everything you said about them becoming secure and not discharged in bankruptcy was true as it relates to the attached property which the lien is placed, but the personal liability beyond the lien has been discharged......but most importantly.....no 1099 would be sent out to the debtor.....so the entire conversation was an absurdity.

The real world where your concern about a 1099 becomes relevant is when a person is not bankrupt or insolvent, but does not have the salary or means to keep up with their credit cards. In those situation where an offer of compromise reduces the debt as part of a settlement, in fact the credit card company may issue a 1099, but the reality is that most credit card companies usually have already sold the paper to a third party, and if that third party reaches that compromise amount......they may actually be making a profit......and there is no reduction from their cost basis in the commercial paper.....so no 1099 will issue.

The simple fact is that in the context of a mortgage foreclosure, it is usually a short sale which creates 1099 problems for a debtor....not credit cards......but if I continue......It would assume that you really want to discuss reality......not fantasy, or Orwellian concepts of doublethink.

2seaoat wrote: Did you give your friends the flu while they were visiting? How nice to have company in a flu house.

I posted a sign on the door......Seaoat had a sore throat this morning.......they read your thread on Bankruptcy.......and laughed with me.....you have entertained many this evening.....I am even getting private messages which I normally do not read.....usually something like this.....when is a bankruptcy not a bankruptcy.....LOL.......I do not know.....I am not one of those little green men running around in Dreams head.....

Feeling much better.....even though the Bears did not make the playoffs.....I have rarely had a more enjoyable day.......I might make a recommendation.....if you have not intentionally been pulling my leg with this thread.......you really do have a career in comedy.

WTH? Are you a compulsive liar or something? You said you had the flu. I think it's fascinating people are getting kicks out of this thread w/ such a minor issue. How mundane their lives must be.

2seaoat wrote:Was my understanding that if credit card debt was canceled or forgiven the creditor would issue a 1099-C which is considered taxable income and in which case you would have to pay tax on that amount at the end of the year. The only way to avoid paying that tax was if the debt was discharged through bankruptcy proceedings. Once the debt is discharged you do not have to pay tax on that debt even if you receive a 1099-C from a creditor, you just had to show your bankruptcy discharge paperwork.

Well you are getting closer to reality.....but here is the everyday problem that credit card companies have with debtors who simply quit paying......they really never forgive the debt. Most will try to sell the paper and get about ten cents on the dollar. They do not send out a 1099 because they did not forgive the underlying note....they simply sold it and took a loss. They will report that loss to the IRS. The assignee of the commercial paper will still try to collect. They might even get a judgment. However, if they go to court and get a judgment.......there is no duty to send out a 1099 because they have a judgment for the full amount which is owed......nothing has been reduced. So the entire premise you have created that you meant going bankrupt on credit cards.....as if bankrupt meant something else is still completely void of what is really happening in the real world.

What made your discussion of liens particularly amusing is that everything you said about them becoming secure and not discharged in bankruptcy was true as it relates to the attached property which the lien is placed, but the personal liability beyond the lien has been discharged......but most importantly.....no 1099 would be sent out to the debtor.....so the entire conversation was an absurdity.

The real world where your concern about a 1099 becomes relevant is when a person is not bankrupt or insolvent, but does not have the salary or means to keep up with their credit cards. In those situation where an offer of compromise reduces the debt as part of a settlement, in fact the credit card company may issue a 1099, but the reality is that most credit card companies usually have already sold the paper to a third party, and if that third party reaches that compromise amount......they may actually be making a profit......and there is no reduction from their cost basis in the commercial paper.....so no 1099 will issue.

The simple fact is that in the context of a mortgage foreclosure, it is usually a short sale which creates 1099 problems for a debtor....not credit cards......but if I continue......It would assume that you really want to discuss reality......not fantasy, or Orwellian concepts of doublethink.

Who are you talking to Seaoat? Alecto asked that question.. not me. You have mixed answers referring to the liens to me and Alecto's question. His question was about cancelled or forgiven debt not debt you quit paying on. Your giving him wrong advice on forgiven debt.

Are you a compulsive liar or something?
yep...... I just cannot help myself......and yes we must live mundane lives because you have provided a great deal of entertainment today.

Your giving him wrong advice on forgiven debt.


Really.....I did not know I was giving anybody advice.....I thought I was putting down flypaper.

hallmarkgrad wrote:

Damaged Eagle wrote:

2seaoat wrote:Best look again.

There was no personal attack given on my part until attacked.


My comment was directed at another poster.....AC/DC.....really?

The comment in bold that you used in your comment was mine.

Why not AC/DC?

*****CHUCKLE*****

https://www.youtube.com/watch?v=Xv24N8H1KyI

[img][/img]

*****SMILE*****

https://www.youtube.com/watch?v=vBQ9FRRghuQ

2seaoat wrote:Was my understanding that if credit card debt was canceled or forgiven the creditor would issue a 1099-C which is considered taxable income and in which case you would have to pay tax on that amount at the end of the year. The only way to avoid paying that tax was if the debt was discharged through bankruptcy proceedings. Once the debt is discharged you do not have to pay tax on that debt even if you receive a 1099-C from a creditor, you just had to show your bankruptcy discharge paperwork.

Well you are getting closer to reality.....but here is the everyday problem that credit card companies have with debtors who simply quit paying......they really never forgive the debt. Most will try to sell the paper and get about ten cents on the dollar. They do not send out a 1099 because they did not forgive the underlying note....they simply sold it and took a loss. They will report that loss to the IRS. The assignee of the commercial paper will still try to collect. They might even get a judgment. However, if they go to court and get a judgment.......there is no duty to send out a 1099 because they have a judgment for the full amount which is owed......nothing has been reduced. So the entire premise you have created that you meant going bankrupt on credit cards.....as if bankrupt meant something else is still completely void of what is really happening in the real world.

What made your discussion of liens particularly amusing is that everything you said about them becoming secure and not discharged in bankruptcy was true as it relates to the attached property which the lien is placed, but the personal liability beyond the lien has been discharged......but most importantly.....no 1099 would be sent out to the debtor.....so the entire conversation was an absurdity.

The real world where your concern about a 1099 becomes relevant is when a person is not bankrupt or insolvent, but does not have the salary or means to keep up with their credit cards. In those situation where an offer of compromise reduces the debt as part of a settlement, in fact the credit card company may issue a 1099, but the reality is that most credit card companies usually have already sold the paper to a third party, and if that third party reaches that compromise amount......they may actually be making a profit......and there is no reduction from their cost basis in the commercial paper.....so no 1099 will issue.

The simple fact is that in the context of a mortgage foreclosure, it is usually a short sale which creates 1099 problems for a debtor....not credit cards......but if I continue......It would assume that you really want to discuss reality......not fantasy, or Orwellian concepts of doublethink.

I guess you can see now I didn't ask the question and I already know all that stuff so you're not enlightening me one bit.However, when you bankrupt on those credit cards and the credit card company sells the account they only have 4 years to file a judgement in Fl. from the last defaulted payment. So if they don't the only thing they can do is ruin your credit. They can't get a lien or garnish your wages w/o the judgement.

2seaoat wrote:Are you a compulsive liar or something?
yep...... I just cannot help myself......and yes we must live mundane lives because you have provided a great deal of entertainment today.

Why would you say you had the flu and then say you had a sore throat? I thought it was curious you were having people over w/ the flu.

Dreamsglore wrote:

2seaoat wrote:Are you a compulsive liar or something?
yep...... I just cannot help myself......and yes we must live mundane lives because you have provided a great deal of entertainment today.

Why would you say you had the flu and then say you had a sore throat? I thought it was curious you were having people over w/ the flu.

Dreams, a sore throat is often part of the flu syndrome. I think you know that.

If Sea Oat wanted to invite friends over, and had even told them he wasn't feeling up to par, but they wanted to come anyway, what business is it of yours?

I once wrote that you were a bit of a bulldog like me. I take that back. You're one of those that bites and hangs on for all you're worth. Why are you afraid to let go?

Dreamsglore wrote:

2seaoat wrote:One thing about this forum is that your enemies come out and gloat

I have never considered you an enemy. I agree with you more than I disagree, but you follow this silly method of not addressing something when you are wrong. It is like you have this deep seated complex that somehow if you are wrong about something, you become somehow less of a person. I have over the years found that those individuals who have intellectual integrity will easily give up a mistake.....because they know that mistake does not define them.

You however attempt to bully some of these folks you are now calling enemies, and use the methods I have shown on this thread which results in them calling you names and exchanging personal attacks. I do not do that. I will shut a fool down who insists on continuing to convey inaccurate information, and I have lived my life for bullies, so I will simply stay on subject. You made a mistake. It was not a huge mistake, but a mistake nonetheless. When I tried to show your mistake, at first you insisted that your understanding was correct, but after you read the IRS regs.....you then began this silly context argument. A simple sentence.....seaoat your were right.....no tax is due on bankrupted credit cards....how hard would that have been.....it would have saved you the embarrassment of this thread.

They are calling me names and you have the nerve to say I am bullying them? They came on this thread and made insults in a conversation you and I were having and you say I bullied them? I don't know what you call enemies but they are not here for friendship. You're warped,Seaoat. I didn't make a mistake and I stand by what I said. I'm not embarrassed at all.. not one iota.

I didn't call you a name. I simply........smiled.

PBulldog2 wrote:

Dreamsglore wrote:

2seaoat wrote:Are you a compulsive liar or something?
yep...... I just cannot help myself......and yes we must live mundane lives because you have provided a great deal of entertainment today.

Why would you say you had the flu and then say you had a sore throat? I thought it was curious you were having people over w/ the flu.

Dreams, a sore throat is often part of the flu syndrome. I think you know that.

If Sea Oat wanted to invite friends over, and had even told them he wasn't feeling up to par, but they wanted to come anyway, what business is it of yours?

I once wrote that you were a bit of a bulldog like me. I take that back. You're one of those that bites and hangs on for all you're worth. Why are you afraid to let go?

The question is what business is it of yours I asked him that question? There is a vast difference between having a sore throat and the flu. You have also written I was a troll but we can see who the troll is. Why are you concerned about anything I post? You're not concerned about other people's?

Why would you say you had the flu and then say you had a sore throat? I thought it was curious you were having people over w/ the flu.

I will help you out. My wife had the flu for the last week. She has basically recovered, and she.....not myself had made social arrangements for last night. I got pampered yesterday morning with toast and hot coca when I told her I had a sore throat.....that is how her "flu" started, and I thought I was going down her same path. There are many times we socialize and if I am not feeling well.......I do not participate, and folks understand. No big deal. I felt fine yesterday evening and feel fine today.....and yes.....I did share this thread.......and yes.....I believe that laughter is the best medicine......and yesterday was......well a laughed filled day......I swear Dreams you can add Doctor to your resume.

2seaoat wrote:Why would you say you had the flu and then say you had a sore throat? I thought it was curious you were having people over w/ the flu.

I will help you out. My wife had the flu for the last week. She has basically recovered, and she.....not myself had made social arrangements for last night. I got pampered yesterday morning with toast and hot coca when I told her I had a sore throat.....that is how her "flu" started, and I thought I was going down her same path. There are many times we socialize and if I am not feeling well.......I do not participate, and folks understand. No big deal. I felt fine yesterday evening and feel fine today.....and yes.....I did share this thread.......and yes.....I believe that laughter is the best medicine......and yesterday was......well a laughed filled day......I swear Dreams you can add Doctor to your resume.

I didn't tell you yet I was a private investigator at one time. I thought I'd add that too. Insurance defense. Still have my old license.

I didn't tell you yet I was a private investigator at one time. I thought I'd add that too. Insurance defense. Still have my old license.


A gumshoe......telescopic lens and motel rooms....sounds like fun.

2seaoat wrote:I didn't tell you yet I was a private investigator at one time. I thought I'd add that too. Insurance defense. Still have my old license.


A gumshoe......telescopic lens and motel rooms....sounds like fun.

Didn't do cheaters. Just people w/ fake worker comp. claims.