there are a lot of companies that will negotiate your debt forgiveness by up to 60% ,but only in some states?
In this day and age it's very common to negotiate your debt with creditors. Most is asked the right way will try to work something out, but be cautioned. The remaining balance left on the account will be considered as income to you,and you will have to report it as income on your tax return.
Bankruptcy laws allow you to have debt forgiven. Beyond that, it's up to the companies holding the debt as to whether they will negotiate a debt reduction, and that's not just in certain states.
Some of the "debt solutions" companies only operate in particular states because they aren't licensed in all states, often because their business practices don't pass standards in some states.
References :
In this day and age it's very common to negotiate your debt with creditors. Most is asked the right way will try to work something out, but be cautioned. The remaining balance left on the account will be considered as income to you,and you will have to report it as income on your tax return.
References :
Its monitored by the FDCPA
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf
http://en.wikipedia.org/wiki/FDCPA
http://en.wikipedia.org/wiki/Fair_debt_collection