[Larry381]

I’m not a big fan of banks but I recently had Chase forgive $10,000 on a credit card where my wife owed 13,000.
My wife had to quit her job suddenly because of Hepatitis C and was unable to pay the $500+ per month due on the card.
It was not easy and it took nearly a years worth of paperwork to accomplish it but they shaved the 10 grand off the total.

[ladyjane]

I recently had Chase forgive $10,000 on a credit card where my wife owed 13,000.

Is she going to pay it back?

[dfwgator]

Does the forgiven amount count as income for tax purposes?