[17th Miss Regt]

In the U.S. that debt forgiveness would be taxed as income. Not sure about Canada.

[fruser1]

It’s also a tax deduction for chase.

[Mouton]

Dear Maple Leaf Customer:

Good news, we have voided your card and canceled your debt to our bank.

Bad news, attached is the Canadian equivalent of IRS form 1099 which is being reported as income to you.

Perhaps they will be able to extract some money from you that we cannot.

Good day