Erasing Debt?

[Slap Stick]

In the US if you are forgiven cc debt it is reported to the IRS and you are taxed on that amount as income.
I haven't used a cc in at least ten years.
I pay cash or I don't buy.

 

[slepr1]

why should Chase, wipe out debt people incurred at all ?
they spent it, they are liable & responsible for it,
maybe just don't don't spend it if you can't pay for it !!!
fucken' logic, would dictate that simple fact

Wow you sound angry Budnicks. You should direct that anger towards Chase Banks decision makers because we had nothing to do with it. If your CC debt is forgiven you are lucky, not irresponsible.

I didn't have a Chase credit card and don't know anyone who does. They only serviced Amazon and Marriott cards.

This is the first time in history that I've heard of a credit card company forgiving loans. I'm sure they got their loaned money back but maybe not all the interest and profit they could have accumulated.

 

[Hey-O]

Wow you sound angry Budnicks. You should direct that anger towards Chase Banks decision makers because we had nothing to do with it. If your CC debt is forgiven you are lucky, not irresponsible.

I didn't have a Chase credit card and don't know anyone who does. They only serviced Amazon and Marriott cards.

This is the first time in history that I've heard of a credit card company forgiving loans. I'm sure they got their loaned money back but maybe not all the interest and profit they could have accumulated.

I can't and won't speak for him, but, I get a little frustrated with doing the right thing and then see people who spend their lives waiting for the free ride bus to show up at the house. Like student loans, if they forgive them, I want my 200 thousand plus dollars back too!! Just saying!!

 

[Slap Stick]

Chase will write it off.

 

[slepr1]

see people who spend their lives waiting for the free ride bus to show up at the house

I agree with the principle of your post.

 

[steve from staten island]

Bla Bla Bla.

Wow you sound angry Budnicks. You should direct that anger towards Chase Banks decision makers because we had nothing to do with it. If your CC debt is forgiven you are lucky, not irresponsible.

I didn't have a Chase credit card and don't know anyone who does. They only serviced Amazon and Marriott cards.

This is the first time in history that I've heard of a credit card company forgiving loans. I'm sure they got their loaned money back but maybe not all the interest and profit they could have accumulated.

Its a me me me, I do I do, same old same old, ive heard it so many times I lost count.
The fact that Chase can forgive CC debt should give everyone a idea about how much money they make.

 

[steve from staten island]

I can't and won't speak for him, but, I get a little frustrated with doing the right thing and then see people who spend their lives waiting for the free ride bus to show up at the house. Like student loans, if they forgive them, I want my 200 thousand plus dollars back too!! Just saying!!

Student loan being forgiven is partially because our young people have been effectively brainwashed into thinking they need to go to college to get a decent job.
What can we expect when blue collar jobs disappear by the hundreds of thousands and the trade jobs go to others....Its a scam and while I do not agree with forgiving any loan owed, there is a reason why idiot politicians are pushing this

 

[1967coronet440]

What’s amazing is that it’s cheaper for them to wipe out everyone’s debt and close up shop then continue to do business there. Says something about the leader of the country imo.

 

[steve from staten island]

In the US if you are forgiven cc debt it is reported to the IRS and you are taxed on that amount as income.
I haven't used a cc in at least ten years.
I pay cash or I don't buy.

You are doing exactly what my late father believed in.
But reminiscing a story comes in mind. My dad was a product of the depression and then went into the service during WW2. As far as I can remember he never really bought anything for himself. Of course in his final years he treated himself to a new lawn tractor and some shop tools from Sears, he enjoyed wood working.
After he passed my mom gave me all his old papers and such. I found letters I wrote home when I was in basic training. I also found a bill and a payment book from Sears dated around 1949, three years before I was born. Pop bought a Elgin 5 1/2 hp outboard. It seemed mom and him enjoyed the lake upstate. So he would rent a rowboat and go boating around the lake. He bought that outboard on "time". I was amazed he would ever do that but the proof was there in front of me. He was given a payment book from Sears and every week put a couple of dollars toward the outboard.
The catch was he didn't get the engine until it was paid.
There it was in front of me. He never used that outboard after we were born. We tried to once but the cooling impeller was dry rotted.
I still have that outboard