Pay Taxes With Credit Card

I pay $ 30,000 in credit card debit. I want to know if it will hurt my credit if I negotiate with the credit card companies? In addition, if they negotiate with me this will be an earned income for me at the end of the year ... How do I pay tax on that good money? Would it be better to just pay the whole or to negotiate with them?

Yes, giving less of what you need to be reported to credit reporting agencies, and it will hurt your credit.

Yes, you owe tax on the difference between what you owe and what you pay for. It is not earned income. The labor income has a very specific meaning. But he came back for tax purposes. You pay taxes to whatever your marginal tax rate is.

It is better, morally, ethically, and financially, to pay what you need in full.

Yes, it will hurt your score, especially if the accounts are currently in good and due form. The account will be closed and marked "settled" - same effect on your score as a compensation cost. Some credit card companies will not even consider a settlement for less than full balance.

If you do negotiate a settlement, the credit card company may send you a 1099 party for you and pardoned to claim as income on your taxes. Figure about 20% to 30% for taxes.