[Karen37a]

And I am not a Tax Consultant **

When you settle certain debt...not only will it show on your credit ( and settled debt is worse than a collection) because people think if you did it once, you can do it again so I am not lending to you or offering you credit.

The creditor can elect to send you 1099 c and that must be reported as taxable income.

This is why its best for merchants-borrowers-people have a live person( iso/broker) who has the experience to help them make the right decisions for the health of their business and themselves going forwards.

No automated system can ever take away "consultative selling" and best advice.

Some brokers are all about rate rate rate...some are about the growth of the personal business with best advise as evidenced by the doubling or revenue of 50% of their merchants ( who then come back for a renewal...)

This is how brokers earned their measly 2-3 psf fee ( everyone who argued against it vehemently is gone and it was a sign they didn't give consultative advice to help anyone or understand the process)

Sometimes the best advice is 1.50 take it or leave it