Most people believe that if they settle off debts, they are free of owing the money. Yes they are, however there is a little unkown catch in America that may shock you. For example, let’s say you settle a credit card debt that is for ten thousand dollars or ten thousand six hundred Euros. You end up settling for five thousand dollars or fifty-three hundred Euros. Surprise, surprise you will now be taxed by the IRS for the five thousand dollars you didn’t pay. Most people are shocked by this expecially since the credit card interest is extremely high. The rates that they charge now was once considered extortion and many individuals were convicted of excessive fees. Interesting how times have changed. What was once illegal is now acceptable for the banks. I have seen rates as high as thirty percent. That is a significant number which is why many people cannot pay off their credit card debts. Many of the companies offer zero percent interest the first year and minimum payments the following year. That is exactly where they hook you as people don’t realize that whatever they spend will eventually have to be paid off and suddenly they will owe a great deal more than they could have possibly imagined. There are numerous companies that will help you consolidate your debts but they don’t tell you that you will be taxed on what you didn’t pay. The IRS treats it as income. That may be why bankrupcy is so popular. People can start with a clean slate and get into debt all over again. I actually know a person who has filed bankruptcy twice and I am actually wondering when he will file a third time. I prefer no credit cards as I don’t want to make payments. How do you feel about debts? There is cold weather and in many places snow now. It’s time to stay indoors and order online. I can’t think of anything better than a Good Gus book for a child on your list or to donate a book to a sick child in the hospital. Remember, “Misplaced Trust” is an interesting read with five stars on Amazon for the adults on your list. The Good Gus Series is available online at Kindle, Nook and Waterstones. Hard copies, personally autographed, are available through our website www.goodgusbooks.com along with past blogs for your reading enjoyment. Now available audio and videos for the Good Gus series on YouTube! Digitizing for all the books are available now on YouTube! “Misplaced Trust” is now available on Amazon in e-book form. It is also available digitally at www.misplacedtrustbook.com. If you are thinking of a Will or a Living Trust, “Misplaced Trust” will give you the information you need to make an informed decision. The Good Gus series, books one through four, are now available at the Morgan Mill Mail/UPS.