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That is why a creditor must attempt to file a legal suit in which the debtor must declare all his assets under oath when asked by the judge. Debtors are legally bound to pay their liabilities like outstanding credit cards or unpaid bills etc. Transactions on the Blockchain are cryptographically secured.
However, Florida courts have held that charged off debt is not forgiven, as may still be pursued for debtrecovery and satisfaction. Banks and credit unions that understand their legalrights following the issuance of a 1099-C can likely continue collection efforts to recover debts that have been previously written off.
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