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LDD/Steven Wade Thomas VS. PS85 Conclusion

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Old 03-14-2010, 11:11 PM
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You must have been the guy that was packaging all those bad loans and selling them on the market Nordic.
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Old 03-15-2010, 08:35 AM
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I never thought you would be able to collect and I still feel that way but if you really want to put to LDD, here is an idea that could work. Any debt over $600 that is forgiven is taxable as income. You could send him and the IRS a letter stating that the debt is forgiven and he would be taxed on $513,400. I know Dean12567 on this forum is a CPA maybe you should PM him or consult your accountant.
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Old 03-15-2010, 09:05 AM
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Any debt over $600 that is forgiven is taxable as income. You could send him and the IRS a letter stating that the debt is forgiven and he would be taxed on $513,400.
That hurts just thinkin' about it!
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Old 03-15-2010, 10:13 AM
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That hurts just thinkin' about it!
NO KIDDING!
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Old 04-27-2010, 09:17 AM
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I just want to say that I have a lot of respect for prostock. After everything he went through, it sounds like he has forgiven the guy. This is something rarely seen on here. He is a bigger man than me, as I would not have done that. Good job man!!!! Kinda inspirational.
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Old 04-27-2010, 09:24 AM
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Originally Posted by Skullkrusher View Post
I never thought you would be able to collect and I still feel that way but if you really want to put to LDD, here is an idea that could work. Any debt over $600 that is forgiven is taxable as income. You could send him and the IRS a letter stating that the debt is forgiven and he would be taxed on $513,400. I know Dean12567 on this forum is a CPA maybe you should PM him or consult your accountant.
Not 100% sure, but I believe that is no longer the case. The Obama admin pushed for a change on that due to all the short sales.
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Old 04-27-2010, 09:48 AM
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Like I said, an accountant should be consulted but you are incorrect on both points. That rule was enacted by GWB admin. and it is only on debt related to primary residence.
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Old 05-16-2010, 03:21 PM
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Would really be interested in speaking with someone concerning Steven Wade Thomas. I could tell you some stories going back ten years, as I chase him and track him down from one coast to the nest, trying to rectify a hefty debt he has with me. Anyone know where he is now?
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Old 05-16-2010, 04:29 PM
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what he said, arrogance is and going to be the downfall of lots of people
agreed...been a great case, learned a lot..
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Old 05-16-2010, 07:05 PM
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I liked Tiger's apology better!
At least Tiger got laid a bunch of times by hot women. LDD just f*cked himself.
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