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Internal Revenue Code Section 108: Federal tax law governing the taxation of cancelled debt, including exclusions and requirements for reporting forgiven debt as taxable income

Form 1099-C Requirements: IRS reporting requirements for cancelled debt, mandating creditors to issue Form 1099-C for cancelled debts of $600 or more

Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed

Fair Debt Collection Practices Act (FDCPA): Federal law that limits the behavior and actions of debt collectors and establishes guidelines for debt collection practices

State Usury Laws: State-specific laws that regulate interest rates and protect borrowers from excessive interest charges

U.S. Bankruptcy Code: Federal laws governing bankruptcy proceedings and their impact on debt forgiveness, including provisions for discharge of debts

Fraudulent Transfer Laws: Laws preventing the transfer of assets to avoid paying creditors, including both state and federal provisions

Statute of Frauds: State law requiring certain types of contracts to be in writing to be enforceable, including agreements regarding debt

Fair Credit Reporting Act (FCRA): Federal law regulating the collection, dissemination, and use of consumer credit information, including reporting of debt forgiveness

State Statute of Limitations: State-specific time limits for bringing legal action to collect a debt or enforce a written agreement

State Contract Laws: State-specific laws governing contract formation, enforcement, and remedies, including requirements for valid consideration

Documentation Requirements: State-specific requirements for written agreements, including notarization and recording requirements where applicable