Quessssssssssstion?????????? Do CA's receive a tax break for monies collected??? or Do CA's receive a tax break or write off for monies not collected??? The reason I asked Tx Collect, Inc dba CTI who is collecting for their client Presidents Trust Company LLC mailed a letter dated April 15, 2004. Of course that date ignited a light bulb. The letter is a settlement letter stating with no specifics on it other than a dollar amount. Inpuuuuuuuuuuuuuuuut
This is pure speculation: The OC does get a tax break on a charge-off. So, it stands to reason that if the CA BUYS a contract for pennies on the dollar (for example) then when they charge it off of their books (say, maybe due to SOL) then they could take a write off too, since it is a loss to their assets. But, if the OC was only assigned the debt, then they do not own it -- so they aren't taking a loss to assets... so NO they wouldn't get a tax break.
