Deborah, who is single, is having financial trouble and stopped paying her VISA credit card. After several months the credit company worked out a payment plan with her. She has a $10,000 balance and is required to pay $100 a month for five years. The total payments amount to a flat $6,000 with no interest or finance charges. Deborah does not have to report income for the $4,000 that she does not have to repay.
O True
O False