Sentences with phrase «sometimes forgive debts»

Creditors will sometimes forgive debts if the situation calls for it.

Not exact matches

There's a third word, aphiēmi which is the root for aphesis, and is sometimes translated forgive (like in first John 1:9), and yet it seems to be used more in the sense of cancellation of debt, than in the sense of release from bondage.

The general tax rule that applies to debt forgiven treats the amount forgiven, sometimes referred to as phantom income, as taxable income to the borrower.