So if, as so often happens, a creditor agrees to wipe your slateclean if you come up with most but not all of the money owed, you have to let the government know how much your debt was reduced by, and pay tax on it.
"It's an opportunity for us to wipe the slateclean, to begin anew, with the a recognition that we have many, many challenges ahead, " said Senate Democratic leader, Tom Daschle.