Justice of the Peace 3-1. North Dallas Government Center – 6820 Lyndon B. Johnson Freeway, Suite 3100, Dallas, Texas 75240-6511If you owe a debt, act quickly — preferably before it's sent to a collection agency. A debt forgiveness contract is a legally binding agreement outlining the terms and conditions for the forgiveness or cancellation of debt between two parties. Sec. 1702.001. SHORT TITLE. This chapter may be cited as the Private Security Act. This article will make the process of responding to a debt lawsuit a little bit easier and tell you how to answer a summons for debt collection in Texas. Dallas County on Monday held a webinar about public service loan forgiveness, a program that can help wipe out debt from federal direct loans. When debt is canceled, the amount of debt forgiven is treated as taxable ordinary income to the debtor. The FDIC may be able to assist you in obtaining a lien release if the request is for a customer of a failed bank that was placed into FDIC receivership.