We received a restitution payment from a debt consolidation company we had worked with. The documents stated that restitution was made as a result of the company's "unfair and deceptive practice" in violation of the FTC act and for violating the Truth in Lending Act and Electronic Fund Transfer Act. We were not aware of anything until the check arrived in our mailbox. I am assuming that this would count as taxable income, but would like to verify for sure.
