Re: may work out ok!

Posted by Why Chat (12.77.151.154) on May 22, 2002 at 14:38:42:

In Reply to: Re: may work out ok! posted by robyn on May 22, 2002 at 04:54:02:

If the ORIGINAL creditor agrees to a settlement, they are obligated by IRS rules to report the $$ difference as income to you on a 1099C. If a collection agency has been SOLD the account, they frequently resell the balance to another collection agency.

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