Re: Just from my own experience, the best kind of opinion to give.
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Posted by celce (205.188.195.172) on July 01, 2002 at 23:39:53:
In Reply to: Just from my own experience, the best kind of opinion to give. posted by Christine, on July 01, 2002 at 23:10:23:
I think that WhyChat's answer was correct in a sense...the original creditor CAN send a 1099C if they choose to....many times they don't even bother. All you can do is wait and see...you definitely don't want to call them and ask "where is my 1099C? or Will I get a 1099C?" I had a friend who was forgiven $400k on a loan...and he definitely got a 1099C...but if the amount is small (<10k) then I doubt the bank would bother...but legally they can. I wouldn't lose sleep over it.
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