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Re: 1099 A "Why Chat"

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Posted by LadynRed ( on November 07, 2002 at 12:44:00:

In Reply to: 1099 A "Why Chat" posted by hotdami812 on November 07, 2002 at 12:19:45:

The CA is an idiot and obviously doesn't know jack squat !! A 1099-A is issued by a lending instition, I ought to know, I got one when my forelosed house was sold. The 1099-A (bascially a sale of property, said something about abandoned) only listed the amount of the loan, what the house sold for and the appraised value.. nothing more. YOU, the consumer, do NOT issue a 1099-A !!!

You're absolutely correct about the 1099-C, it is issued for 'cancellation of debt income' and you would get a copy of one if you had settled for any amount over $600 and you'd have to include that with your yearly taxes and pay income tax on the amount.

A 'secured state' ?? I don't know what that is, sounds like more CA babble. NO ONE can garnish your wages without first winning a lawsuit and getting a judgment, so their threat of garnishment, is a threat of a legal action that they CANNOT take and therefore a violation of the FDCPA. If you're Head of Household in FL, you have some pretty good exemptions from wage garnishment too, so the CA is REALLY full of crapola !

There's nothing for you to 'file'.. forget it and tell this CA to pound sand !!

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