Re: Reporting credit card debt to IRS?

Posted by LadynRed (199.91.33.254) on February 03, 2003 at 10:56:20:

In Reply to: Re: Reporting credit card debt to IRS? posted by anon on February 01, 2003 at 13:40:31:

No, sending the account to a collection agency doesn't cancel the debt, doesn't 'forgive' it - they send it there to GET their money, period.

They're handing you a truckload of horse manure for sure. If you have to deal with them telling you that again, then I'd say to them 'fine - if you're going to send a 1099 then that means you're forgiving the debt and I don't owe you any money any more. Works for me !!' Then I'd hang up.. I'd be willing to bet they call back in a hurry - then I'd let them know that you know they full of it.

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