Re: CC Debt, Charge-Offs, IRS & 1099-C
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Posted by Why Chat (209.240.198.61) on February 10, 2003 at 14:47:24:
In Reply to: CC Debt, Charge-Offs, IRS & 1099-C posted by jeje00 on February 10, 2003 at 14:35:30:
The charge-off is not income, it is the unpaid amount on a SETTLEMENT that is income. If you never pay any amount in "settlement" or if you file BK you are never obligated to pay taxes on any charged off amount.
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