Re: unpaid debts...

Posted by LadynRed (199.91.33.254) on August 26, 2003 at 12:53:03:

In Reply to: unpaid debts... posted by Mary on August 26, 2003 at 11:00:28:

Patti is correct, YOU don't do anything with a 1099-C except report it on your income tax - if necessary. The IRS would be after you, not some scummy collection agency.

The other thing to note here is that it may NOT be necessary for you to list the 1099-C as income IF you were insolvent at the time the 1099-C was issued. Most of us deep in debt ARE insolvent... so that's usually NOT a big hurdle to get over.

As for this nonsense that our credit system is illegal - its garbage - those sites are scams for the perpetrators to make money SELLING their "programs" to desperately in-debt people.

How old is this debt the lawyer is contacting you and making threats about ?

Who is the original creditor (OC) and when did you last pay them ??

What state are you in ??

I'd be willing to bet that this is a slimey collector trying only to baffle you with bullshit - the nonsense about the 1099-C is telling.

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