What does a 1099c mean to me?

Posted by Heidi (152.163.252.134) on October 18, 2003 at 12:19:21:

NY State - I received an offer from an attorney's office (re: Proidian debt now $5761.00) stating that if I choose to liquidate the debt, they will confirm in writing.

The letter close with a statement that says: "If after settlement, the remaining balance is greater than $599.99, their client may be required bt fed law to report the amount and issue a 1099c".

What does this mean???

Thank you.

Heidi

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