Re: Settle or not pay??
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Posted by airics
(188.8.131.52) on April 28, 2004 at 12:23:22:
In Reply to: Re: Settle or not pay?? posted by Andrea on April 28, 2004 at 08:00:59:
double check this but if you settle with the original creditor or the collection agency working for them, you will receive a 1099c and have to pay taxes on the amount of debt forgiven... on the other hand, if it was bought, i dont think you get a 1099c
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