Re: I have never received a 1099c

Posted by Drew (24.59.25.2) on July 20, 2004 at 00:29:52:

In Reply to: I have never received a 1099c posted by Still Nervous on July 19, 2004 at 22:55:22:

You probably won't recieve a 1099C.

A 1099C is only issued when the original creditor settles with you and decides to forgive the remainder of the debt. An 1099C is only given if the forgiven, unpaid amount is greater than $600. If the debt is forgiven that means there is no debt and it is discharged.

That is not happening. They have charged off the debt, have taken a tax write-off, and have either assigned the debt to a collection agency hoping to collect something on it or they sold it outright to a collection agency. If it is with collection agencies, they have not forgiven the debt and you are not getting a 1099C.

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