Portfolio Recovery - Debt From 2000
Date: Tue, 07/21/2009 - 23:14
Any time you tell a collector a debt is old and past the S.O.L., is it likely they will send a 1099c?
Or when the S.O.L. expires, do they just have a year to send the 1099c?
the creditor can send you a 1099C form only if you have settled
the creditor can send you a 1099C form only if you have settled the debt for less and the exempted amount exceeds $600. If the debt is past SOL, you are no longer required to make any payment towards the debt. The SOL starts form the date of your last delinquency and its duration varies from one state to another depending on the state you live in.
sC...being past the SOL has no bearing on whether you are "requi
sC...being past the SOL has no bearing on whether you are "required" to make a payment. You still owe the debt. The SOL means that the debt cannot be legally enforced..i.e....they cannot sue you. However the debt is still valid and owed.
PortFOOLio sent me another bill, and it is for another old accou
PortFOOLio sent me another bill, and it is for another old account from 1998...that is IF it is even mine. First I will ask for proof the debts are mine.
When I tell them to go away,(sol long ago expired) can they just send a 1099C? I have read they are famous for sending a 1099c when they can't collect a decade old debt. That's how they make money.
