settlement produced 1099
Date: Wed, 06/30/2010 - 13:11
Can the credit card company report the part you didn't pay as income? I was told they can't but can not find any information about it.
No, the creditor cannot report the part of debt forgiven as inco
No, the creditor cannot report the part of debt forgiven as income. Can you tell whether or not you received any 1099C on your debt?
It you settle, the written off portion is suppose to be report a
It you settle, the written off portion is suppose to be report as income on a 1099...anything over $600.
