Hello, I have a question, please. If a collection agency issues a 1099c, will the amount of the forgiven debt be the original amount of debt, before all the late fees and interest were added? Or, will the amount listed as forgiven debt ,include fees and interest?
Example:
If the credit card balace was 3000 at the time of the last payment, and 4 years later the balance has fees and interest added, making the new balance be 5000....which dollar number is listed on the 1099c?