Settled debt in 2012, but no 1099-C
Well, it's more than expected
Well, it's more than expected that you should've received your 1099-C form by now. However, since you haven't, hence it's time you had a little chat with your creditor regarding this.
Submitted by Sanders Patricia on Tue, 02/12/2013 - 04:37
It's strange that you've not
It's strange that you've not received a 1099C form yet. If you have made the payments in 2012, then you should get a form by now. Any way, don't underestimate the creditors/collection agencies. I'm sure they'll send you the form.
If I was in your position, then I would have been happy to receive the 1099 form. :)
The CC issuer/CA has 3 years
The CC issuer/CA has 3 years to send you that 1099c but for now, you need to call up the CC issuer/CA and ask them about 3 things:
1. The amount forgiven as per their record
2. The date on which the final payment was posted
3. The missing 1099c form
The IRS will include the forgiven portion of the debt in their calculations for the tax year during which the final payment was posted, that is, if your creditor posts the last payment on January, 2013, You will be paying taxes on this account in 2014.
Your best best is to call your creditor and ask what is going on.