date for debt cancelation
Date: Mon, 03/22/2010 - 07:54
i settled 9 different cards on different dates in 2009 what date do i use to figure insolvency 1st cards date?last card settle date?
According to my knowledge, the creditor with which you have sett
According to my knowledge, the creditor with which you have settled with will send the Cancellation of Debt Form, 1099-C at the end of the year and that form will bear a date of debt cancellation. The cancellation date is important as it will act as the reference point. Moreover the date you settled and paid the creditors should match with your records.
Hope someone more knowledgeable in this aspect will soon be around to help.
