tax 1099c
Date: Sat, 07/11/2009 - 02:35
I had two credit cards,and defaulted four years ago. The state SOL is four years. My credit cards are now SOL, but a debt buyer company bought the debts.
Now that the SOL ended, will the debt buyer send me a 1099c for 2009's tax return?
I posted this queston in another place..incorrect place. sorry.
Now that the SOL ended, will the debt buyer send me a 1099c for 2009's tax return?
I posted this queston in another place..incorrect place. sorry.
They can only legally issue a 1099c if they sue you and you use
They can only legally issue a 1099c if they sue you and you use SOL as a defense to get the case dismissed. If they issue you one on an unvalidated debt you can dispute it with the IRS. I am quite certain the IRS would take a dim view of a company using them to make money or strongarm a payment out of you.
Your best bet is to send a debt validation letter. With old debts it is highly likely that the JDB only has minimal information and no documentation to prove the debt actually exists or that you owe it.
