Tag Archives: cancellation of debt

Zombie Debt 1099 Style. And You Thought Your Old Debt Was Dead. LOL.

THE KING OF ZOMBIE DEBT: THE 1099-C. WHAT TO DO WHEN COLLECTION CONTINUES AFTER RECEIVING A 1099-C By Gregory M. Fitzgerals, Esq. Most folks who get a 1099-C accept that it is a good news/bad news thing. The bad news is you must include the 1099-C as income on your taxes. The good news is [...]

Debt Settlements May Be Voided And the Money Due Anyway

A recent posting, “An IRS 1099-C Form Does Not Mean Debt is Discharged” caught my eye. It highlights a great potential risk for people that use debt settlement to eliminate their debt. The surprise is that while they think the debt settlement process has discharged their debt, it absolutely might not. A third circuit bankruptcy [...]