Quick Answer: A 1099-C form received 10-12 years after defaulting on a Discover Card debt represents tax reporting, not debt validation. To dispute the 1099-C with the IRS, one should request Form 4598 to be opened, which triggers IRS contact with the creditor for correction or additional information.
Question:
Dear Steve,
Approximately 10 to 12 years ago, I was unable to continue paying on my Discover Card. This debt is from 10 to 15 years ago. I have no records in my files concerning this particular debt.
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I just received a 1099C form from the IRS. I know that I cannot dispute this debt with the IRS but how do I dispute it with the creditor, in this case, discover as far as proof to validate the debt is concerned under the circumstances
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Answer:
Dear Marc,
You have two different situations going on here. The 1099-C form was sent to the IRS by the creditor and is a tax reporting function. It has nothing to do with the validity of the debt.
If you want to focus on the 1099-C form issue then you need to contact the IRS, good luck, and ask to have a Form 4598 opened on the 1099-C.
The IRS will then contact the creditor requiring a correction or additional information. See this post for more information about this.
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Asked question about old Discover Card 1099.
Answered.