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My Car Was Stolen and I Got a 1099 for the Amount Written Off. – Darrin

Written by Steve Rhode

“Dear Steve,

In 2005 I had a vehicle stolen. My insurance paid the “value of the vehicle” to the lender, however there was $1,000 not paid. After much back and forth with the insurance agency and the lender the lender decided to write off the debt.
Now January 2013 I received a 1099 for the year 2012 from the lender in the amount of $1,000.

Should I ask that the 1099 be back dated to 2005 when my income bracket was lower than now?

Is there any way I can fight this 1099?

Is there a special form I need to fill out so it will reduce the amount of taxes I have to pay on this old written off debt?


Dear Darrin,

The key question here is in what year did the lender make the decision to write off the debt?

I think this previous posts will help you. See How to Deal With a New 1099-C Issued on Old Debt Using Little Known IRS Form 4598.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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