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. I just received a 1099C form from the IRS. I know that I cannot dispute this …
Question: Dear Steve, I had 2 mortgages from timeshare accounts default a couple of years back. One had the debt discharged in 2018, and the creditor issued a 1099c for the remaining balance. This was included as income in our 2018 return. The second one foreclosed in 2019, and the “credit grantor reclaimed the collateral …
Question: Dear Steve, I got a 1099-C from a bank headquartered in Malaysia for $970, but I never owed anyone that amount, and it is not on any of my credit reports. The 1099-C says forgiven debt for retail. Again, nothing on any credit reports like that. I filed my taxes to be on time, …
Question: Dear Steve, I have credit card debt and have received a 1099-C indicating that the company has canceled the debt. This is not true — they are not only continuing to pursue it but have increased it beyond the amount indicated on the 1099-C. If they had canceled the debt, the amount would not …
Question: Dear Steve, Is it lawful for a creditor to issue a 1099-c to a non-debtor spouse? The debt was incurred by the debtor spouse during marriage, but the non-debtor spouse was not a party to the debt and did not guarantee the debt. Irrespective of whether the community estate may be liable for the …
Question: Dear Steve, Ran through a rough patch a few years back. Three vehicles were voluntarily surrendered for repossession. My wife and I jointly owned all vehicles as borrower and co-borrower. My wife and I both received three (3) 1099-c forms for those three repossessions. I received three; she received three. Each vehicle’s canceled debt …
Question: Dear Steve, I know you’ve sort of covered this question before. My ex-husband and I recently received a 1099 C after a short sale. The short sale occurred because he wouldn’t cooperate with selling the property. The property was our primary residence. However, I now live in Virginia, and he lives in Maryland. He …
Question: Dear Steve, In 2020 I hired a law firm to help me settle six credit cards that I could no longer afford to pay even the minimum payments on after I lost my job. When I lost the job, I also lost the $3,000 net I used to make there monthly. Two of the …
Question: Dear Steve, We found your website looking for help with a 1099-C (G) form we received. I would appreciate your expertise. In 2006, we received an SBA loan through a local bank. We ended up closing the company and filed for bankruptcy. In 2011 we received a 1099-C for cancellation of the debt with …
Question: Dear Steve, My ex and I took out a HELOC before the divorce. She quit claimed the home to me. I recently settled w HELOC, and the balance of the debt was forgiven. My ex and I both received 1099-c forms. My debt was discharged through a chapter 7 bankruptcy. My ex never claimed …
