Comments on: Can a Collection Agency Issue a 1099-C for Settled Debt?

By: michelle

michelle — Mon, 30 Jan 2012 11:59:58 +0000

I just received this past week a 1099 from capitol one bank for a debt that was written off at least 5 years ago perhaps more. how do I proceed with this, how can they say this is for 2011 when they did not write the debt off in 2011?

By: Sara

Sara — Sat, 28 Jan 2012 20:06:41 +0000

I also received a 1099-c that includes interest and penalties. My original credit limit on the card was something like $500 and the 1099-c is for more than $1700. I never paid the debt due to their shady finance charge practices in the first place. I would also like to know if it’s true they can’t claim interest.

By: Derek

Derek — Tue, 10 Jan 2012 14:39:56 +0000

Citi-Bank (Home Depot) told me the other day they sent me a 1099-C for 2010. I moved so much that I never got it. I haven’t heard from the IRS, but I’m sure I will. Is it true they can’t claim all the penalties and interest? Cause they did.

By: Scott

Scott — Wed, 21 Dec 2011 21:32:56 +0000

If the S.O.L has ran out on a debt, can a collector still file a 1099c? Even if I haven’t made any type of payments to them? I’m starting to receive threats of this filing