credit911 Posted March 18, 2012 Report Share Posted March 18, 2012 When charge-off accounts fall out of one's credit report after 7 years, will each of the original creditors send 1099-C's? Link to comment Share on other sites More sharing options...
willingtocope Posted March 18, 2012 Report Share Posted March 18, 2012 Not neccesarily. There are several different reasons why a creditor would issue you a 1099c. Charge off and falling off your CRs are NOT any of them. Link to comment Share on other sites More sharing options...
TomnTex Posted March 18, 2012 Report Share Posted March 18, 2012 If I recall correctly, they must issue a 1099-C if the amount is over $600.00 and, it must be issued within three years of the default. Link to comment Share on other sites More sharing options...
willingtocope Posted March 19, 2012 Report Share Posted March 19, 2012 Not exactly. Its "within 3 years of an identifiable event". There are several...like they cease trying to collect...but CO isn't an "identifiable event". Link to comment Share on other sites More sharing options...
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