The IRS requires any entity discharging a debt to file an “information return” on a Form 1099-C with the IRS. See Treas. Reg. § 1.6050P-1(a). Debt collectors or creditors will sometimes mail a form 1099-C to a consumer when debt is settled, discharged, or...
We’ve received many inquiries this week about negotiating with debt collectors. Let’s get right to it… if you are sued by a debt collector, or even if you’ve received a phone call or a letter from them, you SHOULD NOT negotiate with them by...
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