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Creditors and Bankruptcy/settlements form 1099-C
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Question
I am going to try and settle my debts myself. If they go to collections, do they issue these forms or only the major creditors? I do not want IRS looking for me!!! I hear that people are having to claim the write off settlement as income.
They issue 1099 forms for every account settled that saves a consumer $600.00 or more. Think twice about performing the work yourself, you probably don't hold the required experience when dealing with creditors/ debt collectors. There are plenty of great companies out there that can help you for a minimum fee.
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Answers by Expert:
Ontrack Financial Group llc
Expertise
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Experience
Please read about us at Https://www.OntrackFinancialGroup.com
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Banking & Finance
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