Can only the OC issue a 1099C? (for credit card debt)
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In my experience, only an original creditor issued a 1099-C, and only after 3 years of inactivity from them in terms of trying to collect the debt.
In other words, they fell silent for about 3 years, I heard nothing from them, and then in late January of the following year I received a 1099-C from them in the mail.
From what I've read on other forums, junk debt buyers don't like to issue them, and they seem to have found some loophole which allows them to not issue them.
And yet, I have heard of some people who said that a JDB issued one after they settled with them. So, who knows?The world's simplest C & D Letter:
"I demand that you cease and desist from any communication with me."
Notice that I never actually mention or acknowledge the debt in my letter. -
it is the one that assumes the debt and the "write" off and claims it to the government as a loss, therefore; it is most logically that it is only the OC, as GoingDown has suggested.8/4/2008
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The OC, unless the OC sold the debt. Then the JDB could issue a 1099C.~Staci
Not an attorney, and never played one on tv. My responses are based on my own experiences & personal opinions.)Comment
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