1009 C Question

[mlsihs]

I just received at 1099 C from Capital One for $882. I didnt know what it was for so I called the and was told it was from an Orchard Bank Mastercard that was opened in 1999 and closed in 2002. I have no memory of this card. Apparently C1 took over Orchard Bank at some point and is not saying they charged off this debt in 2014. I dont see this account on my credit reports. I am at a loss as to what to do with this especially since I filed my tax return last week. Any suggestions would be helpful.

[Anonymous]

I got one of them recently from a collection that still lurks on my EQ report... Grounds for reporting dispute? I'm more than willing to pay the tax on it if it means it is forever gone from my report..

[Anonymous]

Not a valid grounds for dispute or removal. Merely means they have given up on collecting and will no longer pursue the debt. Does not negate the original validity of the debt.

[mlsihs]

Its not even reporting on any of my CRs. I dont remember this card and cant find any information about it other than Capital One saying they got it from HBSC/Orchard Bank. Who do I dispute it with and my return is filed. What to do about that?

[Anonymous]

Thats a tough one. You might claim its a possible ID Theft item, and get Cap One to rescind the 1099-C. That would require filing a police report and swearing an affidavit that you never authorized the account in question. Not sure if that would work, with it being so old.