cancel
Showing results for 
Search instead for 
Did you mean: 

1099-C BOA Charge Off Account don't know what to do?

tag
labeledjl
New Contributor

1099-C BOA Charge Off Account don't know what to do?

  I received a charge off for a Bank of America account in full on a 1099-C I filed with my taxes and thanks to this forum have gotten Experian to mark it paid with a zero balance how do I get TransUnion and Equifax to follow suit.  Seems as Equifax is the biggest PITA to get anything done seems like they make their own rules any suggestions on how to get them deleted or all marked $0 I've sent disputes for delete or change balance with the 1099-C with no change?

 

THanks.

Message 1 of 57
56 REPLIES 56
DaBears
Senior Contributor

Re: 1099-C BOA Charge Off Account don't know what to do?

Have you faxed or mailed them a copy of the 1099-C and explaining to them they need to update accordingly? Bank of America should have updated their TL as well. I would contact them first. If they refuse I would file a complaint with the CFPB

Message 2 of 57
labeledjl
New Contributor

Re: 1099-C BOA Charge Off Account don't know what to do?

Yes I have sent disputes with the 1099-C no change on TransUnion or Equifax still showing a balance.  If they verifed the account and still reporting full balance after 1099-C for amount in full isn't that a legal issue I could sue over?  I just want it marked zero or deleted it's not that hard to comply, I complied with the tax obligation so WTH?

Message 3 of 57
guiness56
Epic Contributor

Re: 1099-C BOA Charge Off Account don't know what to do?

Message 4 of 57
DaBears
Senior Contributor

Re: 1099-C BOA Charge Off Account don't know what to do?

+1 Guiness, File a complaint with the CFPB asap!!!

Message 5 of 57
labeledjl
New Contributor

Re: 1099-C BOA Charge Off Account don't know what to do?

Ok i files to cases with CPFB one for transunion and one for equifax with all supporting documentation.  How long do they take to resolve a case at CFPB?  Did i do this right by submitting on the two bureaus that won't change the tradeline?

 

Thanks again.

Message 6 of 57
guiness56
Epic Contributor

Re: 1099-C BOA Charge Off Account don't know what to do?

I can't answer the how long before you hear something.  It could depend on several factors.

 

Yes, IMO, you did the right thing.  Once you get a 1099-C and paid taxes on it, the debt is forgiven and you no longer owe.

Message 7 of 57
labeledjl
New Contributor

Re: 1099-C BOA Charge Off Account don't know what to do?

They sent a email saying they opened a reinvestigation again this is getting old.  I hating waiting for people to update whats spose to be on the report this is total BS, i have a mortgage company waiting on this to be marked $0 so i can get a loan.

Message 8 of 57
guiness56
Epic Contributor

Re: 1099-C BOA Charge Off Account don't know what to do?

Message 9 of 57
DaBears
Senior Contributor

Re: 1099-C BOA Charge Off Account don't know what to do?

Be patient, I have heard great success stories from the CFPB. Let them do there thing. It will be resolved!!! Smiley Wink

Message 10 of 57
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.