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@labeledjl wrote:Trying to find an attorney in my legal services plan through work to save money I have a hyatt legal plan through my job i've contacted a few waiting on a response. The thing is that they say the generated a new account number to report to the bureau's and thats the account that was issued the 1099-C on it lol. Something is iffy here and I need this matter resolved asap, still waiting on CPFB case to finalize on this matter also. I waiting on a mortgage approval and this is the hold back the fact that their still reporting a balance on trans and equifax but not experian. I live in the Chicago suburbs joliet area.
Fellow suburban here from the Chicagoland area Did you recieve my PM? It in the upper middle right of your screen.
Couple of last questions for you I'm still waiting on a response from that firm you refered me to. Since BOA are idiots would it be wise just to send a ITS letter from an attorney to the 2 cra's asking for $0 balance or removal I've seen on a couple of google searches about ITS letters that they do work effectively. Also still no response form CPFB claims transunion hasn't even posted a partial answer yet what should i do call transunion and equifax directly and ask about the CPFB complaint or just wait it out?
I wouldn't interfere with the complaint to CFPB. Let them do their job.
Wait until you hear from CFPB before sending an ITS. It could delay the process of the complaint.
tell me what you think of this letter BOA sent sounds like they are doing something they shouldn't be.
Sorry, had to remove. You can repost but be sure to edit the representative's name out. Thanks Shogun
They can not do that. I would seek legal advise. Did the CFPB ever get back to you?
I agree. They cannot send you a 1099C and write it off their taxes as a loss and still collect the money from you. This would essentially mean they get the money twice. I would contact an attorney and get their expert opinion.
is inequitable to require a debtor to claim cancellation of debt income as a component of his or her gross income and subsequently pay taxes on it while still allowing the creditor, who has reported to the Internal Revenue Service and the debtor that the indebtedness was cancelled or discharged, to then collect it from the debtor. …… The court does not agree with the argument that because a Form 1099-C can be corrected or amended, it cannot constitute an admission by a creditor that a debt has, in fact, been discharged or cancelled and that the debtor is no longer indebted thereon.
This is a ruling on one such occassion of this. But it's not a cut and dry type of thing. Some states consider it closed, others do not. I would seriously consult an attorney in your area that is knowledgeable in this.
No response from CPFB but i went into equifax dispute system and the numbers matched my complaint number and the account is still reporting with a balance after they reinvestigated the account.
Contact the lawfirm I referred you too.
Same issue, same bank. TU zeroed it, the others report the balance.
BoA does change account numbers regularly, so it just makes for a greater mess.
I was also told to report BoA to the IRS...they cannot double dip. I have not done this yet.