1099-C Cancellation of Debt

tryingagain62 · ‎02-01-2014

I received a 1099-C Cancellation of Debt today from Portfolio Recovery for a account they purchased from a CC that was a CO and I have to file it on my taxes. Portfolio is not reporting this on my CR but the original CCC is, now that this has been canceled and I will pay this as income on my taxes can I get the CCC issuer to delete it?

gdale6 · ‎02-01-2014

No. You can dispute it if there is something wrong in the way the OC is reporting it.

Shogun · ‎02-01-2014

+1

The cancellation and the issuance of a 1099C does not mean the account must be removed from your CR.

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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tryingagain62 · ‎02-01-2014

@Shogun wrote:
+1

The cancellation and the issuance of a 1099C does not mean the account must be removed from your CR.

Gotcha,

This means that no one else can come after me for the debt right?