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When you get a 1099-C that means the debt is cancelled and you have to claim it as income and pay taxes on it. However, the IRS will let you claim insolvency. Being you only receive SSI.
They cannot send you a 1099-C cancelling the debt then try to make you pay it. Big no no. There is no debt if it has been cancelled. I don't care what the OC wants, it is not up to them.
You need to contact the IRS ASAP and claim insolvency based on no income other than SSDI.
@nma851 wrote:
Guiness it isn't the 1099-C $$$ that they're after - it is the balance of this unsecured SL - as they claim, due to the law changes (last post and a few others hit on the specifics), they're saying this loan is NOT PAID via P&TD and they're wanting that $$ - it's not the IRS or anyone over a tax matter.
Does this clarify or am I just making this more difficult to explain/understand? Believe me you should be thinking "what the heck this guy isn't making sense" as I'm not. However, this is literally EVERY excuse I've been fed since I rocked the boat and challenged Sallie Mae I've this loan allegedly being "non-dischargeable" under P&TD 4 years later.
Let me know if you need me to clarify anything else hun. I'm sorry again for the poor explanations.
HI nma851, they can try has hard as they want to get there money. That face that your on SSDI now they can't touch that. I'm really sorry for what happen to you but all means, if the OC knows this and I'm sure the IRS will know soon they can not touch your SS. The law even states this. Ask any consumer attorney. We are here to help, please PM me or anyone else if you want to talk in PM. Guiness, myself or shogun...... I'm sure they don't mind me speaking on their behalf. God bless and keep myself and everyone informed!!!!!
DaBears
@nma851 wrote:
Guiness it isn't the 1099-C $$$ that they're after - it is the balance of this unsecured SL - as they claim, due to the law changes (last post and a few others hit on the specifics), they're saying this loan is NOT PAID via P&TD and they're wanting that $$ - it's not the IRS or anyone over a tax matter.
Does this clarify or am I just making this more difficult to explain/understand? Believe me you should be thinking "what the heck this guy isn't making sense" as I'm not. However, this is literally EVERY excuse I've been fed since I rocked the boat and challenged Sallie Mae I've this loan allegedly being "non-dischargeable" under P&TD 4 years later.
Let me know if you need me to clarify anything else hun. I'm sorry again for the poor explanations.
Ohhhhh! Got it. Any type of debt IS dischargable, including SLs. If you don't have the means to pay it, and it would hurt you, it can be discharged. Since your PT&D was filed 4 years ago, they have to go by those laws. They can't keep changing to fit their needs.
Read this article I found. You will find it very interesting http://www.disabled-world.com/disability/finance/student-loan-claims.php
Believe it or not I understood your posts. I was just confused on the 1099-C.
Did you read that article? It is stating that SM is forgiving private, unsecured SLs due to PT&D. No, they do not have to because they are not federal but that article, written 3 years ago, says they are.
Just a FYI,,,, not even on the Ban meter's radar. . And yes, occassionally I have to walk away too and get things in perspective. Best of luck to you.
What an inspiring read. I'm so happy for you and hope that you experience further positive and successful endeavors. Yes, it does make us feel quite good to hear stories such as yours. Continue to be a part of our community and if possible help others and pay it forward.
Shogun, a Happy Shogun.