Established Contributor
sphinx313
Posts: 562
Registered: ‎02-12-2011
Re: Advice please on large collections with JDBs (long)

JDB=Junk Debt Buyers. The 1099's obviously only apply if the debt is settled for less with more than $600 outstanding. If you BBB them, I'm not sure that it clears your responsbility for the debt moreso than it stops that particular company from collecting. You would have to be advised on the 1099-C.



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