RECEIVED A 1099C WHAT TO DO?

[Kaliman2]

Two months ago I contacted a lender I had a credit card debt with about settling an paying the debt, but I was told that a 1099C was going to be issued and that I no longer were responsible for it. I was told to send the 1099C to credit bureaus once received. Will it make a difference if I send the 1099C to credit bureaus? if so how I go by sending? I am trying to clean my credit reports. The debt still damaging my credit report. Thank you,

[bergmi]

As far as I know, the 1099-C has nothing to do with the credit bureaus, it is a tax document.  It appears that the creditor has written-off the debt, and that is realized as income to you.  You'll have to include this as income when you file your taxes.  

[pizzadude]

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@Kaliman2 wrote:

Two months ago I contacted a lender I had a credit card debt with about settling an paying the debt, but I was told that a 1099C was going to be issued and that I no longer were responsible for it. I was told to send the 1099C to credit bureaus once received. Will it make a difference if I send the 1099C to credit bureaus? if so how I go by sending? I am trying to clean my credit reports. The debt still damaging my credit report. Thank you,

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The CSR you spoke with was misinformed, as stated above the 1099 is a tax doc and has nothing to do with credit reporting or CRAs.

The amount of forgiven debt is now considered income and you'll have to include it with your tax filings for the year with the IRS.

[OmarGB9]

I suppose the CSR thought that the 1099C could be used to zero out the debt for the respective account on your reports, but that's THEIR (the lender's) job, not yours. The moment they decided to cancel the debt, they should've sent out an update to the bureaus as well zeroing out the debt.