I received a 1099C this year for a forgiven debt that I was required to claim as income. The debt was from BOA for a remaining balance on a HELOC years ago and I was attempting PFD prior to the 1099C. I have already taken care of the IRS tax reporting and the IRS already received my payment. After investigating the best I could myself, I believed that I could dispute the balance that was still showing on all 3 bureaus. TU came back immediately as updated to zero balance, EQ and EX came back as accurate and remains. However, a few weeks later all 3 bureaus now report an arbitrary, lower balance. I just sent a request for reinvestigation with copies of the 1099C, but now I am thinking I maybe should have sent something to BOA instead? The TL is due to fall off in January. Any opinion if I am right or wrong by trying to get the balance to show zero and trying to have the bureaus reinvestigate? Or, should I just let it rest until it falls off?
P.S. - I have started receiving several calls from a CA apparently, although they haven't left a message and I haven't been home to answer. This started immediately after the disputes. I don't have any other accounts that a CA could be calling about. So, I am guessing it is a JDB that is trying to collect something on it an maybe that is the new balance reporting?
Thanks for the replies. I guess I was just looking for some comfort in anyone agreeing with what I have done to this point, or to see if anyone had a difference of opinion. I will wait to see what the reinvestigation requests with the 1099C copies turns out. If that doesn't work, I suppose I will just wait it out for the rest of the year since I do not plan on app'ing for anything, until the reports clean up.
I am not worried too much about the CA (again, I googled the number on my caller ID and it is listed as a CA) because everything I have researched points towards this old debt not being collectable anymore. The only other CO I have was PIF years ago which I already verified again with the OC, so I can only imagine a CA calling about the BOA CO. The reason I suspect this is because years ago a CA did once try to collect on that same debt and when I sent a DV to them, they stopped calling. Even so, I do not see any SP INQs on any report from any CAs. Just seems not by coincidence the calls started after I disputed with the bureaus. The previous balance on the CR was accurate, however the 1099C was for much more and it must have been for other late charges and interest /shrug. It seems that a computer dump is just re-reporting a balance, which this new balance just doesn't match anything imaginable.