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Galen48 · Jan 23, 2007, 07:04 PM

Late 1998 I filed bankruptcy which was subsequently discharged spring of 1999. Yesterday, 1/22/07 I received a 1099-C from one of the creditors. When I called they told me they show no bankruptcy and that the debt was charged off in 1998. While I am now taking steps to resolve this (proving the debt was included in the bankruptcy) why would they wait until now to file a 1099-C? On the form they show the date of the cancellation of the debt as 12/26/06. Is there a statute of limitations in the state of Texas on a creditor filing a 1099-C? Will it immediately go on my credit report? Any help you can give me on this confusing matter would be greatly appreciated.

Fr_Chuck · Jan 23, 2007, 07:27 PM

Ok, the 1099 C is merely the form you file on your taxes as income, they are showing the debt wrote off, and as you noted they wrote the debt off on 12/26/06.

So this is for you to file on your income tax

If this was included in the bankrutpcy you need to get that cleared up also. But the 1099 C was sent to the IRS just like your W2 forms for you to file with.

Galen48 · Jan 23, 2007, 07:36 PM

Originally Posted by Fr_Chuck

Ok, the 1099 C is merely the form you file on your taxes as income, they are showing the debt wrote off, and as you noted they wrote the debt off on 12/26/06.

So this is for you to file on your income tax

If this was included in the bankrutpcy you need to get that cleared up also. But the 1099 C was sent tot he IRS just like your W2 forms for you to file with.

Thanks Chuck. Much appreciated. I have spoken with the IRS as I have a strange feeling I may be filing my taxes prior to this being cleared up with the creditor:rolleyes: