1099C cancellation of debt form
If you receive a 1099C cancellation of debt form and claim it as income on your tax return, can the cc company continue to try and collect the monies from you? Acct went to bad debt in 2003 and in 12/2007 a 1099C was received. Before then, no other contact at all. Filed amended return in 2/2008 to add this 1099C as income and just 2 weeks ago, the cc company called and said we still owe. Claim the 1099C cancellation of debt form is not what it says and we still owe. Today received a letter stating they are going to take the collection as far as they can to collect the debt. Lived in PA at time of debt now in FL. Statute of Limitations is 4 years in both states. Do we owe on this debt? Please help. Both of us are on SSD and own nothing but our home. Thank you.