I am settling a debt with a credit card company. How do i avoid a 1099-C.?
The collection agency sent me a settlement offer. Can i add any language in my response to avoid a 1099-C.
I was thinking of saying "apply to principle first" or "this is payment of a contested liability."
appreciate any response.
Posted September 7th, 2010 in Debt Settlement. Tagged: principle.
If you pay less than the full amount owed, there is no way of avoiding a 1099-C that I know of.
September 7th, 2010 at 11:56 pm