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gregshears

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Will a 1099c affect my credit score.
I received a 1099c from a credit card company for a debt that they will not validate. Can this affect my credit.

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A 1099c is a copy of the report of a cancelled debt made by the credit card company to the IRS.  This will have to be reported as income on your tax return.  Since it is NOT a credit transaction, it will not affect your credit score.

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JenDobs19

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After the cancelled/forgiven debt has been reported to the IRS, can the original creditor still seek payment on that account?

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1099

We got a 1099 this past year on an old debt how longs does it take to show up on credit?  I was told it should be taken off your credit once this is sent out?

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