What Is a 1099-C Form and How Does It Affect Your Credit?
Credit Corp
APRIL 26, 2024
A 1099-c cancellation of debt form is issued when a lender forgives or cancels a debt. So, while getting a 1099-C itself doesn’t change your credit at all, you’ve probably already experienced a negative hit to your score. You must also be an applicable financial entity, such as a bank or credit union.
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