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Can a Lender Pursue Debt Collection After a Charge Off and 1099-C Issuance?

Jimerson Firm

FEBRUARY 10, 2022

Generally, if debtors owe a debt to a lender, and the lender cancels or forgives that debt for less than its full amount, the debtor is treated for income tax purposes as having income and may have to pay tax on this income by virtue of a 1099-C filing from the lender. 1.6050P-1(b)(2)(i). See IRS Info.

Lender 98
Lender Credit Unions Credit Unions Collections 98
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Domesticating and Enforcing Your Foreign Judgments With a Massachusetts Collections Attorney

Collections Law

APRIL 1, 2020

As we have helped and represented numerous foreign judgment creditors over more than three decades, we have a sound understanding of the procedural rules and Massachusetts law pertaining to foreign judgment enforcement. Though it is their legal right, they can manipulate them to delay the debt payment process.

Judgment 52
Judgment Collections Debtor Foreclosure 52
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