Foreclosure Lender Repossession Retrieval 
Credit Corp
APRIL 26, 2024
A 1099-c cancellation of debt form is issued when a lender forgives or cancels a debt. A property is foreclosed or repossessed. Foreclosure election E, Debt relief from probate or similar proceeding F. So, if your debt isn’t canceled via repossession, bankruptcy or other such processes, cancellation could happen at any time.
Troutman Sanders
JULY 27, 2023
The Bureau last did this in 2016 by announcing in Supervisory Highlights that auto finance companies should prohibit repossession agents from charging personal property storage and retrieval fees, and the Bureau followed that announcement with both supervisory activity and a consent order in 2020 on the same subject.
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