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. A property is foreclosed or repossessed. You may want to double-check with your bankruptcy lawyer about whether you need to claim 1099-C income relevant to your bankruptcy discharge. However, this does not influence our evaluations.
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