Login|Contact Us
Question and Answer

Legal

Ask a Lawyer, Get an Answer ASAP!

  • Ask A Question
  • Browse Answers
  • Meet The Experts
  • How JustAnswer Works

I have a Debt and just got a 1099-C is that a bad thing

 
FiveStarLaw's Avatar
  • Answered by:FiveStarLaw
  • Attorney
  • Positive Feedback: 98.0 %
  • Accepted Answers: 8027
Verified Expert
in Legal

Recent Feedback

Positive
She answered all my questions to my satisfaction. I appreciate her time
Positive
I was really worried about any statute of limitations on our problem and the...
Positive
quick honest report may not have been what i wanted to here but what i thought.
Positive
Service was great and quickly executed. Thanks!
Positive
Thank you for the info. Now I need to figure out how to use it
Positive
Quick and easy. Great service.
Positive
I'll probably know more once I contact a lawyer for a 2nd opinion now but if...
Positive
Thanks!
Positive
Yes thanks. Dictionaries do not replace professional experience, so I value...
Positive
Nice person, helpful

Customer Question

I have a Debt and just got a 1099-C is that a bad thing

Submitted: 358 days ago.
Category: Legal
Value: $28
Status: CLOSED

Accepted Answer

Picture
Expert:  FiveStarLaw replied 358 days ago.

*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*


Welcome to JustAnswer,

My name is WebLaw. I shall do whatever I possibly can to provide you with helpful information about the law. Please keep in mind that, although I am an attorney, I am prohibited from giving customers of the site legal advice or forming an attorney-client relationship on this forum. That said, if the information which I provide is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.

It is good news and bad news. First the good news - the creditor has decided to write off the debt declaring it noncollectable and will typically not be taking action to collect the debt. Now the bad news – this discharge of indebtedness is considered ordinary income


I think this is what you wanted to know. Please let me know if I have answered your question

Expert TypeAttorney
Category: Legal
Pos. Feedback: 98.0 %
Accepts: 8027
Answered: 4/21/2012

Experience: 25 years of experience helping people like you.

Ask this Expert a Question >
 
Tweet

19 Lawyers are Online Right Now

Ask Your Question Now
Legal Questions Date Submitted
hello again. I need some additional input concerning how best 4/10/2013
Hello I helped my boyfriend financially to clear up some 4/10/2013
I have been employed for 16 years with a major Mass based co 4/10/2013
I was injured at work in a fall from a piece of heavy eqipment3/21/13. 4/10/2013
im being sued by a person from paypal. She sold a conterfeit 4/10/2013
Today when I attempted to file my taxes, I was surprised to 4/10/2013
I have an LLC which currently, in addition to the services 4/10/2013
I went to the hospital because I overdosed on Advil. All I 4/10/2013
My 17 year old daughter has a friend that will be graduating 4/10/2013
I signed a Roofer's General Contractor's Insurance Claim Assistance 4/10/2013
RSS
Next 10 >
Ask A Lawyer
Type Your Legal Question Here...
characters left:

Top Legal Experts

See More Lawyers

In The News

Nbc
Washington Post
New York Times
Cnn
Learn More

How It Works

  • Ask an Expert
  • Get a Professional Answer
  • Ask Followup Questions
  • 100% Satisfaction Guarantee
Learn More
 
 
 

Recent Articles in Legal

  • Quit Claim Deed Related Questions
  • Warranty Deed Questions
  • Zoning Law Questions
  • Credit Report Questions
  • Automatic Stay Questions
  • Gender Discrimination Questions
  • Insanity Defense Questions
  • Arson Questions
  • Bait and Switch Questions
  • Mortgage Fraud Questions
All Legal Articles
 
 
 
close
Find Expert answers related to your question.
Sign up using email
We will never post anything without your permission.
Already have an account? Sign in

Ask a Lawyer

Get a Professional Answer. 100% Satisfaction Guaranteed.
208 Lawyers are Online Now
Type Your Legal Question Here...
characters left:

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Truste
Contact Us | Terms of Service | Privacy & Security | About Us
© 2003-2013 JustAnswer LLC