Credit Card 1099. Tom? Anyone?

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  • Former Teacher
    Advanced Daycare.com Member
    • Apr 2009
    • 1331

    Credit Card 1099. Tom? Anyone?

    I know this isn't about daycare but I hope someone can help.

    A friend of ours had some credit card debt a few years ago that they got a 1099 on. I have never heard of this.

    The one credit card company years ago took them to court and a judgment was issued. They hadn't heard nothing from this card again. The rest of the cards they received 1099 on all of them.

    My questions are: Can these credit card companies continue to issue 1099s every year? Is this the final say? Can they finally get these card off their backs?

    Any information would be helpful.

    Thanks so much!
  • TomCopeland
    Business Author/Trainer
    • Jun 2010
    • 3062

    #2
    credit card debt

    Originally posted by Former Teacher
    I know this isn't about daycare but I hope someone can help.

    A friend of ours had some credit card debt a few years ago that they got a 1099 on. I have never heard of this.

    The one credit card company years ago took them to court and a judgment was issued. They hadn't heard nothing from this card again. The rest of the cards they received 1099 on all of them.

    My questions are: Can these credit card companies continue to issue 1099s every year? Is this the final say? Can they finally get these card off their backs?

    Any information would be helpful.

    Thanks so much!
    Sorry, I don't know the answer to this question. When a person receives a Form 1099 it represents how much money they received from another person/company.
    http://www.tomcopelandblog.com

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    • sahm1225
      Advanced Daycare.com Member
      • Jun 2010
      • 2060

      #3
      Was the debt discharged so the company took a loss on it? I've never heard of credit cards issuing those but I've heard of families getting tax pairs after foreclosure because the bank forgave their loans.
      Sorry I'm not much help

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