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1099-C
BayHouse Credit Forum: 10/1999 to 01/2001: Credit Reporting, FICO Credit Scoring, Disputes, Collections, Charge-offs, Bankruptcy, CCCS: 1099-C
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Rosemarie Caligiuri (Wilfire99)

Thursday, June 22, 2000 - 03:53 am Click here to edit this post
If a creditor settles a debt for less than is owed and issues a 1099-C, doesn't the creditor have to report that the account is settled/paid in full to credit bureaus? Not "settled for $$$$$"?

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Shylock (Shylock)

Thursday, June 22, 2000 - 04:20 am Click here to edit this post
If a creditor settles a debt then your credit report should be updated to R5 or show the notation "paid collection" or "settled for less than amount owed."

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