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1099-c debt cancellation

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Brenda K.

Guest
texas

2001 $30m debt cancelled(or 'charged off'), numerous creditors, have not received 1099-c from them all, should i be worried,should i call creditors? how do i know if they reported it to irs, but not me? do not want audit!
also, how do i prove insolvency or will i have to?

thank you
 


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Brenda K.

Guest
the paperwork i received from each of the creditors says settled paid in full. some of them also state that as a result of IRS regulations applicable to discharges of indebtednedd, they are required to file a 1099-c information return with the irs if the balance forgiven is $600.00 or more. each of the 6 creditors settled with me for over $600.00.
so, you tell me, they state both words in their final statements, settled and forgiven.
:confused:
 

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