1099-C form question????

[israelcolon]

New York State:

Today I received a notice from the IRS stating that I had not filed a 1040 form for the calendar year 2002. When I called IRS they told me that I had a 1099-C form {cancellation of debt} filed against me on 12/31/2002 from a Bay Loan & Investment Bank in Providence, RI for a mortgage debt they claim I owed to them. My problem is I have no idea who this company is and why they are stating I owe them any mortgage? I have never owned a house or co-signed for a house? So can anyone help me with some advice as to what I should be asking the Bay Loan folks as to proof of my signature on any company paper they might claim I signed? Do I have the right to have them mail me or fax me the contract on which my name and signature allegedly appear?

Thanks,

Israel

 

[amortgageman]

I would call the mortgage company and ask them what this is all about. It only takes one keystroke error to get an incorrect Social Security number. Be nice, you will get better results.

When they discover that this is not your account, then have them put this on their letterhead and follow up with the IRS.

 

[HUD-1]

You may want to pull a copy of your credit report to make sure the error did not show up there as well...

 

[HomeGuru]

New York State:

Today I received a notice from the IRS stating that I had not filed a 1040 form for the calendar year 2002. When I called IRS they told me that I had a 1099-C form {cancellation of debt} filed against me on 12/31/2002 from a Bay Loan & Investment Bank in Providence, RI for a mortgage debt they claim I owed to them. My problem is I have no idea who this company is and why they are stating I owe them any mortgage? I have never owned a house or co-signed for a house? So can anyone help me with some advice as to what I should be asking the Bay Loan folks as to proof of my signature on any company paper they might claim I signed? Do I have the right to have them mail me or fax me the contract on which my name and signature allegedly appear?

Thanks,

Israel

**A: did you ever have a mortgage that went into foreclosure? Sometimes the original lender sells the loan, the loan goes into foreclosure and the new company writes off the deficiency but sends the 1099 form. If this is the case, the write off by the lender would be considered income to you by the IRS.

 

[israelcolon]

Thanks all........

Thank you all so much.......I asked them{Bay Loan Investment BK} to send me proof of the documents and of my signature........I should be getting that this week in the mail........I will check to see whether the signature is mine or not? If it is not{which I have no doubt it is not} then I have to figure out what kind of plan of attack I should proceed with the IRS and Bay Loan?

Any words of advice as to what I should do if the signature is not mine???? Also when I spoke to Bay Loan on the phone last week.............they said that a Promissory Note with my name and signature existed from 06/29/1988. I never signed anything in 1988 with anyone about anything......I had just graduated from college that same year on the 4th of June 1988.

Regards,

Israel

 

[HomeGuru]

Ok then good luck and good fighting.