HoleInTheRoof77
Junior Member
What is the name of your state (only U.S. law)? Virginia
Backstory summary - Job loss led to unpaid credit card debt. Last payment received by creditor was in 2010. I don't know how to prove this as all reports of this debt have fallen off credit reports. I used to keep old copies of credit reports, but I have moved a number of times in the past few years and potentially stupidly got rid of some stuff.
I just got a notification from the IRS that I did not report a cancellation of debt on my 2016 taxes, whereas Discover reported it to the IRS. As such, they're suggesting I owe them money, plus penalties and interest. Approx 2k.
My questions are....
Any advice?
Backstory summary - Job loss led to unpaid credit card debt. Last payment received by creditor was in 2010. I don't know how to prove this as all reports of this debt have fallen off credit reports. I used to keep old copies of credit reports, but I have moved a number of times in the past few years and potentially stupidly got rid of some stuff.
I just got a notification from the IRS that I did not report a cancellation of debt on my 2016 taxes, whereas Discover reported it to the IRS. As such, they're suggesting I owe them money, plus penalties and interest. Approx 2k.
My questions are....
- Is the last payment date of 2010 (actually might've even been 2008 or 2009) relevant, and if so what could I do to help prove that?
- SOL for credit card debt is 3 years, correct? So how could they have reported a cancellation of debt past this time period?
- If I was never sent a 1099, can they still report it as cancellation of debt?
- If I was never sent a 1099, but the CoD is 'valid', how can I be responsible for non payment penalties and interest when I had no idea about it in the first place?
Any advice?