Legal Question in Civil Litigation in Georgia

1099-C/Judgment

Received a 1099C from Creditor (World Finance) Canceling a debt as of 12/31/05, and I have paid taxes on the amount. They had obtained a default judgment on 11/25/02 for this debt. After disputing w/CRA the judgement now shows ''satisfied.'' My questions are: 1. Can I file a motion to vacate this judgment based on this fact? 2. Can the OC continue to report an increasing balance (or a balance at all) to the CRA's? 3. DO they have any legal recourse to come after me for the $ after filing 1099c and me paying taxes on it? 4.. Does the judgment carry any weight now that they have canceled the debt? Thanks!


Asked on 2/18/07, 5:51 pm

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: 1099-C/Judgment

Taxes, credit reports and collections are three different things, and one rarely controls another. The information on your credit report will likely have no relevance at all to the judgment. You provide no information at all on what your credit report actually says, but obviously you have a debt you didn't pay and that will be reported. Tax returns (your and theirs) can be amended if they want to collect from you later.

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Answered on 2/18/07, 6:07 pm


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