Legal Question in Credit and Debt Law in Texas

Debt Collector Turning Debt into IRS

My husband's exwife ran up a credit card bill using his SSN, name (but name on account is spelled wrong) ten years ago. No payments have been made in 7 years. The debt collector's sent us a letter saying the account ''is now reportable to the IRS as income on Form 1099-C, pursuant to Title 26 Section 6050P, if you continue to refuse to pay this account''

Is this true? Can they turn this into the IRS as income?

Thanks


Asked on 10/30/07, 9:27 am

1 Answer from Attorneys
TC Langford Langford Law Office

Re: Debt Collector Turning Debt into IRS

If they do, you need to dispute it with the IRS. Use the documentation you have to establish that he did not benefit from, nor use the credit.

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Answered on 11/06/07, 3:01 pm


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