Legal Question in Credit and Debt Law in Virginia

Receipt of 1098 from creditor

Can a creditor send you a 1098 for a debt and continue to attempt to collect the funds?


Asked on 2/06/03, 11:39 am

1 Answer from Attorneys
Daniel Hawes Hawes & Associates

Re: Receipt of 1098 from creditor

Absolutely. (1098 refers to a form issued by the United States Internal Revenue Service.)

That form shows that the creditor received interest from you in the prior year that you may be able to take a tax deduction for, if the debt represents a qualified student loan. It has nothing whatsoever to do with collection of the debt itself.

Read more
Answered on 2/06/03, 6:53 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Virginia