Form 1099-C reports canceled debt to the IRS when a creditor has forgiven or erased a balance owed so a taxpayer no longer has to pay it. What Is Form 1099-C: Cancellation of Debt? Lenders must submit ...

You will receive a 1099-C Cancellation of Debt form if a lender forgives more than $600 of taxable debt. You must include the amount of canceled debt on your federal tax return as a part of your ...

Although Consumer Financial Protection Bureau (CFPB) priorities and mandates are undergoing shifts with the new Trump administration, the CFPB pledged in 2024 to continue its efforts to eliminate ...

With federal oversight in retreat, deep-pocketed collection companies are aggressively pursuing down-and-out consumers who ...

Just the sound of a ringing phone can trigger instant trepidation when you're dealing with calls from debt collectors. Whether it's related to an unexpected medical bill, a credit card balance that ...

Scammers use texts, calls, emails and letters to create a false sense of urgency about debt repayment. Always ask for detailed information about the debt and the debt collector’s contact details to ...