Posted on: 03rd May, 2010 04:22 pm
I was forclosed December 2009 in massachusetts on a commercial mortgage and recieved a 1099-c irs debt cancellation notice. Now I am beging sued for the same amount on the IRS 1099-c form. Can the bank issue that IRS form and proceed with a lawsuit for the deficiency?
Hi PatrickL!
Welcome to forums!
A 1099-c form will be issued to you only when your debts have been forgiven by the lender. If the lender has already forgiven the dues, then he won't be able to sue you for the dues.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
A 1099-c form will be issued to you only when your debts have been forgiven by the lender. If the lender has already forgiven the dues, then he won't be able to sue you for the dues.
Feel free to ask if you've further queries.
Sussane