Florida  |  Credit and Debt Law

Legal Question

Asked on: 2/06/07, 11:09 am

1099-C issued after Judgment

A Credit Union gets a default judgment on a debtor. Then issue a 1099-C to the debtor for the full amount in 2007 Does that cancel or satisfy the Judgment as well as the debt?

The Credit Union is still reporting an amount owed and the Judgment is still showing unpaid on the Credit reports.

No collection efforts were made since 2002.

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