Legal Question in Credit and Debt Law in Florida

I was told by a credit card that if I don't pay whats owed they will charge it off and send the IRS a 1099 and the charged off debt will be income for me and I have to pay taxes on that debt. Is that true and legal. I am unemployed now and the reason cannot pay and have told them so.


Asked on 6/25/10, 11:21 pm

1 Answer from Attorneys
Leon Ferraez Ferraez, LLC

Yes, they can do that.

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Answered on 6/26/10, 9:52 am


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