When  a creditor files a 1099-c does that mean the debt comes off the credit report?
109214
No! A 1099c is given to you to report as income on your taxes for the unpaid but "forgiven" debt from the creditor. Once you pay the income tax on the forgiven amount, the creditor can not come after the same amount again. The debt is therefore, forgiven. It has absolutely nothing to do with the credit report itself. \n\nNow as far as what is showing on your credit report you will have to tackle that as a seperate issue. Look at the tradeline and make sure it reporting correctly. If it isn't you may dispute as being incorrect.
325234
The creditor will come after the co-signer because both parties are equally liable for all of the debt.  If you co-signed, you can (1) pay it, (2) file BK yourself, or (3) live with it on your credit report as an open collection item, or as a write off.\n\nYou can also try to negotiate a settlement for less than the amount owed, but that's still doing the first option.
235578
If you were paying the payments on time then paying off your loan will probably have very little effect on your credit score, positive or negative.\n\nYour question is about Credit Reporting Lag, the time from when you pay off(down) a revolving account or pay off a loan to when it is reported on your credit files. The time frame can be from 30-90 days with the average being about 60 days.\n\nGood Luck
748305
I hope that in your divorce this issue was addressed.\n\nIf there are still amounts owing on the joint debts, they will stay on your report until they are paid off.  And as long as your name is on the debt, you credit will reflect the payments & history.\n\nThere is no way to remove the joint debt reporting, this will be a part of your credit history for at least 7 years.   If the debts have been paid off and the accounts closed, then you can submit a paper explaining why accounts were late (if they were) etc. \n\nGood luck & congrats on your new life.
758008
If it's paid off that's a good thing & can only help your score based on satisfactory accounts, so why do you want it off?  \n\nEither way, all your credit accounts, bk or not, will always be on your credit report.  BK will show "discharge" and your student loan will show "paid".
70030
No.  They arent even required to send you a 1099 unless they paid you $600 or more.
431560
After 7 years the collections will fall off. Depending on how long it's been, determines if you should pay them back.  If it's already been 5 years, then leave it alone.  As soon as it falls off your credit report, your credit score will go back up again.  If you pay it now and it has been five years, your payment will make it current and then you will have to wait 7 years from your payment for it to fall off.  At any rate, your credit will slowly come back to life, but it does take time.  Responsible payments made and not being too close to or over your credit limit are major factors in determining a good credit score.
264677
If you made more than 400 on a 1099 misc than you need to file. Other than that you do not!! The sale of your car is not income unless you sell cars for a living or on the side. If it was your personal car than no. As far as the money your mom and dad pd you. Did they report that they pd you? If they did and with the money they pd you and the money from the articles you made over 400. Then you have to file. If they didn't than no you don't have to file.
163660
Typically, yes, but you are correct in that it is ultimately up to the creditor if, when and to whom they send the information.  I've even seen numerous circumstances where collections appear on one bureau but not the other two (the same can be said for judgements, delinquencies, etc).
541742
Company "A" sold your debt to company "B". That wasn't really \n"charged off". Charged off accounts means that company that you originated the loan with has simply stopped trying to collect the debt from you. Sounds like your account was sent to collections (or more accurately sold to company "B"). \nSo, don't worry, company "A" got the money they were willing to get.\nAll of it is a junky way for things to refresh on your credit history and really should be fought against by lobbying the government.
535647
Yes.  But, if the loan is not repaid because it was forgiven, the amount forgiven may have to be reported as income to the one getting the loan.  The lender must file an appropriate 1099 with the IRS.
253808
MOstly, no.\nBut there are some exceptions.\nFOr instance,\nA judgement normally falls off in 10 years, but if it is renewed in court, it can go right back on.\nIf you have a charge off and it falls off in 7 years, it could come back on in a few cases such as acknowledging the debt, by trying to be nice and pay something.  Also, they can sell the dept to a collection agency, who can then add that negative trade as well.\n\nThat is why I usually counsel my clients to do a chapter a7-11, and just discharge the debt because the creditors could care less about you.  Trust me, they could care less.\n\nIT is a business and you have to treat your personal credit like a business too, and remember, you are just a number to them.  A NUMBER and nothing else.  They don't care if you live or die.  As long as they think they can eek a dollar out of you, they will.\n\nThis is a complex subject, and impossible to fully address without a complete rundown of your situation.  I suggest you seek the guidance of an attorney who specializes in credit matters, in your area of jurisdiction.
395433
It means the financial institution (lender) has charged-off a loan (its asset) from its financial books.  It has no impact on the legal obligation of the borrower to repay. It is a blemish on the credit report of the borrower that remains for at least seven years. Other potential lenders will view a 'Charge-off' very negatively, and will likely decline a loan request or charge a substantially higher rate of interest and require security/collateral to mitigate the risk associated with making a loan.
231586
Dropping the suit means that they will not have a judgment against you so they cannot garnish your wages. It does not however dismiss the debt and that information will still be reported to your credit report until it is resolved. They can still collect the debt in any other legal way.
41342
Maybe, it depends on what kind of debt it is.  There are a number of different time frames for items to be removed from your credit report.  Inquiries remain on your credit report for 2 years. Delinquencies, collection accounts, charge-off accounts, chapter seven bankruptcy, and paid tax liens remain on your credit report for 7 years. Chapter thirteen bankruptcy remains on your credit report for 10 years. Unpaid tax liens remain on your credit report for 15 years. This information came directly from the credit bureau.  If you feel the information on your credit report is too old to still be reported, you should file a dispute with the credit bureau directly.
690006
It means that they have not kept accurate records, and they are now unable to supply you with the copies of them.  \n\nBy law, if they can't validate the debt they can't post it on your credit report.  And it also implies they don't have a good enough case to take you to court.\n\nIf they don't validate it, put the issue and get it off your credit report!  If they won't remove it, sue them!\n\nI just did it, and won $1200 total from Equifax and a collection agent.  It's easy to do if you know the law and don't let them push you around!
608255
Not sure what you mean.\n\nYou can pay off a loan from a credit union, but it's up to them if they remove the bad credit report.  That's why I tell people to get IN WRITING that they will remove it before you pay them anything.