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Glossy847
Level 4
March 1, 2023

Client made monthly payments to a debt relief company for 36 months

  • March 1, 2023
  • 1 reply
  • 4 views

However he received a 1099C from the bank which indicated the debt relief company did not pay them much of what the client sent in and now they cannot contact that company - website is gone, cannot login to their portal. Any recourse for them?  I suggested contacting Consumer Financial Protection Bureau.  Any other suggestions?

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    1 reply

    BobKamman
    BobKamman
    Level 15
    March 1, 2023

    The bank must have accepted the amount they received and agreed to write off the rest.  Try using the insolvency exception on Form 982.  

      G
      Glossy847Author
      Level 4
      March 1, 2023

      Thank you for your suggestion.  I will see if that helps them

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