I just started a chapter 13 bankruptcy (5 months ago) and am paying back at 100%. Will I still be receiving a 1099-C in years ahead during the bankruptcy?
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There's no way to tell when or if you will receive them. Most creditors, the original creditors, will have sold your account to junk debt buyers (JDBs) who specifically like to file claims in Chapter 13s. I've only ever received 2 of them but discharged over 30 accounts.
More importantly, an IRS Form 1099-A/C won't affect someone that filed a bankruptcy. There's a form that you would complete (I don't remember the form number off the top of my head) should you receive one. The first thing on that form is a checkbox for a debt discharged in Title 11. As you may not know, Title 11 is section of the United States Code for bankruptcy! (Maybe it's form 982?)
So you just have your accountant or a tax preparer file that form with your taxes and voila!Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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