If you have more than $600 of debt forgiven, your lender should send you a 1099-C Cancellation of Debt form. This form is a tax document that the lender is required to file. It will help you determine ...

Question: After losing my business and a temporary job, I fell behind making payments on my credit card debt. I am planning to file for bankruptcy protection to get out from under by overwhelming pile ...

・Starting January 1, 2026, forgiven federal or private student-loan balances may once again be considered taxable income. ・If forgiveness occurs in 2026 or later, you’ll likely receive Form 1099-C ...

Question: I successfully filed for personal bankruptcy protection in 2025 under Chapter 7 to get out from under an overwhelming amount of credit card debt and back taxes created during the COVID years ...