Never heard of it. Two credit card companies (Total $32,000) possible
charge off have informed me I will get these forms.

Do I have to pay taxes on it? I just draw Social Security. I don't have
any money and IRS already has lien on house for yr. 2000.

"Sweet Lady" <SodaChick2@webtv.net> wrote in message
news:24357-40CCA90D-233@storefull-3338.bay.webtv.net... Never heard of it. Two credit card companies (Total $32,000) possible charge off have informed me I will get these forms. Do I have to pay taxes on it? I just draw Social Security. I don't have any money and IRS already has lien on house for yr. 2000.

It's only proper for credit card companies to send 1099s when they forgive
debt. Forgiven debt is only income to the extent that you are not
insolvent. Talk to your accountant for more information about reporting
forgiven debt as income.