Author Topic: Settlement on HELOC, when is 1099 issued?  (Read 765 times)

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debtsurvivr

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Settlement on HELOC, when is 1099 issued?
« on: February 14, 2018 04:45:44 PM »
I'm negotiating a settlement on a HELOC that will have me make payments for a few years.  Is the 1099 issued the year the settlement agreement is reached or the year all the payments have been made?

Flyingifr

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Re: Settlement on HELOC, when is 1099 issued?
« Reply #1 on: February 14, 2018 04:58:30 PM »
I would say after the final payment is made. At that point the deal is finished and final. Before that, a default in payments could void the deal and bring back the claim for the full amount.
BTW-the Flyingifr Method does work. (quoted from Hannah on Infinite Credit, September 19, 2006)

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