Central District Consumer Bankruptcy Attorney's Association

I usually ask for something in writing from the creditor confirming that
the account will be settled. I don't always get it however.
On Jan 28, 2014 9:39 AM, wrote:
>
>
> I have been assisting a few clients who are not good BK candidates with
> resolution of cc debt outside of BK. I assume many of you do the same.
>
>
>
> Yesterday I recieved a bunch of letters from CHASE along with 1099's for
> 2013 for some of these clients that say "We will no longer attempt to
> collect the unpaid debt on your account...." and, essentially, "here is
> your client's 2013 1099".
>
>
>
> My clients are well warned about the 1099 issue for debt resolutions. The
> question I have is whether I can tell my clients that the letter and the
> issuance of the 1099 is a FINAL resolution of the account? That is, can
> CHASE later sell/transfer this debt to a collector? It seems no, that if
> they choose the tax benefit of the write off they cannot still sell the
> account and get a benefit later, and the letter says what it says. But I
> don't trust CHASE one bit not to sell these accounts next year to an
> entrepenurial collectioon agency.
>
>
>
> Anyone have input? Thanks.
>
>
>
> -Jeffrey B. Smith**
>
> CURD, GALINDO & SMITH, L.L.P.
>
> 301 East Ocean Blvd. #1700
>
> Long Beach, CA 90802
>
> (562) 624-1177
>
> (562) 624-1178 fax
>
> (310) 993-6560 cellular
>
> www.expertbk.com
>
> **Certified By The State Bar
>
> Of California As A Specialist
>
> In Bankruptcy Law
>
>
I usually ask for something in writing from the creditor confirming that the account will be settled. I don't always get it however.
On Jan 28, 2014 9:39 AM, <jsmith@cgsattys.com> wrote:

I have been assisting a few clients who are not good BK candidates with resolution of cc debt outside of BK. I assume many of you do the same. Yesterday I recieved a bunch of letters from CHASE along with 1099's for 2013 for some of these clients that say "We will no longer attempt to collect the unpaid debt on your account...." and, essentially, "here is your client's 2013 1099".
My clients are well warned about the 1099 issue for debt resolutions. The question I have is whether I can tell my clients that the letter and the issuance of the 1099 is a FINAL resolution of the account? That is, can CHASE later sell/transfer this debt to a collector? It seems no, that if they choose the tax benefit of the write off they cannot still sell the account and get a benefit later, and the letter says what it says. But I don't trust CHASE one bit not to sell these accounts next year to an entrepenurial collectioon agency.
Anyone have input? Thanks. -Jeffrey B. Smith**CURD, GALINDO & SMITH, L.L.P.301 East Ocean Blvd. #1700
Long Beach, CA 90802(562) 624-1177
(562) 624-1178 fax(310) 993-6560 cellular
www.expertbk.com**Certified By The State BarOf California As A Specialist
In Bankruptcy Law

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