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It should. * Yes, and the debtor will receive a 1099C from the creditor, the amount shown on the form is considered taxable income under IRS rules and must be reported on the debtor's tax return as such.

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โˆ™ 2006-04-03 14:24:51
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Q: Will cancelled credit card debt be reported on a credit report?
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Related questions

How often do credit card balances get reported to your credit report?


If you have a credit card only in your name will it affect or show on your husbands credit report?

No, only the owner and authorized users of the credit card will be reported on the credit card company to the credit agencies. If your husband is an authorized user on the credit card then it will show up on his credit report.

Can a credit card debt that was charged off and sold to a collection agency be reported on your credit report?


What does cancelled by credit grantor mean?

Cancelled by credit grantor means that your credit card account was closed by the creditor. This means that it was cancelled by the person extending you credit, rather than being cancelled by you.

Do I need to report stolen credit cards to all 3 credit bureaus?

You will not need to report your personal credit cards stolen to the credit bureau. Once you have reported your cards stolen to the credit card companies they are with, they will take care of the rest for you.

What if someone takes your credit card?

Report it to the card company as stolen, as soon as possible ! You are liable for all transactions on your card - unless you report it stolen. Once reported, your liability for any further transactions ceases.

Is there any credit card protection in the case of a lost card?

"Yes. Most credit card companies offer services for a lost or stolen card, usually if this happens you need to call in and report the card missing, and you won't be charged for uses after it's reported."

Can I report credit card fraud if I know someone who has someone elses credit card?

Yes I believe you can report credit card fraud if you know someone who has someone elses credit card, if let's say one of your friends or family member got there credit card stolen and you also know the person who stole the credit card you can report a credit card fraud or you can just let your friend or family member report fraud on there credit card, I hope this helps :).

When does the seven years start if there is a credit card debt on your credit report and the card was opened in 1999 but the reported last activity was 2001?

2001. Always go by the later dates of payment, delinquency, etc.

What can you do if you report to a credit card company that your husband took a credit card out in your name and you reported it to them and they did nothing?

If you are married, your husband can definitely apply for a credit card in your name. This is commonly done. Some husbands make their wives as supplement to their credit cards or apply for a separate card. So, the credit card company may not find anything wrong with what your husband did. Not unless, you and your husband are having problems, then if you have a case, better report it first to the proper authority before you approach the credit card company with your complaint or case.

View my chase checking account number on credit report?

Personal checking accounts will not show up on your credit report. If you have a Chase credit card, you will see some information about the card like reported balance, status, and maybe the current APR on your report, but you won't see any information about to the checking account you use to pay the bill...

Can a credit card company report bad credit on an authorized user's credit report after the death of the primary card holder?

if you are an authorized user on the card then you are responsible for the card too. so yes they can

How do you report a TJX credit card lost?

lost my tjx credit card

How long does charged off credit card debt stay on credit report?

An account is no longer reported after a period of 7 years of inactivity in the USA; 6 years in Canada.

Are credit card discounts reported as operating expenses on an income statement?

a credit card discount would be a credit, not an expense.

What is the benefit of a good credit report when applying for a Capital One credit card?

A good credit report means that one who applies for a Capital One credit card can get a better deal. First, with a good credit report one can get an unsecured card instead of a secured card. Depending on how good one's credit report is one can get better features, lower interest, and maybe even a platinum card.

How do you cancel your Credit Card Account?

First of all, you call the credit card company you are with and tell them you want to have your credit card cancelled, it doen't get any easier than that!!

Is it difficult to obtain an international credit card?

Most international students find it difficult to get a credit card in the U.S. because they have not established a credit history and because they are not U.S. residents. For newly arrived students, you may want to try using a "secured credit card". These cards offer some of the conveniences of a credit card, except that you secure your credit card with a deposit that becomes your credit line. The best part is that your secured card is reported as a regular credit card on your credit report. Check with your bank on the secured credit card.

Where can someone get a free credit card report?

One can get a free credit card report by going to your local bank and requesting one. A dedicated agent will help you prepare your finances for the credit report.

If a credit card company says you owe them money but it is not on your credit report do you have to pay?

If it isn't on your credit report, the credit card company still has hopes of you paying it off. When they see that isn't going to happen, you can bet your butt that it WILL be on your credit report.

Does the balance on a credit card show on your credit report if you are an authorized user on that card?

In a word, yes.

If you haven't paid your credit-card debts in 7 years can you apply for a new card?

When you apply for a credit card a credit report will be ran and those credit cards you haven't been paying will be on that report. So I say no.

Where does the information contained in a credit report come from?

The information comes from your credit history: credit card and loan records, medical bills that have not been paid, student loan records, housing records, etc. that is reported to credit recort companies.

Can a company charge your credit card without permission?

No, a company can not charge a credit card without permission. This violation should be reported immediately to your credit card company.

Can a minor hurt their credit score with an overdue library fee?

No. A library fine is not reported to credit agencies. Late payments on a credit card or mortgage are reported to credit agencies.