Credit Card Glossary: Terms and Definitions
The 1099-C is an IRS form sent when credit card or other consumer debts are forgiven or canceled by creditors or debt collectors. Forgiven debt totaling more than $600 of the original debt is considered income by the IRS and potentially subject to taxes on federal income tax returns.
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.