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@rolandh I’d just call them- and have them verify the debt is legit. I never received a single collections letter and then received this 16 years later. If you got a 1099-C that means it has been reported to the e IRS already and you are obligated to claim the amount as income and pay taxes on...

@najah7791 https://topclassactions.com/lawsuit-settlements/lawsuit-news/ally-financial-hit-vehicle-repo-debt-forgiveness-class-action/

@najah7791 I finally got through- they said it was for an old GMC/GMAC auto loan.

@ddfne2or97 It was financed through GMAC (General Motors).

@quake I finally got ahold of someone and they said it’s from back in 2008 when I let a car get repossessed. Weird thing is I never got a single letter since then and nothing ever showed up on my credit. I had no idea I owed anything. Frustrating.

@lily_lost My CPA said they the IRS is sent the 1099-C info at the same time the 1099-C is sent to you. So they have notice of it. Did you happen to finance a vehicle in the last 20 years through GMAC?

@eli1 Was your original loan through GMAC? GMAC bank was rebranded in 2009 as Ally Bank.

I received a 1099-C (Cancellation of Debt) from Ally Financial for almost 10k. I have tried reaching out to them several times and can’t get ahold of anyone. It’s an automated system and no matter what time of day I call after I enter my SS# it says there offices are closed. I am not sure what...