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Old 07-21-2015, 04:30 PM
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Cancellation of Debt - Fraudulent Account

I have a cancellation on an adjusted tax from a credit card that was based on fraud. I tried in the past (back in 2008) to tell the Credit Card company that this was a fraudulent account. The credit card company kept sending me just statements, no signature card or anything.

When I tried to dispute that with the IRS, the letter I get says I should contact the credit card company for a correction. I have about 2 weeks based on the time I get the letter from the IRS, which is too short.

Any ideas on what I should do?

Thanks,

Jules



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Old 07-22-2015, 07:14 AM
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When I tried to dispute that with the IRS, the letter I get says I should contact the credit card company for a correction. I have about 2 weeks based on the time I get the letter from the IRS, which is too short.=========>>I believe that as they said, you need to contact the credit card company for a correction. You need to clear credit of fraudulent card account. The Federal Trade Commission recommends filing a complaint with them, then printing a copy of the report and using that to file a police report with your local law enforcement.The FTC calls that an identity theft affidavit, and says it can be a helpful document to use when you’re dealing with the companies where the fraudulent accounts were opened, as well as the credit reporting agencies. Then you may contact the financial companies where a thief has opened fraudulent accounts in your name. Speak to the fraud department, and inform them that you are a victim of identity theft. Follow up the phone call with a letter, sent certified mail with a return receipt. Keep a copy of the letter and the receipt for your files. You may be required to submit more than the identity theft affidavit; the lender will tell you what information you need to supply for this process. You need to send a dispute letter to each of the credit reporting agencies informing them of the fraudulent accounts opened in your name. Request that the fraudulent accounts be removed from your credit file


UNLESS Debts were discharged in bankruptcy; Debts canceled when you were insolvent, forgiven debt is taxable reported as other income on 1040 line 21.



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