My partner and I were owners of a time share (based on a point system). We have been working with a company to help us get out of our time share. The time share company has said we are no longer under contract with them. They sent us a letter in Oct stating they had terminated our time share contract. My recent Equifax Credit Report shows a status of "Paid as agreed; time share account is closed or Paid account/Zero balance. Today I received a Form 1009-A from this time share company showing a balance of over $8000 and box 5 is checked saying I was liable for repayment of debt. I'm confused as to why they sent this form to me since the reported to Equifax that my account with them is closed. I also want to know will this $8000 be seen as income?
Thanks for any help with these questions!