Wfs Financial Class Act California/ portfolio Recovery wfs original lender. voluntarily gave car back 1999. said i still owe on car. sent to debt collectors.2007 get 1099c i don't believe i owe. over 7 yrs .later . can they do that? Norfolk Virginia

in 1996 i bought a 1993 ford taurus at worthington chevrolet in sacramento. my mom co-signed. it was purchased thru wfs financial. i gave the car back in 1999 with almost 16000 dollars still owed on the car (i had bad credit and i had 4 granddaughters and a daughter living with me and i was desperate for a car that would buckle up all of us) i gave the car back knowing i could never pay it off. i was later arrested in 1999 on drug charges and anger problems. wfs gave the debt to bill collectors and i told them to quit harrassing us. now i am 7 yrs clean and i have a good job,portfolio recovery associates, file a 1099c. i don't believe they can do this at this stage of the game. isn't 7 yrs the limit? i thought wfs should have been charged with exploitation when i bought the car. they knew i could never pay it back. I had already filed my 2007 taxes when i got this 1099c. i talked to all kinds of cpa's and they had never even heard of this happening before. the cpa's told me not to worry about it and now i'm scared irs is goint to come after me. this is crazy.

Terry
santa rosa, California
U.S.A.