- Report: #318312
Report - Rebuttal - Arbitrate
Complaint Review: Midland Funding LLC
Midland Funding LLC8875 Aero Dr Suite 200 San Diego, California U.S.A.
Midland Funding LLC 1099C protected by government loophole San Diego California
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I then receive a 1099C cancellation of debt that Midland Funding reports to the IRS that they suffered a loss at over $15k which in turn is now considered my taxable income!
The attorney office that represented Midland Funding informed me that this "issue" should have been resolved in the settlement, but because I represented myself, I of course was not aware there would be any further issues, nor did the Honorable Dan Wilson impart any justice to me in this matter. I am confident too that as a judge, he is full aware of the workings of all that pertains to these type of suits.
After calling Midland Funding and being asked if my call was about the 1099C, it struck me that this is common practice that allows these corporations to report "suffered loss" as well not reporting any "gain" through government loopholes!
So don't settle without an agreement that there be be no 1099C cancellation of debt reported to the IRS!
This report was posted on Ripoff Report on 03/16/2008 05:16 AM and is a permanent record located here: http://www.ripoffreport.com/r/Midland-Funding-LLC/San-Diego-California-92123/Midland-Funding-LLC-1099C-protected-by-government-loophole-San-Diego-California-318312. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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