When doing a settlement with a credit card company will I get a 1099 for the remining balance?

When doing a settlement with a credit card company will I get a 1099 for the remining balance?

The Answer : I researched this a little bit. If the creditor decides to write off your debt, he can report it on his taxes as a "bad debt". They are also required to fill out a 1099C. Normally a copy goes to bot the IRS and the consumer.

But many times the collector "neglects" to send you a copy.Now what? You file your taxes, the government sends you a bill for the unpaid tax and/or any penalties.Worse...it could trigger an audit.Do the credit card companies send in 1099's regularly? Don't know, still searching for data on it.