Got a letter from the Credit union second year saying they are coming to get the saloon. They never did. 13 months later (today) I emailed them and they said they sent a 1099C to the IRS and are relieving all hard work to recover the car.
My press is, not that I have to pay the IRS for that, am i entitled to catch the title of the vehicle? My point is they told me they don't want it, are not coming to get it, and now I hold this vehicle I can't do anything with. I do have it registerd and insurance and will drive it, but if I required to sell it, I don't have the title to do that near.
Answers: The 1099c form ( http://expresstaxforms.com/5139-2003-pag... ) merely means the credit union give up on trying to collect the balance from you. But they will are the legal owner of the vehicle, and you can't sell it without the title. They will not release the title to you until and unless you salary them.
My press is, not that I have to pay the IRS for that, am i entitled to catch the title of the vehicle? My point is they told me they don't want it, are not coming to get it, and now I hold this vehicle I can't do anything with. I do have it registerd and insurance and will drive it, but if I required to sell it, I don't have the title to do that near.
I call for give support to beside...
Answers: The 1099c form ( http://expresstaxforms.com/5139-2003-pag... ) merely means the credit union give up on trying to collect the balance from you. But they will are the legal owner of the vehicle, and you can't sell it without the title. They will not release the title to you until and unless you salary them.
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