Jimmie used his credit cards to charge up $23,000 in debt. His uncle, William, encouraged Jimmie...
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Jimmie used his credit cards to charge up $23,000 in debt. His uncle, William, encouraged Jimmie not to pay the debt since the US Government would eventually wipe away all debts for all Americans. Jimmie was finally sent a Form 1099-C from his credit card company which stated they discharged the debt. Jimmie contacts you regarding this 1099-C. What will you tell Jimmie? Jimmie used his credit cards to charge up $23,000 in debt. His uncle, William, encouraged Jimmie not to pay the debt since the US Government would eventually wipe away all debts for all Americans. Jimmie was finally sent a Form 1099-C from his credit card company which stated they discharged the debt. Jimmie contacts you regarding this 1099-C. What will you tell Jimmie?
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I would advise Jimmie to seek professional legal advice reg... View the full answer
Related Book For
Advanced Financial Accounting
ISBN: 978-0137030385
6th edition
Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay
Posted Date:
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