Contact your creditor and see what kind of paymant deal you can make. Some will take a lesser payoff if you can manage to make it in one payment.
Be sad and that's about it. Your question doesn't say whether not you knew about the debt, so I assume you knew it and agreed with it. If so, there is not much to say except the refund will decrease if not payoff the entire amount.
Of course. Tax troubles are handled on a case-by-case basis. Let your lender know immediately in order that he can discuss the payoff of your back taxes or lien subordinationwith the Internal Revenue Service.
Debit Accumulated Depreciation Credit Fixed Asset If there the asset has a net book value, then you will have to Debit or Credit Gain or Loss on Sale of Asset for the difference. Also, you may have received money if the asset was sold or there may be a loan to payoff. Those transactions will need to be included in your entry as well.
Call first of course, but send them by certified mail, a copy of your payoff info and request they correct their records and acknowlege doing so by sending an Amended 1099C, (it may actually have a form number like 1099C-AMD). They aren't going to like doing so, because making amended filings for them is always a time consuming and expensive process, but they would have to. If they respond with any reasons they believe the 1099C you received is required, you can deal with that. If they don't respond or send the amended, the documentation you have should become part of your tax records and would appear to be sufficent to show your acting properly in not reporting the income.
As of Feb 6, 2013, 1-800-669-5833
Bank of America Mortgage Payoff Phone Number: 1.800.763.1255
yes, located at 7105 Corporate Drive Plano TX 75024
1-800-215-6195 is the correct number for B of A auto loan payoff.
BANK OF AMERICA NA Pay Off Department 4161 PIEDMONT PKWY GREENSBORO, NC 27410-8110
There are several sites online where one can find a debt payoff calculator such as Bank Rate, Credit Karma, and bank of America. There are also some books on how to calculate debt payoff such as Live Debt Free and The Total Money Makeover.
What my pay off on my expordtoin
Your lender should have a "Payoff" or "Reconveyance" department that can process your pay off and the removal of the lien from title.
payoff phase
Good freaking luck. I've got a principle balance of 3.47 left on my loan and I've been trying to pay it off for 2 months now. Their website won't let me make a payoff payment. Their customer support staff are giving me incorrect information. Their payoff department has rejected my payment check.
For Texas: Bank of America Payoff Dept Mail Code TX2-981-03-13 7105 Corporate Drive Plano, TX 75024-4100 Note: official check only and include loan # and property address BofA contact: 1.800.669.6607
You can find an excellent mortgage payoff calculator at Bankrate's website. Their mortgage payoff calculator lets you add the number of years reaming in your mortgage along with letting you add the mortgage amount as well as the annual interest rate. These are just some of the features that are offered in there mortgage payoff calculator.