Typically a Form 1099-C will be issued once for a single debt, when a certain "identifiable event" has occured.
According to Specific Instructions for Form 1099-C in the Instructions for Forms 1099-A and 1099-C , a creditor will:
File Form 1099-C, Cancellation of Debt, for each debtor for whom you canceled a debt owed to you of $600 or more if:
- You are an entity described under Who Must File, later; and
- An identifiable event has occurred. It does not matter whether the actual cancellation is on or before the date of the identifiable event.
Eight different identifiable events are described in When Is a Debt Canceled, in the instructions linked above.
You should contact the creditor who canceled the debt to see what's going on with your son's cancellation.