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Is there an established limit to how long after a debt has gone delinquent that a company can file a 1099C?

We had a vehicle voluntarily repossessed in Nov 2007. They filed a 1099C in 2016. I don't understand why they are able to submit this debt this much later. Is there a clear precedent for this? An established length of time in which this can be filed?

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Is there an established limit to how long after a debt has gone delinquent that a company can file a 1099C?

If a 1099-C is issued in 2016, it has to be reported in that year. Please see the answer provided by another TurboTax agent:

https://ttlc.intuit.com/replies/6500320

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