Turbo tax asked me whether my debt was unsecured or secured. My 1099C does not state either. What do I do?

posted

If the debt was secured then the company that held the loan would have likely repossessed the property. A secured loan would be something like a mortgage or a car loan where the lender holds the title until you pay off the loan and then repossesses the property if you do not pay the loan.

An unsecured loan is like a signature loan, medical bill or credit card bill.

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