Product: Credit card

Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX Washington, XXXX XXXX Dear Sir/Madam, Subject : Dispute Regarding Charged-Off Accounts, Failure by Capital One to Issue 1099 Form, Fraudulent Reporting, and Misinformation Leading to Account Delinquency I am writing to file a formal dispute with the Consumer Financial Protection Bureau ( CFPB ) regarding multiple issues with Capital One, including the failure to submit 1099-C forms for charged-off accounts, improper reporting of account status, and the provision of misleading information about minimum payments due. These actions have caused significant financial harm, distress, and confusion. 
Account Information : Creditor : Capital One Date Charged-Off : XX/XX/XXXX Balance : XXXX Creditor : Capital One Date Charged-Off : XX/XX/XXXX Balance : XXXX Summary of the Issues : 1. Failure to Issue a 1099-C Forms : According to IRS guidelines XXXX any creditor who charges off a debt over {$600.00} is required to issue a 1099-C form for the forgiven debt. This form is essential for tax purposes, as it reports canceled debt income to the taxpayer. Capital One has failed to submit the required 1099 forms for the charged-off accounts, which is a clear violation of IRS rules and regulations as outlined in the Internal Revenue Code ( IRC ) Section 6050P. 
2. Fraudulent Reporting of Account Status : Capital One has reported the account to the credit bureaus with misleading or inaccurate information. The account status is being reported as " charged off '' without the necessary documentation being submitted to consumer. Under Section 623 of the Fair Credit Reporting Act ( FCRA ), creditors are required to report accurate information to credit bureaus. Failure to comply with this requirement is a violation of the law and constitutes fraudulent reporting. 
3. Misinformation Regarding Minimum Payments : Capital One provided incorrect information regarding the minimum payments due on two accounts on XX/XX/XXXX. As a result, I was led to believe that smaller payments would be sufficient to keep the accounts in good standing. This misinformation caused both accounts to become delinquent and eventually led to their closure. This failure in communication demonstrates negligence and has significantly damaged my credit standing. 
4. Financial Impact : The lack of a 1099 forms has caused confusion regarding my tax obligations for XXXX the year debt was charged-off. Without these forms, I am unable to properly report my income, potentially resulting in penalties and interest. Additionally, the inaccurate reporting of the charged-off accounts and misinformation about minimum payments have harmed my credit score and hindered my ability to secure future credit opportunities. 
Requested Resolution : I respectfully request that the CFPB investigate this matter and take appropriate actions to hold Capital One accountable for : Issuing the required 1099-C forms for the charged-off debt. 
Remove these accounts from the record of all credit reporting agencies, ensuring compliance with the FCRA. 
Reviewing internal practices to address and rectify their provision of inaccurate information regarding minimum payments. 
Providing compensation or assistance for the financial harm resulting from these issues, including potential tax penalties and damaged credit. 
I have attached copies of all relevant documentation to support my claims, including : Correspondence with Capital One regarding the charged-off account and payment misinformation. 
Credit reports showing the inaccurate reporting of the accounts. 
Any records of attempts to resolve these issues directly with Capital One. 
Thank you for your attention to this matter. I look forward to a prompt resolution and appreciate the CFPB 's assistance in addressing these issues. 
Sincerely,