Product: Credit reporting or other personal consumer reports

Re : Formal Complaint Incorrect Reporting of Repossession and Request for Removal and Compensation Dear Sir/Madam, I am writing to formally file a complaint regarding the inaccurate reporting of a debt on my credit file by Santander Consumer USA , specifically related to a repossession that occurred on the account identified below. Despite my numerous attempts to resolve this issue, your company has failed to correct the inaccuracies, thereby violating the Fair Credit Reporting Act ( FCRA ), and I am requesting immediate action as well as compensation for the harm caused to my financial standing. 

Account Information : Account Holder Name : XXXX XXXX Account Number : UNKNOWN - SSN : XXXX Vehicle Make and Model : XXXX XXXX ( XXXX ) Factual Discrepancies : Santander Consumer USA is incorrectly reporting that {$45000.00} of the debt was " written off '' as a result of the repossession. However, this is a misrepresentation of the actual events. The vehicle was sold via auction during the repossession process, and the sale proceeds should have been credited toward the outstanding balance, which would have reduced the amount reported as owed. The term written off refers to the cancellation of the debt, typically when a creditor has determined that the debt is uncollectible and it is removed from their balance sheet. However, this term does not apply to a repossession in which the asset is sold, and the proceeds from the sale are applied to the balance owed. 

The ORIGINAL amount owed shows {$38000.00} yet the company also reports {$45000.00} " Written off '' which is MORE than the amount owed. Plus still reports a {$5000.00} balance. 

Therefore, the {$45000.00} figure reported as " written off '' is incorrect, as the actual debt owed should reflect the sale price of the vehicle, minus any fees associated with the repossession. Furthermore, the failure to report the sale of the vehicle, along with the proper application of the sale proceeds to the balance, directly violates the FCRA 's requirement that creditors report accurate and complete information to the credit bureaus. 

FCRA Violations : Under the Fair Credit Reporting Act ( FCRA ), creditors and furnishers of information are required to report accurate, complete, and up-to-date information. By continuing to report this debt incorrectly after multiple dispute attempts ( 8 attempts to date ), Santander Consumer USA has violated the FCRA, specifically the following sections : FCRA Section 1681s-2 ( a ) Duty to Report Accurately : The reporting of inaccurate information, such as the {$45000.00} written off balance instead of the proper auction sale amount, is a direct violation of this section. 

FCRA Section 1681i Procedures in Case of Disputed Information : After my multiple disputes regarding the inaccuracies, you have failed to correct the information on my credit report. This failure to investigate and correct the data is a violation of this section, which requires the reporting agency to correct or delete any information that can not be verified as accurate.

FCRA Section 1681o Civil Liability for Willful Noncompliance : Santander 's continued reporting of inaccurate information despite my dispute efforts is a willful violation, and I am entitled to compensation for the harm this has caused me, including the inability to obtain credit due to a distorted credit report. 

Impact on My Creditworthiness : The inaccurate reporting of this debt is severely damaging my credit standing. The reporting of an inflated balance of {$45000.00} has significantly harmed my ability to borrow and obtain credit, as it misrepresents my actual debt obligations. Potential lenders, including banks and financial institutions, rely on accurate credit information when making lending decisions. By reporting incorrect data, you are obstructing my ability to access credit at favorable terms, which has ongoing negative financial consequences. 

Request for Immediate Action : As a result of these violations, I am requesting the following : Immediate removal of the inaccurate repossession entry from all three credit bureaus ( XXXX, XXXX, and XXXX ). 

Correct and accurate reporting of the debt, reflecting the actual sale proceeds from the auction and the true amount owed after the vehicle was sold. 

Compensation in the amount of {$1000.00} as provided for under the FCRA, for the continued harm caused by your failure to correct these inaccuracies despite multiple dispute attempts. 

Documentation and Previous Disputes : For your reference, I have attached copies of the responses to my previous disputes, which illustrate your ongoing failure to correct the status of this account. The fact that these disputes were not handled properly under FCRA guidelines reinforces the need for immediate action. 

Please consider this letter a formal demand for resolution. Should you fail to take corrective action within 15 business days, I will be forced to escalate this matter by filing complaints with the Federal Trade Commission ( FTC ), and my state Attorney Generals office. Furthermore, I will also pursue legal action, including seeking additional compensation for damages related to this matter. 

Thank you for your prompt attention to this issue. I look forward to your immediate response.