Product: Credit reporting or other personal consumer reports

Complainant Name : XXXX XXXX Creditor Name : XXXX Account Number : [ Account Ending # XXXX / # XXXX ] Dispute Date : XX/XX/year> Complaint Description : I am filing this complaint against XXXX for serious violations of federal laws, including the Fair Credit Reporting Act ( FCRA ), Fair Debt Collection Practices Act ( FDCPA ), and IRS regulations regarding 1099-C Cancellation of Debt reporting. 

XXXX. Failure to Validate Debt : XXXX sold my account to a third-party debt buyer after charging off the account. I sent a formal debt validation request, but XXXX failed to provide any legally required validation documents proving that they have the right to collect the debt. Despite this, they continue to report inaccurate information on my credit reports. 

XXXX. Improper Credit Reporting Practices : XXXX has been reporting late payments on a closed and charged-off account, which is both misleading and damaging to my credit profile. According to my TransUnion and XXXX credit reports, XXXX continues to list delinquent payments after the account was paid/closed and charged off. This is a clear violation of the FCRA, which mandates accurate and complete reporting by creditors. 

XXXX. Failure to Issue IRS Form 1099-C ( Cancellation of Debt ) : XXXX has failed to issue a Form 1099-C, which is required by the Internal Revenue Service ( IRS ) for any charged-off debt over {$600.00}. This raises concerns about potential tax fraud and double-dipping by XXXX. I will be filing IRS Form 3949-A to report this potential violation. 

XXXX. Pursuit of Arbitration : Due to these continued violations, I am pursuing arbitration against XXXX to seek {$10000.00} in damages for the following : Failure to validate the debt. 
Improper and misleading credit reporting practices. 
Failure to comply with IRS regulations. 

Expanded Complaint Section : Ownership of Debt and Securitization Citibanks XXXX filings indicate that it regularly securitizes consumer debt, selling off accounts to investors and trust funds. This raises serious doubts as to whether XXXX still legally owns the debt it is reporting on my credit report. 

Securitization means that XXXX may no longer have any ownership or collection rights on this account, yet they continue to report the debt on my credit report as if they do. This practice is misleading and deceptive under the Fair Credit Reporting Act ( FCRA ). 

Additionally, if the debt has been securitized, XXXX can not legally report the account as a charge-off, because the debt would no longer be considered a receivable on XXXX balance sheet. 

I demand that XXXX prove they still own this debt by providing the original note and payment history, as well as any assignment or sale agreements showing that they retained ownership. If they can not provide this proof, they are in violation of FCRA, and the account must be removed from my credit report immediately. 

IRS Form 3949-A Argument : Failure to Issue a 1099-C Cancellation of Debt Form Additionally, XXXX charged off the account for over {$4000.00}, yet they have not issued a 1099-C Cancellation of Debt Form as required by IRS regulations. This indicates that XXXX may have : 1. Double-dipped by securitizing the debt and still attempting to collect on it, which is fraudulent. 
XXXX. Failed to properly notify the IRS of a forgiven or cancelled debt, resulting in potential tax fraud. 

I will be filing an IRS Form 3949-A to report these violations, as Citibanks failure to issue a 1099-C is a serious tax compliance issue.