Consumer complaint received 2023-06-12
Company: TRANSWORLD SYSTEMS INC
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
Firstly, according to 15 USC 1681 section 602 ( a ) of the FCRA, it is crucial for consumer reporting agencies to exercise their responsibilities with fairness, impartiality, and respect for consumer privacy. As XXXX, XXXX, and XXXX are consumer reporting agencies, and I am a consumer, I am deeply concerned about the impact on my privacy rights and the negative consequences resulting from the reporting of this account. 

Furthermore, 15 USC 6801 establishes the policy that financial institutions have an affirmative and continuing obligation to respect the privacy of their customers and safeguard the security and confidentiality of their nonpublic personal information. The entity furnishing information to credit agencies, being a financial institution under this definition, is bound by this policy. Therefore, it is imperative that the reporting of this account, which jeopardizes the privacy and security of my personal information, be rectified immediately. 

Moreover, 15 USC 1681 section 604 ( a ) ( 2 ) restricts consumer reporting agencies from furnishing consumer reports without the explicit written instructions of the relevant consumer. It is crucial to note that neither XXXX, XXXX, XXXX nor the aforementioned entities, have obtained my written consent to furnish my personal information. Consequently, the reporting of this account is in direct violation of this provision. 

Additionally, according to 15 USC 6802 ( b ) ( c ), financial institutions are prohibited from disclosing nonpublic personal information to nonaffiliated third parties unless the consumer has been informed about their right to exercise the option of nondisclosure. Unfortunately, I was not properly informed of this right by the entity furnishing information to credit agencies. This failure to comply with the FCRA regulations further compounds the negative impact on my quality of life. 

Furthermore, 15 USC 1681C ( a ) ( 5 ) clearly states that consumer reporting agencies are prohibited from including any adverse information, except for records of convictions of crimes that antedate the report by more than seven years. However, the reporting of this account as an adverse item without my permission is a direct violation of this provision, exacerbating the harm caused by its inclusion on my credit report. 

In addition, 15 U.S. Code 1681s2 ( A ) ( 1 ) A explicitly prohibits the furnishing of inaccurate consumer information to any consumer reporting agency. It is essential to rectify this situation promptly to ensure compliance with the FCRA and mitigate the negative consequences that have resulted from the reporting of this account. 

Furthermore, 15 U.S. Code 1681e mandates that consumer reporting agencies maintain reasonable procedures to avoid violations of the FCRA, and limit the furnishing of consumer reports to the purposes listed under section 1681b. Regrettably, it appears that XXXX, XXXX and XXXX have not upheld these obligations, as reasonable procedures have not been maintained, leading to the adverse impact on my quality of life. 

Given the aforementioned violations of the FCRA and the considerable negative impact this account has had on my life, I urgently request that you take immediate action to remove this account from my credit report. Doing so will help alleviate the burdens I have been facing and restore a sense of stability to my financial well-being. 

I kindly request a written response acknowledging the receipt of this letter and providing a detailed plan of action to rectify the situation. Your prompt attention to this matter is greatly appreciated. 

Thank you for your understanding and cooperation. 

Sincerely,

Company response to consumer: Closed with explanation