Consumer complaint received 2023-09-19
Company: FAIR COLLECTIONS & OUTSOURCING, INC.
State: FL
Product: Debt collection
Sub-product: I do not know
Issue: Written notification about debt
Sub-issue: Didn't receive notice of right to dispute

Complaint:
To : XXXX FAIR COLLECTIONS AND OUTSOURCING XXXX XXXX XXXX XXXX XXXX XXXXXXXX, MD XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX, SC XXXX NOTICE TO AGENT IS NOTICE TO PRINCIPAL, NOTICE TO PRINCIPAL IS NOTICE TO AGENT. 

XXXX XXXX XXXX, you are furnishing inaccurate and incorrect information to the consumer reporting agencies. The reporting of such inaccurate information has caused severe damage to my character, reputation, general way of life, and my ability to obtain credit for personal and housing purposes. 

You and your inaccurate reporting have damaged my livelihood.

15 U.S. Code 1681s-2 - Responsibilities of furnishers of information to consumer reporting agencies ( a ) DUTY OF FURNISHERS OF INFORMATION TO PROVIDE ACCURATE INFORMATION PROHIBITION ( A ) Reporting information with actual knowledge of errors A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. 
Duty : A moral or legal obligation ; a responsibility Accurate : Correct in all details ; exact. 
PROHIBITION : A law or regulation forbidding something As defined by the IRS : Even if you didn't receive a Form 1099-C, you must report canceled debt as gross income on your tax return.

The IRS clearly defines a charge-off as Gross or Ordinary income. INCOME DOES NOT GET REPORTED ON THE CONSUMER REPORT, which makes your reporting of this account inaccurate!

By definition, the IRS clearly states that a Canceled or Charged-off debt is Income. Reporting this account as a debt is inaccurate. 

15 USC 1681s-2 states that you, XXXX company , are a furnisher of information to a consumer reporting agency. 

YOU ARE PROHIBITED BY LAW from furnishing inaccurate information. I demand you Cease and Desist the reporting of incorrect/inaccurate information immediately.

15 USC 1681s-2 ( a ) ( 1 ) ( A ) : A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. You are hereby put on NOTICE that you are furnishing incorrect, inaccurate information.
The lender must file Form 1099-C and send you a copy if the amount of debt canceled is {$600.00} or more and the lender is a financial institution, credit union , federal government agency, or other applicable entity as discussed earlier in

chapter 1. The above paragraph is taken directly from the IRS publication. SEND MY FORM 1099-C that you should have sent when you FILED the account as a canceled debt. My Address is listed below! 15 U.S. Code 1681s-2 ( a ) DUTY OF FURNISHERS OF INFORMATION TO PROVIDE ACCURATE INFORMATION PROHIBITION ( B ) Reporting information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency if the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate, and the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate ; and ( ii ) the information is, in fact, inaccurate. In conclusion, I have shown you, and you have been put on notice that you are reporting inaccurate information. The information is, in fact, inaccurate. The continued reporting of this inaccurate information is a clear violation of the Law, 15 USC 1681s-2, of your responsibilities as a furnisher of information. You have caused me and my family severe harm due to your negligence and inaccurate reporting. This is a final opportunity to Cure and DELETE This Erroneous, inaccurate account from my Consumer report. YOU HAVE 10 Calendar days to DELETE THIS ACCOUNT FROM MY CONSUMER REPORTS!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation