Consumer complaint received 2023-10-27
Company: NAVY FEDERAL CREDIT UNION
State: NJ
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
Request the following information from Navy Federal Navy Federal Credit Union is furnishing inaccurate and incorrect information to the consumer reporting agencies. 

The reporting of such inaccurate information has caused severe damage to my character, my reputation, my general mode of living and my ability to obtain credit for personal and house purposes. 

Navy Federal reporting inaccurate information and its damaged my livelihood.

15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies ( a ) Duty of furnishers of information to provide accurate information ( 1 ) 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 didnt receive a form 1099-C, you must report cancel debt as gross income on your return. 

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

By Definition the IRS Clearly says a Cancelled or Charge is income. The reporting of this account as a debt is inaccurate.

15 USC 1681 s-2 Says your company are a furnisher of information to a consumer reporting agency. 

You ARE PROHIBITED BY LAW to furnish inaccurate information. I demand you to Cease and Desist the reporting of incorrect/ inaccurate information. 

15 USC 1681 s-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 agency, or other applicable entity as discussed earlier in chapter 1.

The above paragraph is taken directly from IRS 2021 publication.

SEND ME MY FORM 1099-C that should have sent when you have filled the account as a canceled debt.

My address is listed below 15 U.S. Code 1681s2 ( a ) Duty of furnishers of information to provide accurate information ( 1 ) 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 ( i ) 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 1681 s-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.

Navy Federal had 10 Calendar days to DELETE THIS ACCOUNT FROM MY CONSUMER REPORTS! 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation