Consumer complaint received 2022-05-16
Company: EQUIFAX, INC.
State: IA
Product: Debt collection
Sub-product: Credit card debt
Issue: Attempts to collect debt not owed
Sub-issue: Debt is not yours

Complaint:
NOTICE TO AGENT IS NOTICE TO PRINCIPAL NOTICE TO PRINICIPAL IS NOTICE TO AGENT Equifax you are furnishing inaccurate and incorrect information to the consumer reporting agencies. 

XXXX - XXXX 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. 

You and your inaccurate reporting have damaged my livelihood As defined by the IRS Even if you didnt 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 in fact makes your reporting of this account inaccurate! 

By Definition The IRS clearly says a cancelled or charge off is income. The reporting of this account as a debt is inaccurate. 

Section 166 ( a ) ( 1 ) of the Internal Revenue Code allows a deduction for a debt that becomes worthless during the taxable year. In addition, 166 ( a ) ( 2 ) permits a deduction for partially worthless debts if the taxpayer charges off an appropriate amount on the taxpayer 's books and records and the Internal Revenue Service is satisfied that the debt is recoverable only in part. 

XXXX - XXXX is being reported as a charge off, therefore according to the IRS it is considered income, so why is it still on my credit report? 

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 ( 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 15 USC 1681 s-2 says you Equifax 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 immediately. 

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. 

If you continue to report this account this is considered willful noncompliance. 


15 USC 1681 s-2 ( 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 the 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 XXXX XXXX  XXXX 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 a final opportunity to cure and delete this erroneous inaccurate account from my consumer report.

Company response to consumer: Closed with explanation