Consumer complaint received 2023-09-07
Company: ACIMA CREDIT, LLC
State: FL
Product: Payday loan, title loan, personal loan, or advance loan
Sub-product: Pawn loan
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
ACIMA DIGITAL is furnishing incorrect and inaccurate to the consumer reporting agencies. 

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

This inaccurate reporting has 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.

As defined by the IRS 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 did not receive a form 1099-C, they 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.

By definition, The IRS clearly states a charge off is income. The reporting of this account as a debt is inaccurate.

15 USC 1681 S-2 states that, Acima, are a furnisher of information to a reporting agency.

They are PROHIBITED BY LAW to furnish inaccurate information.

15 U.S. Code 1681s2 ( a ) ( 1 ) ( A ) - Responsibilities of furnishers of information to consumer reporting agencies 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.

The lender must file Form 1099-C and send me a copy if the amount of debt cancelled is {$600.00} or more and the lender is a financial institution, credit union , federal government agency or other applicable agency as stated in chapter 1.

The above paragraph is taken directly from The IRS 2021 publication.

They have not sent me a 1099-C that they should have sent when they filed the account as a cancelled debt.

15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies ( 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 Law 15 USC 1681 s-2 of your responsibilities as a furnisher of information. 

You have caused myself and my family harm due to your negligence and inaccurate reporting.

Company response to consumer: Closed with explanation