Consumer complaint received 2022-10-27
Company: Experian Information Solutions Inc.
State: IL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
This is in regards to XXXXXXXX XXXX account # XXXXThis account is inaccurate and is illegally placed on my consumer report. Now I agree with XXXX that I had a credit card with them. That is not what the issue is. The issue is that the account has been charged off. Now the legal definition of Charge off under 7 CFR 1782.3 states that it is the write off of a debt and termination of servicing activity without release of liability. A charge-off is a decision by the Agency to remove debt from Agency receivables , however, future payments may be received. This is the law and not something that was googled but something that is inside the FCRA XXXX revised edition. This is the most updated information for consumer rights. If this is true which the law states that it is, then that would mean that the balance would be {$0.00} and it would show closed/charged off. That is what without release of liability means. If for some reason that is not good enough and the 3 credit agencies are still wanting to keep illegally placed information on my consumer report I also have actual factual proof that this information is inaccurate. On XXXX report it shows that the last payment was made XX/XX/XXXX that would mean that it would show as payment made in XXXX XXXX instead it shows 90 days late and payment made on XXXX. Even if the payment did not process until XX/XX/XXXX, it shows different on XXXX. XXXX shows payment made in XXXX and 30 days late in XXXX. Also XXXX and XXXX shows 120 days late in XXXX and XXXX of XXXX. That is inaccurate information. I can't be 120 days late back to back legally. Experian shows XXXX XXXX 120 days and XXXX  150 days late. With this being said it is a violation. According to 15 U.S.C. 1681s-2 ( A ) ( 1 ) 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. ( 4 ) There is a need to ensure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. Once XXXX XXXX posted 120 days back to back it was the credit agencies responsibility to make sure that information was accurate. When I first disputed it came back verified which is not what I asked for. I asked for validation as well as the information to be removed if it is inaccurate. Instead the credit agency decided to just verify my address and tell me that it was verified as accurate. Clearly it was not accurate. Also XX/XX/XXXX XXXX shows PRL ( PROFIT LOSS/WRITE OFF ) -Profit and Loss and any items of income, gain, expense or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining XXXX Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1 ( b ) ( 2 ) ( iv ), except that Profit and Loss shall not include items of income, gain, loss and expense that are specially allocated pursuant to this Article 6 ( other than Section 6.1A or Section 6.1B ). This means that XXXX already wrote this off on their taxes as income but yet still shows that I have personal liablilty. That is illegal and against the law especially if they filed with the IRS already a schedule c 1099 form.It also shows on XXXX that the account was closed by the consumer XX/XX/XXXX. Fast forward XX/XX/XXXX it shows XXXX again as if they wrote this debt as profit and loss again on their taxes, taxable income and then it shows closed by consumer again XX/XX/XXXX which is innacurate and a lie. I have not called XXXX and I have not spoken to them since this account became charged off. There is no proof that I somehow again asked them to close an already closed and charged off account. They are violating my rights as a consumer and insulting my intelligence by leaving these items on my credit report with all the proof that I have which will be attached. If this is not taken care of I have no choice but to file a suit in my near future. This is damaging to my credit score and my character. Proof is proof and I have more than enough proof for this inaccurate item to be deleted off y credit report. Pleas do your due diligence and make sure that the 3 credit agencies are doing their part to make sure that every consumer report is accurate. Not just mine every person that has a consumer report. It is again thier grave responsibility under the law.

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