Consumer complaint received 2022-11-21
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
Capital One XXXX XXXX XXXX XXXX XXXX XXXX, UT XXXX Re : Account XXXX NOTICE TO AGENT IS NOTICE TO PRINCIPAL NOTICE TO PRINCIPAL IS NOTICE TO AGENT To whom it may concern : 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, my general good mode of living my ability to obtain credit for personal and house purposes. You and your inaccurate reporting have 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 ( XXXX ) 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. 

Definitions : 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 or charge off as gross income on your tax return. 
The IRS clearly defines a charge off as gross income or ordinary income, INCOME DOES NOT GET REPORTED ON THE CONSUMER REPORT, which in fact makes your reporting of this account inaccurate!

The lender must file a form 1099-C and send you 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 entity as discussed earlier in chapter 1.

The above paragraph is taken directly from the US IRS 20 21 publication. SEND ME MY FORM 1099-C THAT YOU SHOULD HAVE SENT WHEN YOU FILED THE ACCOUNT AS A CANCELLED DEBT. 
By definition, the IRS says a cancelled debt or charge off is INCOME. The reporting of this account as a debt is in fact inaccurate.

15 U.S. Code 1681s2 states that you are a furnisher of information to a consumer reporting agency.

You are prohibited by law to furnish inaccurate information. I demand you cease and desist the reporting of this incorrect and inaccurate information immediately pursuant to 15 U.S.C 1681s2 ( a ) ( 1 ) ( A ), which states 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 REPORTING INCORRECT AND INACCURATE INFORMATION. 15 U.S.C 1681s2 ( a ) ( 1 ) ( B ). 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 information is in clear violation of the law pursuant to 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 period this is a final opportunity to CURE and DELETE this erroneous, inaccurate, account from my consumer report.

You have 10 calendar days to CEASE AND DESIST AND DELETE THIS ACCOUNT FROM MY CONSUMER REPORTS. 

XXXX XXXX Last 4 of SSN XXXX XXXX ( XXXX ) Account XXXX

Company response to consumer: Closed with explanation