Consumer complaint received 2022-10-20
Company: HYUNDAI CAPITAL AMERICA
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
HYUNDAI CAPITAL AMERICA XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX NOTICE TO AGENT IS NOTICE TO PRINCIPAL NOTICE TO PRINCIPAL IS NOTICE TO AGENT DEAR HYUNDAI CAPITAL AMERICA AND HYUNDAI MOTOR FINANCE COMPANY, ACCOUNT # XXXX 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, my reputation, my general mode of living and my ability to obtain credit for personal and housing purposes. 

You and your inaccurate reporting have damaged my livelihood. 

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. 

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 a 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.

15 USC 1681s-says YOU HYUNDAI MOTOR FINANCE 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 immediately. 

15 USC 1681s -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 a reasonable cause to believe that the information is inaccurate. 

You are hereby put on NOTICE that you are furnishing incorrect inaccurate information. 

The letter must file form 1099-c and send a copy if the amount of canceled debt is {$600.00} or more and the lender is a financial institution, credit union XXXX federal government agency, or other applicable entity as discussed earlier. 

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

Send me my form 1099-C that you should have sent when you filed the account as a canceled debt. 

My address is listed in this letter. 

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 ( 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, 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 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. 

YOU HAVE 10 CALENDAR DAYS TO DELETE THIS ACCOUNT FROM MY CONSUMER REPORTS! 

Very truly yours, XXXX XXXX XXXX, XXXX

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