Consumer complaint received 2023-04-06
Company: Experian Information Solutions Inc.
State: NY
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Experian has be causing me extreme physical and emotional distress due to their inaccurate reporting. I am a hard working XXXX XXXX XXXX who is also currently a caregiver to my grandfather with XXXX XXXX XXXX XXXX XXXX. I have tried many times to no avail to get this company to do the right thing but they have consistently violated my consumer rights and federally protected right to privacy. Their negligence has forced me to have my ill grandfather cosign XXXX  loans for me and pay excessively higher interest rates- among many other financial burdens. At issue are the following accounts : Account Number : XXXX Source : XXXXXXXX XXXX  Explanation : This account was written off in accordance with Internal Revenue Code ( IRC ), 26 CFR 1.166-2, and therefore is now considered ordinary income. Income is not a reportable credit transaction. Does my annual salary get reported by Experian? Also, XXXX is lying by asserting that a balance of {$3500.00} is past due as XX/XX/2022 when they filed a 1099C classify that balance as income and reported it to the IRS. Attached is the documentation confirming their lies and deceit. 

Account Number : XXXX Source : XXXX XXXX  Explanation : As previously stated, this account was reported as written off and thus in accordance with the XXXX, this debt no longer exists and has become ordinary income. Income is not a reportable item on a consumer credit report. This is also a violation of my privacy in accordance with 15 U.S.C. 6801. 

Account Number : XXXX Source : XXXX XXXX XXXX XXXX : As stated above, the creditor asserts this was written off and thus in accordance with the XXXX, this item is no longer debt but ordinary income. Also, I only have one account with XXXX XXXX XXXX They are falsely reporting two accounts. The only account I have was closed and paid on time, never late. Also, notice that this second account was only posted this past XXXX and the only payment history shown is a charge off. This is clearly fraudulent! 


In further of my explanations above, lets go through the laws Congress enacted to protect consumers against abusive practices by consumer reporting agencies, like the one you work for.

Under federal law, these above creditors ( furnishers ) are prohibited from furnishing incorrect/inaccurate information to you. See 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.

Duty : a moral or legal obligation, a responsibility.

Prohibition : a law or regulation forbidding something.

Accurate : correct in all details, exact.

To the question of a charged- off ( written-off debt ). The IRS makes clear that even if a consumer does not receive a form 1099-C, the canceled debt must be reported as gross income on a tax return. The IRS clearly defines a charge-off as Gross or Ordinary income. INCOME DOES NOT GET REPORTED ON THE CONSUMER REPORT! 

The IRS clearly states that canceled debt/charge-offs are income. Therefore, the reporting of this account as a debt is inaccurate. You hereby put on NOTICE that you are furnishing incorrect/inaccurate information. 

So by continuing to report income as debt you are violated my consumer rights and my federally protected right to privacy. 

Experian has caused severe harm to my family and me due to persistent negligence and inaccurate reporting. As a student with a limited means and having to care for two grandparents with XXXX, my inability to obtain credit has made my life incredibly difficult. To the point of severe XXXX XXXX  and consistent visits to the hospital. I am asking that you do the right and lawful things as the reader and correct the statuses of the above accounts.

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