Consumer complaint received 2023-10-24
Company: Sierra Credit Corp
State: CA
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
From XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 
XXXX XXXX, CA XXXX ATTENTION : FRAUD DEPARTMENT ; I have recently discovered in my credit file a Creditor reporting in my consumer file an account that is fraud. This will be Sierra Credit Corporation account numbers # XXXX and XXXX. Now Sierra is using two variations of the account number and I will provide proof with documents for your review, but it is one account that I am addressing here. I want to make this matter clear that this is Not an Identity theft complaint. This is a case of reporting in my credit report of inaccurate information in my account. On XX/XX/2023 I sent Sierra Credit Corporation a letter tracking number XXXX informing them about the error of the reporting. On XX/XX/2023 I received a response from Sierra Credit Corporation advising me that they have conducted an investigation and they won't comply with my request and wont take any action. Pursuant to 15 U.S. Code 1681a - Definitions ; rules construction ( e ) The term investigative consumer report means a consumer report or portion thereof in which information on a consumers character, general reputation, personal characteristics, or mode of living is obtained through personal interviews with neighbors, friends, or associates of the consumer reported on or with others with whom he is acquainted or who may have knowledge concerning any such items of information. However, such information shall not include specific factual information on a consumers credit record obtained directly from a creditor of the consumer or from a consumer reporting agency when such information was obtained directly from a creditor of the consumer or from the consumer. 

I believe that they did not make a lawful investigation according to the law above. I also believe that all Sierra Credit Corporation did is match my name and SSN and account number and called it correctly. That information was not in question here in my complaint with Sierra Credit Corporation.

According to 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. 

Sierra Credit Corporation has this account classified as a charge off. According to the IRS when a Creditor charges off an account they must file a 1099-C cancellation of debt. After the creditor charges the account off it becomes Income to both parties the consumer and the creditor. According to XXXX income does NOT get reported. 
Furthermore pursuant to 15 U.S. Code 1681a ( 2 ) ( A ) ( i ) - Definitions ; rules of construction. And it states the following ; ( 2 ) Exclusions.Except as provided in paragraph ( 3 ), the term consumer report does not include ( A ) subject to section 1681s3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ; The key here is to highlight the TRANSACTIONS OR EXPERIENCES. What are these? Virtually everything like late payments, charge offs, and more. So a charge off is being reported as inaccurate information Pursuant to 15 U.S. Code 1681e ( b ) - Compliance procedures. ( b ) Accuracy of report They must delete the furnishing of this account pursuant to : The FCRA 15 U.S. Code 1681e - ( b ) Compliance procedures ( b ) Accuracy of report Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates.

I will provide all the supporting documents to support my complaint against Sierra Credit Corporation.

Company response to consumer: Closed with explanation