Consumer complaint received 2021-07-28
Company: Experian Information Solutions Inc.
State: TX
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:
I have attached the following documentation to reflect the following information below, please see attachments.

1099-C one PDF to include 1099-C three accounts cancellation of debt notice for the following account : 1. XXXX Store Card Account Number Ending in XXXX  2. XXXX Credit Card Account Number Ending in XXXX  3. XXXX XXXX XXXX Personal Credit Account Number Ending in XXXX These accounts were charged off as of XX/XX/XXXX XX/XX/XXXX TAX RETURNS Schedule 1 FORM 1040 Line 8 to reflect the total amount PAID IN FULL for the accounts in question 8 Other income. Canceled Debt Income {$4800.00}.

A copy of my Experian Credit report showing inaccurate reporting XXXX XXXX is reporting to the Credit Bureaus inaccurate information that I still owe the debt in full!!

I have attached documentation that SHOWS XXXX XXXX abandon under a 1099-C the total amount of {$4800.00}. XXXX XXXX canceled the debt and issued a cancellation of DEBT ABANDON A DEBT under IRS Publication 4681 (XX/XX/XXXX ), Canceled Debts.

As you clearly stated in your statement XX/XX/XXXX after XX/XX/XXXX, on your XXXX Store Card account. Therefore, due to non-payment, the remaining balance of {$800.00} was subsequently charged off as a loss on XX/XX/XXXX.

Clearly, as you can see on the attachment from Experian that you are reporting inaccurate information by updating my credit report to reflect a charge of from XX/XX/XXXX to recently thus reporting inaccurate status past due as of XX/XX/XXXX.

As you clearly stated in your statement on XX/XX/XXXX, We did not receive a payment after XX/XX/XXXX, on your XXXX XXXX XXXX Mastercard account. On XX/XX/XXXX, due to non-payment, your account was charged off as a loss in the amount of {$2900.00} Clearly, as you can see on the attachment from Experian that you are reporting inaccurate information by updating my credit report to reflect a charge of from XX/XX/XXXX to recently thus reporting inaccurate status past due as of XX/XX/XXXX.

As you clearly stated in your statement on XX/XX/XXXX, We did not receive a payment after XX/XX/XXXX, on your XXXX Credit Card account. Therefore, due to non-payment, the remaining balance on the account of {$2700.00} was subsequently charged off as a loss on XX/XX/XXXX.

The XXXX Store Card Account Number Ending in XXXX  was charged off as a loss on XX/XX/XXXX, NOT IN XX/XX/XXXX XX/XX/XXXX XXXX Credit Card Account Number Ending in XXXX  XXXX XXXX XXXX Personal Credit Account Number Ending in XXXX  On XX/XX/XXXX, NOT IN XX/XX/XXXX XX/XX/XXXX XXXX XXXX XXXX XXXX Personal Credit Account Number Ending in XXXX  was charged off as a loss on XX/XX/XXXX. NOT IN XX/XX/XXXX XX/XX/XXXX I reported these accounts under a 1099-C on my XX/XX/XXXX Tax Returns as Paid in Full. Under the Fair Credit Reporting Act, I have the right to removed inaccurate reporting which you have clearly done so. YOU ARE PARROTING THE INFORMATION being reported, even after multiple disputes!!!

I have included a copy of my XX/XX/XXXX TAX RETURNS to reflect the full amount for all three accounts that the total amount of the charge off has been PAID IN FULL via TAX RETURNS.

The 1099-C Clearly state You received this form because a federal government agency or an applicable financial entity ( a creditor ) has discharged ( canceled or forgiven ) a debt you owed, or because an identifiable event has occurred that either is or is deemed to be a discharge of a debt of {$600.00} or more. If a creditor has discharged a debt you owed, you are required to include the discharged amount in your income, even if it is less than {$600.00}, on the Other income line of your Form 1040 or 1040-SR. XXXX XXXX HAS CLEARLY DISCHARGED all three accounts BRING THE BALANCE TO {$0.00} DOLLARS OWED.

YOUR COMPANY EVEN REFERENCES THIS ON YOUR STATEMENT XX/XX/XXXX XXXX XXXX is no longer pursuing collection activity on your accounts. If XXXX XXXX discharges ( cancels or forgives, in whole or in part ) a debt you owe, you may receive a Form 1099-C, Cancellation of Debt. Amounts discharged may need to be included in your income, and subject to certain exceptions reported to the IRS. Please contact your tax adviser concerning the particular U.S. Federal Income tax consequences to you. On XX/XX/XXXX, XXXX XXXX issued a Form 1099-C on each of the above referenced accounts.

XXXX XXXX STATEMENT dated XX/XX/XXXX stated As required by the statute of limitations, XXXX XXXX is no longer pursuing collection activity on your accounts. The statute of limitations does not change our obligation to accurately report account history.

XXXX XXXX last reported your XXXX Store Card account on XX/XX/XXXX, your XXXX Credit Card Account on XX/XX/XXXX, and your XXXX XXXX XXXX Personal Credit account on XX/XX/XXXX. As the accounts have been accurately reported, your request to alter the account reporting is respectfully declined.

A debt is deemed canceled on the date an identifiable event occurs or, if earlier, the date of the actual discharge, which the actual date of the discharge for the accounts mentioned above was in XX/XX/XXXX NOT IN XX/XX/XXXX XX/XX/XXXX.

The code reflected on the FROM 1099-C clearly states Code G Decision or policy to discontinue collection. Code G is used to identify the cancellation of debt as a result of a decision or a defined policy of the creditor to discontinue collection activity and cancel the debt. For purposes of this identifiable event, a defined policy includes both a written policy and the creditor 's established business practice.

IRS PUBLICATION https : //www.irs.gov/pub/irs-pdf/i1099ac.pdf, ALSO STATES Section 7. A discharge of indebtedness because of a decision or a defined policy of the creditor to discontinue collection activity and cancel the debt. A creditor 's defined policy can be in writing or established business practice of the creditor. A creditor 's established practice to stop collection activity and abandon a debt when a particular nonpayment period expires is a defined policy. Enter G in box 6 to report this identifiable event.

MEANING THE ACCOUNT WAS CANCELLED IN FULL {$0.00} XXXX DOLLARS!!!

IRS INSTRUCTION WHEN FILING A DEBT STATES : 1. A discharge of indebtedness because of a decision or a defined policy of the creditor to discontinue collection activity and cancel the debt. A creditor 's defined policy can be in writing or established business practice of the creditor.

2. A creditor 's established practice to stop collection activity and abandon a debt when a particular nonpayment period expires is a defined policy. Enter " G '' in box 6 to report this identifiable event.

3. XXXX XXXX canceled the debt, stopped collection activity, and ABANDON A DEBT!!

BRINGING MY TOTAL BALANCE TO {$0.00} XXXX DOLLARS!!!

I have disputed this account on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, and for the fourth time you will be getting a LAWSUIT from me, for reporting and damaging my credit report 180 points and for inaccurate reporting on your part!! I have to give you plenty of time to remove the negative information and the inaccurate information from my credit report. Since I did not file a Reduction of Tax Attributes Due to Discharge of Indebtedness under Section 1082 Basis Adjustment Form 982, This DEBT IS CONSIDERED PAID IN FULL Under this statute!!

I will be suing you ( XXXX XXXX ) and the Credit Bureaus for damaging my credit report, your statement dated XX/XX/XXXX states : 1. Based on your inquiry, we have reviewed your account record and verified we have accurately reported your account history information to the major credit bureaus. Since we have reported accurate information pertaining to your account, we are unable to delete or modify the status as reported. Therefore, your request for XXXX XXXX to delete these trade lines from your personal credit history has been respectfully declined, and 2. XXXX XXXX is no longer pursuing collection activity on your accounts. If XXXX XXXX discharges ( cancels or forgives, in whole or in part ) a debt you owe, you may receive a Form 1099-C, Cancellation of Debt. Amounts discharged may need to be included in your income, and subject to certain exceptions reported to the IRS. Please contact your tax adviser concerning the particular U.S. Federal Income tax consequences to you. On XX/XX/XXXX, XXXX XXXX issued a Form 1099-C on each of the above-referenced accounts.

Yet my credit report shows inaccurate reporting on your behalf has recently charged off!!

In conclusion, all these accounts were charged off in XX/XX/XXXX and not recently on XX/XX/XXXX as you have reported on my credit report. I want these accounts to be removed from all four major credit bureaus, Experian, XXXX, XXXX, and XXXX XXXX credit reports IMMEDIATELY.

I have reached out to you several times XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, via email as well and have left several messages via phone. I can be reached at 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