Consumer complaint received 2023-10-20
Company: Experian Information Solutions Inc.
State: FL
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
I am writing to express my profound frustration and complete dismay upon discovering that the following company or companies have reported charge-offs on my consumer report : XXXX XXXX XXXX XXXX Account # XXXX ] XXXX XXXX XXXX XXXX Account # XXXX ] XXXX XXXX XXXX XXXX Account # XXXX ] First Tech XXXX XXXX XXXX XXXX Account # XXXX ] XXXX XXXX - XXXX Bank XXXX Account # XXXX ] As per IRS regulations XXXX when a creditor charges off a debt, it signifies that the creditor has relinquished attempts to collect the debt and has categorized it as a tax loss. In accordance with this process, the creditor is obligated to submit a XXXX form to the IRS, detailing the canceled debt as income. This situation implies that I may be liable for taxes on the charged-off amount, despite not having received any funds from the creditor. 

Allow me to be unequivocal : the presence of these charge-offs on my consumer report constitutes a clear violation of my consumer rights, opens the door for discrimination and is completely unacceptable. I demand the immediate exclusion of the aforementioned accounts without any further delay. 

I wish to remind you that the consumer laws mentioned below are not mere suggestions but legally binding regulations that you are obligated to adhere to : 1. 15 USC 1681a 2 - Exclusions ( a ) ( i ) : This subsection of the Fair Credit Reporting Act explicitly states that " Any report containing information solely as to transactions and experiences between the consumer and the person making the report. '' 2. 15 USC 6802 : This section of the United States Code outlines the obligations of financial institutions regarding the disclosure of personal information. It delineates the " Opt Out '' requirements for financial institutions when disclosing nonpublic personal information to nonaffiliated third parties. Financial institutions are mandated to clearly and conspicuously inform the consumer, in writing or electronically, that their personal information may be disclosed to third parties. The consumer must be given the opportunity to opt out of such disclosures and must receive an explanation of how to exercise this option.

3. 15 USC 1681b ( a ) ( 2 ) : This section of the United States Code specifies the permissible purposes for which a consumer reporting agency may furnish a consumer report. In general, a consumer reporting agency may furnish a consumer report only under certain circumstances, primarily when the consumer provides written authorization. I have not, and will not, grant any creditor the right to include negative, inaccurate, and injurious information in my consumer report.

It is abundantly clear that the presence of charge-offs on my consumer report directly violates the aforementioned laws. Consequently, I am entitled to receive compensation for this deliberate noncompliance, as outlined in 15 US Code 1681n. 

I do not anticipate receiving verification of the item in question, as it is evident that it is in violation of the law.

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