Consumer complaint received 2023-02-25
Company: EQUIFAX, 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:
In response to my previous complaint filed on XX/XX/2023 # XXXX. This complaint is to inform the CFPB that the consumer reporting agency is reporting inaccurate information on my credit file. Included in the previous complaint number XXXX submitted XXXX is a receipt of purchase from XXXX. Which is a valid document. The parent company of XXXX XXXX the purchased the account. ( Partial amount number XXXX ) And had to be removed from my credit file due to the lack of validation. The account was sold to this company by XXXX XXXX XXXX XXXX Which is still reporting on my credit file. A bank can not sell an account to a collection agency and continue to report it on a consumers credit report. That makes the information inaccurate. Information on a consumers credit report must be one hundred percent accurate. Otherwise it must be permanently removed. XXXX XXXX XXXX XXXX  is attempting to collect money that is not owned to them. This is considered malicious and fraudulent. 
The stated purpose of the Fair Credit Reporting Act ( FCRA ) 15 U.S.C. Section 1681, et seq., is to require consumer reporting agencies ( CRAs ) to adopt reasonable procedures to meet the needs for consumer credit, personnel, insurance, and other information in a manner that is fair and equitable to the consumer with respect to the " confidentiality, accuracy, relevancy, and proper utilization '' of such information. The FCRA protects both the privacy of consumer information and sets restrictions not only on CRAs, but also on furnishers and users of reported information to ensure such information is as accurate as possible.The FCRA thus requires furnishers to report accurate and complete information to CRAs. More specifically, furnishers are prohibited from reporting information relating to a consumer that is known to be inaccurate, or that the furnisher has reasonable cause to believe is inaccurate. Nonetheless, furnishers who clearly and conspicuously provide an address for consumers to give notice of inaccuracies are exempt from this prohibition, unless the consumer has provided notice that information is inaccurate. And while the FCRA does not obligate furnishers to provide an address for the consumer to notify it of inaccuracies in reported data, furnishers who do so can not be held liable for inaccuracies in reported information if the consumer fails to notify the furnisher of the inaccuracies. Furnishers who regularly report information to CRAs about transactions with consumers also have an affirmative duty to notify the agencies of information the furnisher later determines is incomplete or inaccurate.The duty of accuracy also extends to circumstances where a consumer disputes information. The FCRA expressly prohibits reporting disputed information unless the furnisher also reports that the information is disputed. Therefore, furnishers should promptly notify CRAs when a consumer disputes the completeness or accuracy of reported information. The willful failure to do so may subject a furnisher to any actual damages sustained by the consumer, or damages between {$100.00} and {$1000.00}, punitive damages as allowed by the court, reasonable attorneys fees, and court costs.

Company response to consumer: Closed with explanation