Consumer complaint received 2024-10-24
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: SANTANDER HOLDINGS USA, INC. (VA)

Dear Santander Consumer USA, I am writing to formally dispute certain entries on my account related to the XXXX XXXX XXXX, XXXX XXXX XXXX. It has come to my attention that there are discrepancies pertaining to late payment notations, derogatory account status, current payment status, remarks regarding paid profit and loss, indications of purchase by another lender, and classifications of worst payment status. These inaccuracies are causing significant harm, including personal damages such as emotional distress, loss of access to credit, and adverse effects on my ability to secure financing for personal, family, or household purposes. I trust that you will fulfill your fiduciary responsibilities by thoroughly reviewing these matters to ensure the accuracy and integrity of the reported information. 

Payment History : I contest the accuracy of the late payment history and worst payment remarks recorded on the consumer report and it is my position that these entries must be amended to reflect as Current and Paid as Agreed. 

Current Payment Status : I instruct an update regarding my current payment status removing the Payment After Charge-off/Collection remark.

Derogatory Account Status : I instruct the removal of any negative derogatory remarks. Such inaccuracies could adversely affect my creditworthiness and financial standing. 

I hereby instruct the issuance of a Form 1099-C for this account per IRS publication 4681, as it has been reported as a charge-off. A charge-off is classified as cancellation of debt and is considered taxable income under IRS regulations . The lender must file Form 1099-C and send you a copy if the amount of debt canceled is {$600.00} or more Furthermore, it is unlawful to report such income on a consumer credit report. 

I appreciate your immediate attention, with a response no longer than 14 days, to this matter and expect a prompt response that addresses the aforementioned disputes. 

Thank you for your cooperation. 

Sincerely, XXXX XXXX 15 U.S. Code 1666b - Timing of payments A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose.

Per the FCRA, as a Federally protected Consumer, I have the right to privacy.

Per Privacy Act of 1974 / 5 U.S. Code 552 - Public information ; agency rules, opinions, orders, records, and proceedings. 

P.L. 90321, Approved May 29, 1968 ( 82 Stat. 146 ) Consumer Credit Protection Act TITLE VICONSUMER CREDIT REPORTING Sec. 601. [ 15 U.S.C. 1601 note ] This title may be cited as the Fair Credit Reporting Act.

* * * * * * * Sec. 603. [ 15 U.S.C. 1681a ] * * * * * * * ( f ) The term consumer reporting agency means any person which, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third parties, and which uses any means or facility of interstate commerce for the purpose of preparing or furnishing consumer reports. 

* * * * * * * Sec. 604. [ 15 U.S.C. 1681b ] ( a ) In general.Subject to subsection ( c ) of this section, any consumer reporting agency may furnish a consumer report under the following circumstances and no other : ( 4 ) In response to a request by the head of a State or local child support enforcement agency ( or a State or local government official authorized by the head of such an agency ), if the person making the request certifies to the consumer reporting agency that ( D ) the consumer report will be kept confidential, will be used solely for a purpose described in subparagraph ( A ), and will not be used in connection with any other civil, administrative, or criminal proceeding, or for any other purpose.