Consumer complaint received 2024-05-08
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc. (PA)

I have sent several letters requesting for debt verification, debt validation and expressing my concerns about the inaccurate information that has been reported on my credit file to all three credit bureaus ( XXXX, XXXX and Experian ) for years now. I've been sent letters stating that the account has been verified, but unfortunately XXXX XXXX fail to provide any proof of accuracy. The date the account opened is wrong I opened my account with XXXX XXXX in XXXX of XXXX, the payment history is inaccurate it isnt reported correctly in chronological order which makes it inconsistent for each bureau, the date it was last active is inaccurate, the date of the last payment is inaccurate and a account can be reported as a charge-off or collection it can not be both. These inaccuracies shows that the account couldnt have properly been verified and validated. The account is also being reported as a collection and a charge-off. If it was a charge-off I should have received a XXXX form which I never got even when I requested it. I know that the lender must file form XXXX and send you a copy if the amount of cancelled debt is {$600.00} or more and the lender is a financial institution, credit union XXXX federal government XXXX XXXX XXXX other applicable entities as discussed earlier in chapter XXXX. This paragraph above is taken directly from the IRS XXXX publication.According to the XXXX  Law, even if you did not receive a Form XXXX, you must report cancelled debt as gross income on your tax return. The XXXX  defines a Charge-off as gross or ordinary income, by that being said it is fact that income does not get reported on the consumer report. This account being reported on my credit report violates so many of my rights as a consumer according to the FCRA. XXXX XXXX XXXX proves that your credit union is a furnisher of information to a consumer reporting agency. You are prohibited by law to furnish inaccurate information. I demand you to cease and desist the reporting of incorrect/inaccurate information immediately. XXXX U.S.C XXXX ( a ) ( XXXX ) ( a ) 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. XXXX. Congressional findings and statement of purpose [ XXXX XXXX. XXXX ] ( a ) Accuracy and fairness of credit reporting. The XXXX makes the following findings : ( XXXX ) The banking system is dependent upon fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system. XXXX ( XXXX ) An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity, character, and general reputation of consumers. \n ( XXXX ) Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers. ( XXXX ) There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. ( b ) Reasonable procedures. It is the purpose of this title to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this title.