Consumer complaint received 2024-05-26
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Experian Information Solutions Inc. (CA)

Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX, IA XXXX Re : Dispute of Inaccurate Credit Reporting by XXXX XXXX Dear Sir/Madam, I am writing to formally dispute the inaccurate reporting of charge-off accounts by XXXX XXXX on my credit reports. Below are the details of the accounts in question : XXXX XXXX Accounts : Account Number : XXXX Balance : {$1900.00} Date Opened : XX/XX/XXXX Payment Status : Collection/Chargeoff Last Reported : XX/XX/XXXX Date Last Active : XX/XX/XXXX Date of Last Payment : XX/XX/XXXX Account Number : XXXX Balance : {$1600.00} Date Opened : XX/XX/XXXX Payment Status : Collection/Chargeoff Last Reported : XX/XX/XXXX Date Last Active : XX/XX/XXXX Date of Last Payment : XX/XX/XXXX I am disputing these accounts based on the following points : No Contract with Collections Company : I have no contractual relationship with the collections companies reporting these debts. According to the Fair Credit Reporting Act ( FCRA ) and 15 U.S. Code 1692e, debt collectors must report accurate information and must not use false, deceptive, or misleading representations. The absence of a direct contract with these collections companies invalidates the reporting of these debts on my credit report. 

Unpaid Charge-Offs as Income : According to the Internal Revenue Service XXXX IRS ) XXXX an unpaid charge-off is considered income. The FCRA stipulates that income can not be reported on a credit report. Therefore, these charge-offs should not be reported as they misrepresent the nature of the debt. 

Continuous Reporting of Charge-Off : These accounts have been reported as charge-offs every month for an extended period, which is misleading and not an accurate reflection of the debt 's status. Under the FCRA, information reported on my credit report must be accurate and not misleading. The repeated reporting of these charge-offs is not compliant with this requirement. 

Sale of Debt : The debts associated with these accounts have been sold to other companies. The original creditors should have updated the account status to indicate this change. Reporting the debts as active charge-offs after they have been sold is inaccurate and misleading. 

Issuance of Form 1099-C : I have requested Form 1099-C from the original creditors, which should have been issued to indicate the cancellation of the debts. The absence of these forms suggests that the debts should no longer be reported as active. 

I have previously disputed this matter with the credit bureaus ( XXXX, Experian, and XXXX ) and the original creditors, but the issue remains unresolved. Therefore, I am seeking the assistance of the CFPB to investigate this matter and ensure that my credit reports are corrected to reflect accurate information. 

Please find attached copies of relevant documentation, including my communications with the original creditors and the credit bureaus. 

I request that the CFPB intervenes to have these inaccurate charge-offs removed from my credit reports promptly. 

Thank you for your attention to this matter. 

Sincerely,