Consumer complaint received 2024-07-26
Product: Debt collection — Credit card debt
Issue: Written notification about debt — Didn't receive notice of right to dispute
Company: PORTFOLIO RECOVERY ASSOCIATES INC (MI)

XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX XXXX XX/XX/year> PORTFOLIO RECOV ASSOC XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX To Whom It May Concern/Letter to Receiver, I am writing to formally request the immediate deletion of the above-referenced account from my credit report. This request is made based on the following grounds : Violation of the Fair Credit Reporting Act ( FCRA ) and the Consumer Financial Protection Bureau ( CFPB ) Regulations 1. Lack of Validation : Under 12 CFR 1006.34 ( b ) ( 5 ), the collection agency has failed to provide the necessary validation information for this account. Despite this, a collection has been placed on my consumer report without proper validation.

2. Right to Dispute : I have not been given the opportunity to dispute this account as required by 12 CFR 1006.34 ( c ) ( 4 ). This is a clear violation of my consumer rights, as I have not received the appropriate notice or opportunity to challenge the validity of this debt. 

3. Misrepresentation and Deceptive Practices : The collection agency is in violation of my consumer rights by using false, misleading, and deceptive means in its collection practices. Such actions are in direct contravention of federal regulations designed to protect consumers. 

4. Furnishing Information to Consumer Reporting Agencies : The collection agency has no authority to furnish any account information to consumer reporting agencies without providing all required disclosures as stipulated by law. This is a violation of 12 CFR 1006.34 ( d ) and 15 USC 1681s-2 ( a ) ( 7 ).

IRS Grounds for Deletion Based on 1099-C The account in question is listed as " Charge Off. '' According to IRS guidelines, a creditor that issues a 1099-C form is declaring that the debt has been canceled and reported as income. Consequently, the debt can not be simultaneously reported as both income and an outstanding debt. This contradictory reporting is impermissible, as the account status of " Charge Off '' indicates that the debt has been written off and should no longer be reported as owed. Additionally : - A debt buyer can not claim a debt is owed without a valid contract with the consumer and without the consumer 's knowledge of said claim or fee or fees stated.

- The IRS 1099-C form indicates the cancellation of debt, which negates any further claims of the debt being owed. 

Given these substantial legal grounds, I demand the immediate removal of this account from my credit report. Failure to comply with this request may result in further legal action, including filing complaints with the Consumer Financial Protection Bureau ( CFPB ), the Federal Trade Commission ( FTC ), and pursuing remedies under the Fair Credit Reporting Act ( FCRA ). 

Please confirm in writing that this account has been deleted from my credit report within 30 days of receipt of this letter. Your prompt attention to this matter is appreciated. 

Sincerely, XXXX XXXX This letter addresses the specific violations of the FCRA and CFPB regulations, as well as the IRS grounds related to the 1099-C form.