Consumer complaint received 2024-03-29
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc. (FL)

Consumer Financial Protection Bureau Attn : Consumer Response Team XXXX XXXX XXXX XXXX Washington, DC XXXX Dear Sir/Madam, I am writing to request your assistance in addressing several inaccuracies and potential violations of consumer protection laws in my credit reports, as well as a discrepancy regarding the treatment of a charged-off debt by XXXX XXXX XXXX XXXX XXXX XXXX XXXX and its implications for tax reporting. 

Upon reviewing my credit reports, I have identified discrepancies that warrant investigation and correction. Specifically, there are inaccuracies related to the Fair Credit Billing Act, Fair Credit and Charge Card Disclosure Act, Fair Debt Collection Practices Act, and the Credit Card Accountability Responsibility and Disclosure Act of 2009 ( Credit CARD Act ). I have outlined these discrepancies in detail below : it seems that there are a few inconsistencies and inaccuracies in the reported details of these two accounts : Credit Limit Exceeded : Both accounts show a credit limit of {$2000.00} and a balance of {$2100.00}, indicating that the credit limit has been exceeded. This could be a potential error in reporting or calculation. 

Minimum Monthly Payment : The overview section for the first account states " Minimum monthly payment : {$0.00}, '' which seems unusual for a credit card account with a balance and a credit limit. Typically, credit card issuers require a minimum monthly payment to be made. 

Payment History : The second account 's payment history table shows the last payment made on XX/XX/XXXX, while the account details section indicates the last payment made on XX/XX/XXXX. There is a discrepancy between these dates. 

Late Payment Counts : The first account 's payment history indicates no late payments ( XXXX ), while the second account 's payment history shows two payments 30 days late, one payment 60 days late, and three payments 90 days late. This inconsistency suggests a discrepancy in the reporting of late payments. 

Responsibility and Remarks : The responsibility for both accounts is listed as " Individual, '' but the remarks for the first account mention " Charged off as bad debt, '' while the remarks for the second account mention " Consumer disputes after resolution '' and " Charged off account. '' There seems to be some confusion regarding the status and resolution of the accounts. 

According to IRS regulations and guidelines, a charge-off is considered a certificate of indebtedness and may result in taxable income for the debtor. XXXX XXXX asserts that they have not issued an IRS Tax Form 1099-C to me as no settlement agreement has been made or fulfilled. However, it is my understanding that the charge-off of the debt still constitutes a certificate of indebtedness as per IRS regulations , and should be treated as income and eligible for removal from the records. 

I kindly request your assistance in investigating these matters to ensure compliance with relevant laws and regulations, including the Fair Debt Collection Practices Act, Fair Credit Reporting Act, and IRS guidelines. Additionally, I would appreciate clarification on XXXX XXXX 's assertion regarding the issuance of Form 1099-C. 

Enclosed with this letter are copies of relevant documentation, including correspondence with XXXX XXXX, credit reports, and IRS regulations, for your review. 

Thank you for your attention to these matters. I look forward to your prompt response and resolution of these issues. 

Sincerely, XXXX XXXX XXXX : Copies of relevant correspondence with XXXX XXXX XXXX reports highlighting discrepancies IRS regulations regarding tax treatment of charged-off debts