Consumer complaint received 2024-05-02
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: Spring Oaks Capital, LLC (MO)

Recently I mailed a letter requesting verification of accounts reporting on my credit report that your bureau maintains based on my most recent my dispute results/re-investigation, I received a response stating that the account ( s ) were verified.

I was formally requesting a description of the procedure your bureau used in providing all information to the original creditor in processing my dispute under FCRA 611 ( a ) ( 7 ).

To be clear, per FCRA 611 ( a ) ( 2 ) ( b ), your agency is required to forward all relevant information to the original creditor to ensure proper investigation of my dispute. I am requesting you provide me ALL information used for your investigation, as required by FCRA 611 ( a ) ( 7 ).

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Per the FCRA you are required to provide this information within 15 calendar days or delete the negative items from my credit report.

The following accounts are repeatedly listed incorrectly as charge offs and in violation of the Internal Revenue Services federal guidelines.

In relation to the accounts listed incorrectly based on the following Department of Treasury Publication 4681 : Cancelled Debts, Foreclosures, Repossessions and Abandonments Forms 1099-A and 1099-C. A lender who ac-quires an interest in your property in a foreclosure or repossession should send you Form 1099-A, Acquisition or Abandonment of Se-cured Property, showing information you need to figure your gain or loss. However, if the lender also cancels part of your debt and must file Form 1099-C, the lender can include the information about the foreclosure or repossession on that form instead of on Form 1099-A. The lender must file Form 1099-C and send you a copy if the amount of debt canceled is {$600.00} or more and the lender is a financial institution, credit union , federal government agency, or other applicable entity, as discussed earlier in chapter 1. For foreclosures or repossessions occurring in XXXX, these forms should be sent to you by XXXX XXXX XXXX. Real property ( such as a home ) Intangible property, or Tangible personal property held ( wholly or partly ) for use in a trade or business or for investment that secures a loan and the lender knows the property has been abandoned, the lender should send you Form 1099-A showing information you need to figure your gain or loss from the abandonment. Also, if your debt is canceled and the lender must file Form 1099-C, the lender can include the information about the abandonment on that form instead of on Form 1099-A. The lender must file Form 1099-C and send you a copy if the amount of debt canceled is {$600.00} or more and the lender is a financial in-situation, credit union, federal government agency, or other applicable entity, as discussed earlier in chapter 1. For abandonments of property and debt cancellations occurring in XXXX, these forms should be sent to you by XXXX XXXX XXXX. This has been requested several times since the inception of this debt based on the numerous disputes requested outlying this information listed as cancelled debt, but denying my right to remain compliant with federal taxes as the information is never furnished for the 1099-C for legal purposes is in direct violation of FCRA guidelines : As this was a request to reinvestigate the following Accounts violates FCRA Rule 15 US Code 1681i-Procedure in case of Disputed accuracy has been violated as my many attempts for disputing the listed accounts are not being properly investigated as stated above 1099-C have not been provided for these accounts after several attempts to request the information for legal purposes that align with my staying compliant with federal taxes, are listed below and I am requesting the information be deleted due to non-compliance of FCRA Rule 15 US Code 1681i Procedure In case Of Disputed Accuracy Rule 12 ( b ) ( 6 ) permitting motion to dismiss for failure of the complaint to state a claim on which relief can be granted.

I am demanding the following accounts be deleted based on the continued violation of FDCPA and FCRA guidelines based on several requests not properly handled : XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX, VA XXXXXXXX Cordially, XXXX XXXX