Consumer complaint received 2024-04-17
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: I.C. System, Inc. (NJ)

XXXX XXXX XXXX Please remove this account from my credit report as it is inaccurate and negatively effecting my credit report. 

I have not contracted or consented with them to furnish anything on my credit report. According to 15 U.S. Code 1681b - Permissible purposes of consumer reports section ( 2 ) Disclosure to Consumer subsection ( ii ) and section ( B ) subsection ( ii ) which states ( 2 ) ( ii ) the consumer has authorized in writing ( which authorization may be made on the document referred to in clause ( i ) ) the procurement of the report by that person ; ( B ) ( ii ) the consumer shall have consented, orally, in writing, or electronically to the procurement of the report by that person.

Permissible purpose defines the circumstances in which the FCRA allows credit reports to be obtained. These purposes are documented in section 604 of the FCRA as : * In response to a court order * After receiving permission from the consumer * To someone who : * Intends to use the information in connection with a credit transaction. 
* Such as the extension of credit * Intends to use the information for employment purposes. 
* Intends to use the information when underwritinginsurance for the consumer. 
* Intends to use the information to determine a consumer 's eligibilityto obtain a license. 
* Intends to use the information to assess credit or repayment risk. 
* Or otherwise has a legitimate business need for the information, a business transaction or reviewing an account. 
* Is an executive or government agency intending to use the information for travel charge cards.

Because this is classified as a financing transaction I ask that the company submits the original copy of the 1099-C and the original wet ink promissory note that secured the transaction to verify the debt and note holder.

Under the code of : 15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies.

- ( 2 ) Duty to correct and update information - A person who ( A ) regularly and in the ordinary course of business furnishes information to one or more consumer reporting agencies about the persons transactions or experiences with any consumer ; and ( B ) has furnished to a consumer reporting agency information that the person determines is not complete or accurate, - shall promptly notify the consumer reporting agency of that determination and provide to the agency any corrections to that information, or any additional information, that is necessary to make the information provided by the person to the agency complete and accurate, and shall not thereafter furnish to the agency any of the information that remains not complete or accurate. 

Also this account is in collections which means that the business wrote the debt off on a 1099-C which is classified as income by the IRS.

15 U.S. Code 1681a ( 2 ) ( a ) ( i ) supports the previous sentence and states that the consumer report does not include information solely as to transactions or experiences ( payment history, charge off status ), between the consumer and the person making the report.

7 CFR 1782.3 - Definitions : Charge-off. Write off of a debt and termination of servicing activity without release of liability. A charge-off is a decision by the Agency to remove debt from Agency receivables , however, future payments may be received.

To conclude, In accordance with 15 U.S. Code 1681- Congressional findings and statement of purpose section ( a ) & ( b ) it is detrimental to the consumer as well as our economic structure that these negative items be removed.