Consumer complaint received 2023-07-27
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: DISCOVER BANK (TX)

[ Your Name ] [ Your Address ] [ City, State, ZIP Code ] [ Email Address ] [ Phone Number ] [ Date ] Consumer Financial Protection Bureau XXXX XXXX XXXXXXXX XXXXXXXX XXXX, IA XXXX Subject : Complaint Regarding Inaccurate Personal Information on Credit Report Dear Sir/Madam, I am writing to file a formal complaint against Discover Bank regarding the inaccurately reported account that they reported on my consumer credit report. I believe that their negligent reporting has resulted in significant harm to my financial reputation and has hindered my ability to access credit on fair terms. 

Discover has reported an account on my credit report as charged off for almost 5 years. According to the IRS in order for a debt to be charged off the debt would've had to be canceled by properly filing a 1099c form with the internal revenue service. I recently called Discover at the beginning of XX/XX/2023 to request a copy of the 1099c form for the canceled debt. I was told verbatim by one of Discover 's representatives that there was no 1099c filed for this debt due to a possible mix-up. According to the IRS in order to charge off a debt the company has to file a 1099c, by doing so they claimed the debt as unretrievable, and write it off which the debt is then classified as _____ income. 

Violation number 1 : Income can not be reported on a consumer credit report.

After calling I decided to do my due diligence and mail a formal request to Discover to retrieve the 1099c form which I am legally entitled to. Not to mention that the 1099c form is required to be sent to the account holder as notice that the debt was canceled/charged off which it NEVER was because as the representative told me it was NEVER FILED. After sending my request via certified mail I received no response from said company within the reasonable time frame given. If the 1099c form was never filed then this account has been FALSELY reporting on my credit report for 5 plus years. I am deeply concerned about the impact this FRAUDULENT reporting may have had on my creditworthiness and overall financial standing for these last few years. 

As a responsible and diligent consumer, I have taken steps to ensure the accuracy of my credit report, including regularly monitoring my financial activity, promptly addressing any concerns, and maintaining good credit habits. However, despite my efforts, it appears that Discover and the credit bureaus have failed to fulfill their obligation under the Fair Credit Reporting Act ( FCRA ) to report accurate and up-to-date information. 

I kindly request that the Consumer Financial Protection Bureau intervene in this matter to rectify the situation promptly. Specifically, I request the following actions : Conduct a thorough investigation : I urge the CFPB to initiate an investigation into the inaccurate personal information reported by Discover. This investigation should encompass the specific inaccuracies I have identified, as well as any other potential errors that may exist within my credit file. 

Prompt removal of inaccurate information : Upon completion of the investigation, I insist that XXXX, XXXX, and XXXX be instructed to remove all inaccuracies from my credit report immediately. It is crucial that my credit report accurately reflects my personal information and financial history, as any further delays may result in unjust consequences for my creditworthiness and financial well-being. 
Notification of resolution : Once the necessary corrections have been made to my credit report, I kindly request that the CFPB ensure I am promptly notified of the resolution in writing. This notification should include a copy of my updated credit report reflecting the accurate information. 

I believe that by taking swift action on this matter, the CFPB can uphold its mission of protecting consumers and promoting fair and transparent financial practices. I trust in your commitment to ensuring the accuracy and integrity of credit reporting, which plays a crucial role in the lives of countless individuals. 

Enclosed with this letter are copies of the relevant documents supporting my claims, including my credit report highlighting the inaccuracies. Please find the enclosed documents for your reference. 

Thank you for your attention to this matter. I sincerely hope for a prompt resolution to rectify the inaccuracies on my credit report and restore my financial reputation. I appreciate the vital role the CFPB plays in safeguarding consumer rights, and I have confidence that my complaint will receive the attention it deserves. 

Should you require any further information or documentation, please do not hesitate to contact me at the provided contact details. I eagerly await your response and the resolution of this issue. 

Yours faithfully, XXXX Broken Laws & Violation : 15 U.S.C 1681 section 602 A. States I have the right to privacy. ( For starters I never gave consent for this private information to be reported on my credit report and it is highly invasive. Furthermore, the canceled debt is classified as gross ordinary income by definition of the federal law and the IRS. As stated by law Income can't be reported to a consumer 's credit report ).

15 U.S.C 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish an account without my written instructions ( I never gave consent for this private information to be reported on my credit report and it is extremely invasive. I also never received notice of the debt being late nor charged off. According to the law in order for a debt to be considered charged off the debt presumably by law was canceled which requires a 1099c form to be sent via mail which could've sufficed as notice but such form was never received. If the proper procedures were followed I wouldve been served my 1099c according to verbal confirmation from the IRS. I have requested this form from the creditor via certified mail and have yet to receive a response. It is safe to assume their silence means they are in agreement or they can not provide the form because it was never properly filed which is HIGHLY illegal and violates my rights as a consumer ).

15 U.S.C 1681c. ( a ) ( 5 ) Section States : no consumer reporting agency may make any consumer report containing any of the following items of information Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years.