Consumer complaint received 2024-03-07
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: Experian Information Solutions Inc. (TX)

Experian continues to report a collection on my consumer report I do not owe. The debt has also been canceled and now considered income according to the IRS publication. Since this has been filed as income on my tax return this account can not legally be reported. 

( a ) Accuracy and fairness of credit reporting The Congress makes the following findings : ( 1 ) The banking system is dependent upon fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system. 
( 2 ) An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity, character, and general reputation of consumers.

( 3 ) Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers.

( 4 ) There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. 
( b ) Reasonable procedures It is the purpose of this subchapter to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this subchapter. 

A debt is deemed canceled on the date an identifiable event occurs or, if earlier, the date of the actual discharge if you choose to file Form 1099-C for the year of cancellation. An identifiable event is one of the following. 

A discharge in bankruptcy under title 11 of the U.S. Code. For information on certain discharges in bankruptcy not required to be reported, see Exceptions, later. Enter A in box 6 to report this identifiable event. 
A cancellation or extinguishment making the debt unenforceable in a receivership, foreclosure, or similar federal nonbankruptcy or state court proceeding. Enter B in box 6 to report this identifiable event. 
A cancellation or extinguishment when the statute of limitations for collecting the debt expires, or when the statutory period for filing a claim or beginning a deficiency judgment proceeding expires. Expiration of the statute of limitations is an identifiable event only when a debtor 's affirmative statute of limitations defense is upheld in a final judgment or decision of a court and the appeal period has expired. Enter C in box 6 to report this identifiable event. 
A cancellation or extinguishment when the creditor elects foreclosure remedies that by law extinguish or bar the creditor 's right to collect the debt. This event applies to a mortgage lender or holder who is barred by local law from pursuing debt collection after a power of sale in the mortgage or deed of trust is exercised. Enter D in box 6 to report this identifiable event. 
A cancellation or extinguishment making the debt unenforceable under a probate or similar proceeding. Enter E in box 6 to report this identifiable event. 
A discharge of indebtedness under an agreement between the creditor and the debtor to cancel the debt at less than full consideration ( for example, short sales ). Enter F in box 6 to report this identifiable event. 
A discharge of indebtedness because of a decision or a defined policy of the creditor to discontinue collection activity and cancel the debt. A creditor 's defined policy can be in writing or an established business practice of the creditor. A creditor 's established practice to stop collection activity and abandon a debt when a particular nonpayment period expires is a defined policy. Enter G in box 6 to report this identifiable event.

Other actual discharge before identifiable event. Enter H in box 6 if there is an other actual discharge before one of the identifiable events listed above.