Consumer complaint received 2025-04-20 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA

Complaint narrative:
XXXX  File Number : XXXX Date Created : XX/XX/XXXX. Dispute for Reinvestigation CAPITAL ONE ( TransUnion Report ). Subject : FCRA and IRS Violations Request for Immediate Deletion Due to Inaccurate, Misleading, and Unverifiable Reporting. This is a formal second request for reinvestigation concerning the account listed as CAPITAL ONE, originally opened on XX/XX/XXXX and closed on XX/XX/XXXX. As of the most recent update dated XX/XX/XXXX, TransUnion is reporting this account as a charge-off with an outstanding balance and past due amount of {$6100.00}, which exceeds the original credit limit of {$5000.00}. The account is also marked as closed by credit grantor, yet it continues to report monthly updates post-closure. This dual reporting is legally misleading. A charge-off means the creditor has deemed the account uncollectible and written it off as a loss. When a charge-off is labeled or treated as a Profit and Loss entry, it triggers a mandatory tax reporting requirement under IRS Code 26 U.S.C. 6050P, which states that any discharged debt over {$600.00} must result in the issuance of a Form 1099-C Cancellation of Debt to both the IRS and the consumer. I have never received a 1099-C from Capital One, confirming this reporting is legally incomplete and may constitute fraudulent tax conduct. A formal complaint is being filed with the IRS Criminal Investigation Division for failure to comply with federal tax reporting obligations. From a credit reporting standpoint, this violates the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681e ( b ), which mandates that all data on consumer reports be complete and not misleading. Reporting a charge-off while continuing to list an active balance and past-due status contradicts the nature of a charge-off and unfairly damages my credit profile. This dispute is submitted with new material evidence, including a certified TransUnion credit report dated XX/XX/XXXX, and IRS Notice XXXX confirming the 1099-C requirement for profit-and-loss charge-offs. As such, I invoke my right to reinvestigation under FCRA 1681i ( a ) ( 1 ) ( A ) and demand full deletion under FCRA 1681i ( a ) ( 5 ) ( A ) due to the unverifiable and contradictory nature of the reported information. Furnishers are also obligated to correct or delete inaccurate data under FCRA 1681s-2 ( a ) ( 2 ). Additionally, I do not consent to the distribution of this accounts data to third-party data brokers such as XXXX, XXXX, XXXX, or XXXX, which constitutes a violation of FCRA 1681b ( a ) and the Gramm-Leach-Bliley Act ( 15 U.S.C. 68016809 ). I demand immediate suppression of this account across these databases. Due to the clear violations and new documentary evidence submitted, I request that TransUnion permanently delete this account from my credit report. This reinvestigation should be completed within 14 calendar days, and I am proceeding with a complaint to the IRS XXXX XXXX XXXX regarding the XXXX violation.

Company response to consumer: Closed with explanation