Consumer complaint received 2025-04-09 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: EQUIFAX, INC.
State: SC

Complaint narrative:
I am filing this formal complaint against XXXX XXXX account # XXXX regarding a charged-off account that is still being negatively reported on my credit file despite being sold to another lender and fully satisfied. This reporting is now inaccurate, incomplete, and misleading, in direct violation of federal laws and credit reporting standards. 

Background : - The original account with XXXX XXXX has been charged off and sold to another entity. 
- The balance on this account was satisfied in full through payment to the purchasing lender. 
- Despite this, XXXX XXXX continues to report a negative balance and charge-off status on my credit reports. 
- This negative reporting is harming my ability to qualify for a mortgage and violates my consumer rights under federal law. 

Legal Basis for Deletion and Compensation : 1. Fair Credit Reporting Act ( FCRA ) 15 U.S.C. 1681e ( b ) Credit reporting agencies and furnishers must report information with maximum accuracy. Reporting a charged-off balance that is no longer owed after the debt is sold and paid violates this standard. 

2. FCRA 15 U.S.C. 1681s-2 ( b ) Furnishers like XXXX XXXX must : - Conduct proper investigations of disputed information, - Correct any inaccuracies, and - Cease reporting unverifiable or false data. 
Continuing to report this account as outstanding or delinquent constitutes negligent and willful noncompliance & negligence. 

3.Uniform Commercial Code ( UCC ) 3-603 Discharge by Payment A party 's obligation is discharged when paid in full, even if assigned or sold to another creditor. Reporting a balance as due after satisfaction is a false representation of the obligation.

4. UCC 3-501 ( b ) ( 2 ) Right to Verification Upon demand, the alleged creditor must provide proof of ownership and a valid, enforceable contract with the wet signature. If XXXX XXXX has sold the account, it no longer has standing to report or collect on it. 

5. UCC 1-201 ( 20 ) Verification Defined Verification must be authenticated and provable. No documentation from XXXX XXXX has shown that they are still legally entitled to report the account, especially post-sale. 

6.15 U.S.C. 1692e ( 8 ) FDCPA ( if debt collection is involved ) It is a violation of the FDCPA to communicate or report credit information known to be false, including the continued reporting of a debt that has been resolved. 

Relief Requested : - Immediate deletion of this account from all credit reporting agencies. 
- Written confirmation that XXXX XXXX has ceased all negative reporting. 
- Compensation for damages caused by their reporting errors, including loss of mortgage opportunity, emotional distress, and potential increase in interest rates. 
- Full disclosure of the account 's chain of ownership and payment history. 

Conclusion : This account has been resolved, and XXXX XXXX is no longer the legal owner. Their continued negative reporting is unlawful and causing material harm. I respectfully request the CFPB to investigate this matter and compel XXXX XXXX to remove the account, correct the misinformation, and compensate me for the damages caused.

Company response to consumer: Closed with non-monetary relief