Consumer complaint received 2025-06-10 00:00:00
Product: Debt collection — Credit card debt
Issue: Written notification about debt — Didn't receive enough information to verify debt
Company: Possible Financial Inc
State: WA

Complaint narrative:
To Whom It May Concern, I am submitting this formal complaint regarding the continued inaccurate and harmful credit reporting by Possible Financial Inc, associated with account number ending in XXXX. The nature of this reporting appears to violate the Fair Credit Reporting Act ( FCRA ) and potentially the Fair Debt Collection Practices Act ( FDCPA ). 

Account Information : Creditor : Possible Financial Inc Account Type : Unsecured Date Opened : XX/XX/XXXX Original Balance : {$230.00} Reported Balance : {$270.00} Status : " Account charged off. {$270.00} written off. {$270.00} past due as of XX/XX/XXXX '' Status Updated : XX/XX/XXXX Account Closed : Yes Payment Terms : 2 Months Negative History : 71 months Contact Info : Possible Financial Inc XXXX XXXX XXXX XXXX XXXX XXXX, WA XXXX Phone : ( XXXX ) XXXX Key Issues with This Reporting : 1. Inaccurate and Misleading Past Due Status on Charged-Off Account The account was charged off yet is still reported as " past due as of XX/XX/XXXX, '' which is inaccurate and violates FCRA 1681e ( b ). Charged-off debts are closed and can not simultaneously be past due. This misrepresentation falsely suggests continued delinquency and unfairly damages my credit. 

2. Ongoing Monthly Updates Constitute Illegal Re-Aging The last meaningful activity on this account was in XXXX, yet it continues to update monthly, appearing as a new delinquency. This extends the derogatory effect of the item well beyond the lawful seven-year limit outlined in FCRA 1681c ( a ) ( 4 ). Reporting this account as actively past due in XXXX could be construed as illegal re-aging, a prohibited practice under the law. 

3. Balance Inflation and Unexplained Fees The original balance on the account was {$230.00}. The reported charge-off balance is now {$270.00}. I have received no itemized explanation of how this {$40.00} increase occurred. Under FDCPA 808 ( 1 ), it is illegal to collect or report any amount unless it is expressly authorized by the agreement or permitted by law. I request a full validation of this amount. 

4. No Debt Validation Provided Despite Multiple Disputes I have contacted both Possible Financial and the credit bureaus multiple times, yet no validation of this debt has ever been provided. Under FDCPA 809 ( b ), if a consumer disputes a debt, the collector must cease collection and provide validation. To date, that has not happened, nor have I received any supporting documentation for this account. 

5. No 1099-C Cancellation of Debt Issued If Possible Financial has legally charged off this debt and has no intent to collect, they are obligated to issue a Form 1099-C under IRS Code 6050P. I have never received this form, and this inconsistency raises serious concerns about the accuracy and completeness of their reporting practices. 

6. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX I am a documented XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX This account was likely opened or mishandled during a period when I was experiencing coercive abuse and economic control. I am now working to restore my credit and reclaim financial freedom, and this continued inaccurate reporting retraumatizes me and obstructs my ability to rebuild.

Company public response: Company disputes the facts presented in the complaint
Company response to consumer: Closed with explanation