Consumer complaint received 2026-02-16 00:00:00
Product: Debt collection — I do not know
Issue: Took or threatened to take negative or legal action — Threatened or suggested your credit would be damaged
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC

Complaint narrative:
To Whom It May Concern, I am submitting this formal complaint regarding a charged-off credit card account reported by Bank of America that reflects an admitted cancellation of debt, yet continues to be reported as an outstanding derogatory tradeline on my consumer credit reports.

This complaint concerns violations of federal tax law, the Fair Credit Reporting Act ( FCRA ), and applicable credit reporting standards. 

Account Information Creditor : Bank of America Account Number : * * * * ( as reported ) Account Type : Credit Card Date Opened : XX/XX/XXXX Closed Date : XX/XX/XXXX Balance Reported : {$11000.00} High Balance : {$13000.00} Bureaus Reporting : XXXX XXXX XXXX Admission of Cancellation-of-Debt Event This tradeline is reported using explicit cancellation language, including : Canceled by credit grantor Charged off as bad debt Unpaid balance reported as a loss by the credit grantor These statements constitute an identifiable cancellation-of-debt event under : 26 U.S.C. 6050P Treasury Regulation 1.6050P-1 Federal law requires that when a creditor cancels or discharges indebtedness of {$600.00} or more, the creditor must issue IRS Form 1099-C to the consumer and the Internal Revenue Service. 

To date : No IRS Form 1099-C has been issued or provided to me No explanation has been offered justifying why this debt is treated as canceled for accounting purposes but not reported as canceled for tax purposes Inaccurate and Misleading Credit Reporting ( FCRA Violations ) A creditor can not lawfully report a debt as canceled or written off while simultaneously reporting it as a collectible or enforceable obligation on a consumer credit report. 

This constitutes inaccurate and misleading reporting in violation of : 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ) Furnishers may not report information they know or have reasonable cause to believe is inaccurate or misleading.

15 U.S.C. 1681s-2 ( b ) Requires a reasonable investigation and verification of the legal status of the debt once disputed.

By continuing to report this account without issuing the required IRS documentation or clearly identifying the debt as canceled, Bank of America is furnishing materially misleading information to consumer reporting agencies. 

Demand for Relief I hereby demand that Bank of America : Provide a copy of the IRS Form 1099-C issued for this account ; Immediately delete this tradeline from all consumer reporting agencies due to inaccurate and misleading reporting. 

Provide written confirmation that no cancellation-of-debt event occurred, including the legal basis for reporting the account as canceled by credit grantor ; or Absent production of the required documentation, continued reporting constitutes willful noncompliance with federal law. 

This complaint is being submitted to the Consumer Financial Protection Bureau ( CFPB ) for regulatory review and enforcement. 

Please provide a written response within the CFPBs required response timeframe.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation