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: SOFI TECHNOLOGIES, INC.
State: NC

Complaint narrative:
To Whom It May Concern, I am submitting this formal complaint regarding an improperly reported charged-off credit card account furnished by SoFi Bank , N.A., which reflects a profit-and-loss write-off / cancellation of debt, yet continues to be reported as an outstanding obligation on my consumer credit reports.

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

Account Information Creditor : SoFi Bank, N.A. 

Account Number : XXXX XXXX XXXX XXXX XXXX XXXX XXXX  Account Type : Credit Card Date Opened : XX/XX/XXXX Closed Date : XX/XX/XXXX Balance Reported : {$3800.00} High Balance : {$3800.00} Bureaus Reporting XXXX XXXX XXXX XXXXdmission of Cancellation-of-Debt Event This tradeline is reported using explicit cancellation language, including : Charged off as bad debt Profit and loss write-off 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 Form 1099-C has been issued or provided No explanation has been given justifying why a cancellation event is being reported for accounting purposes but not for tax purposes Inaccurate and Misleading Credit Reporting ( FCRA Violations ) A creditor can not legally treat a debt as canceled or written off for profit-and-loss purposes while simultaneously reporting it as an 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 tax documentation or clarifying the legal status of the debt, SoFi Bank is furnishing materially misleading information.

Demand for Relief I hereby demand that SoFi Bank, N.A. : Immediately delete this tradeline from all consumer reporting agencies due to inaccurate and misleading reporting.

Provide a copy of the IRS Form 1099-C issued for this account ; Provide written confirmation that no cancellation-of-debt event occurred, including the legal basis for reporting a profit-and-loss write-off ; 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 response to consumer: Closed with explanation