Consumer complaint received 2024-11-20 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: MARINER FINANCE, LLC
State: MO

Complaint narrative:
Subject : Formal Complaint Against Mariner Finance for Reporting Inconsistencies and Failure to Provide Required 1099-C To Whom It May Concern, I am writing to formally file a complaint regarding Mariner Finances handling of my account, specifically their failure to comply with applicable federal laws and regulations governing the reporting and issuance of Form 1099-C for cancelled debts. The account in question, Account XXXX. XXXX, was charged off in XX/XX/year>. 

Despite the charge-off designation, Mariner Finance has not issued a Form 1099-C to notify me of the cancellation of debt, which is legally required under IRS regulations when certain conditions, including a charge-off, are met. Concurrently, Mariner Finance continues to report this account on my credit report, suggesting ongoing collection efforts or retained liability on my part. These actions are contradictory, misleading, and potentially in violation of consumer protection and tax laws. 

Key Issues : Failure to Issue Form 1099-C Under IRS guidelines ( 26 U.S. Code 6050P ), creditors must issue a Form 1099-C to the debtor when a debt is cancelled, discharged, or otherwise deemed uncollectible, typically after a charge-off. As of today, I have not received this required documentation for the account noted above. 

Continued Reporting on Credit Reports Mariner Finance continues to report this account as charged off, which impacts my credit score and financial standing. However, the absence of a 1099-C creates ambiguity regarding the debts status. Either the debt has been canceled ( requiring a 1099-C ) or it remains collectible ( requiring clear reporting ). This discrepancy may constitute a violation of the Fair Credit Reporting Act ( FCRA ). 

Potential FDCPA Violations If Mariner Finance continues to imply that the debt is owed through credit reporting but fails to provide proper documentation of its status, this could constitute deceptive practices under the Fair Debt Collection Practices Act ( FDCPA ). 

Demand for Immediate Action I demand the following actions be taken without delay : Issuance of Form 1099-C Mariner Finance must issue Form 1099-C for the canceled debt and provide all related documentation to confirm compliance with IRS regulations. 

Correction of Credit Reporting Mariner Finance must update its reporting practices to accurately reflect the status of this account in accordance with federal law. If the debt has been canceled, the account should be reported as paid or settled with a {$0.00} balance. 

Investigation and Resolution The CFPB must investigate Mariner Finances practices to determine whether they are in violation of FCRA, FDCPA, and IRS requirements. 

Notice of Escalation If these issues are not resolved promptly, I will escalate this matter by filing complaints with : The Internal Revenue Service ( IRS ) for non-compliance with tax law. 
The Federal Trade Commission ( FTC ) for unfair or deceptive practices. 
My state Attorney General for violations of state consumer protection laws. 
I am requesting a formal response to this complaint within 30 days, outlining the steps taken to address the issues raised. 

Please note that I reserve all rights to pursue additional remedies, including legal action, should this matter remain unresolved. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation