Consumer complaint received 2025-02-18 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: AMERICAN EXPRESS COMPANY
State: MI

Complaint narrative:
I am filing a formal complaint against AMEX regarding inaccurate, misleading, and unlawful credit reporting practices in violation of the Fair Credit Reporting Act ( FCRA ). I have identified multiple discrepancies on my XXXX credit report, specifically related to a charged-off account ( Account Number : XXXX ). The issues detailed below demonstrate clear violations of federal credit reporting laws and n

ecessitate an immediate resolution. I have tried disputing this item and it is still listed on my credit report with inaccurate information. 1. Repeated Charge-Off Reporting Violation of FCRA 1681s-2 ( a ) ( 1 ) ( A ) A charge-off is a one-time event, yet AMEX is incorrectly reporting it every single month , as shown in my 24-month payment history.

This practice misrepresents the actual status of the debt and unfairly extends the impact of the charge-off on my credit profile.

Under the FCRA, creditors must report accurate information. Repeated charge-offs violate the law by making it appear as if new delinquencies are occurring when the debt was already charged-off.

2. Inaccurate Balance and Past Due Amount Reporting Violation of FCRA 1681s-2 ( a ) ( 1 ) ( B ) AMEX reports a charge-off of {$2300.00} while simultaneously reporting a past due amount of {$1000.00}.

Once an account is charged-off, the past due balance should be {$0.00} unless additional fees or interest are contractually permitted, which AMEX has not provided proof of.

This false reporting damages my creditworthiness and constitutes deceptive credit reporting practices.

3. Failure to Accurately Update Account Status Violation of FCRA 1681s-2 ( a ) ( 2 ) The charge-off status update in XX/XX/2024 should reflect a single event, yet AMEX continues to update the reporting as if it were ongoing. 
The inaccurate and continuous negative reporting misrepresents the accounts actual history and artificially lowers my credit score.

Under the FCRA, information must be updated accurately and not be misleading, which AMEX has failed to do.

4. Re-Aging of the Debt Violation of FCRA 1681c ( a ) ( 4 ) By continually reporting charge-offs as if they are new each month, AMEX appears to be illegally " re-aging '' my debt. FCRA regulations state that negative information must be removed after seven years from the original delinquency date. By failing to provide clarity on this date and continuing to update the charge-off status monthly, AMEX is in violation of the law.

I am requesting that the the CFPB investigate AMEX for these violations and take corrective action. Specifically, I demand : Immediate removal of this account from my credit report due to unlawful reporting practices.

Assurance that AMEX will comply with FCRA regulations moving forward and prevent further harm to my credit profile.

If AMEX does not comply, I will escalate this complaint to : The Federal Trade Commission ( FTC ) www.ftc.gov My states Attorney General for deceptive and unfair credit reporting practices.

Company response to consumer: Closed with explanation