Consumer complaint received 2024-12-23 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Information belongs to someone else
Company: Experian Information Solutions Inc.
State: GA

Complaint narrative:
Dear Credit Reporting Agency, I am writing to formally dispute the reporting of the account with XXXX XXXX XXXX [ Account Number : XXXX ] on my credit report. This account is listed as " charged off, '' yet the balance remains reported as owed. This is inaccurate and violates my rights under the Fair Credit Reporting Act ( FCRA ) and federal tax regulations. 

Violations of Federal Consumer Protection Laws Fair Credit Reporting Act ( FCRA ) Section 623 and Section 611 ( 15 U.S.C. 1681s-2 and 1681i ) : Credit bureaus and furnishers are required to ensure the accuracy of reported information. Reporting a charged-off account with a balance owed, without issuing a XXXX or validating the debt, constitutes furnishing inaccurate information. 
Under Section 611, the investigation of my dispute must be completed within 30 days. This dispute was initiated on XX/XX/year>, and as of XX/XX/year>, I have received no supporting documentation to substantiate the accuracy of this account. 
Fair Debt Collection Practices Act ( FDCPA ) 15 U.S.C. 1692e and 1692f : If this account is with a debt collector, the reporting of a charged-off account with a balance still owed is a false and misleading representation under Section 1692e.

Additionally, under Section 1692f, reporting inaccurate or unverifiable information is considered an unfair practice.

Truth in Lending Act ( TILA ) 15 U.S.C. 1601 : TILA requires creditors to accurately disclose account balances and status. Reporting a charged-off account without accurately updating the balance to {$0.00} violates TILAs requirements for accurate reporting. 
Internal Revenue Code 26 U.S.C. 6050P : When a creditor cancels a debt of {$600.00} or more, they are required to issue a XXXX form to the debtor. 
By reporting the account as charged off but failing to provide me with the XXXX, the creditor has violated federal tax law. 
Consumer Financial Protection Act ( CFPA ) 12 U.S.C. 5531 ( UDAAP ) : Reporting this account inaccurately while failing to provide supporting documentation constitutes an unfair, deceptive, or abusive act or practice under the CFPA. 

Key Points of the Dispute : Charged-Off Status and Balance Discrepancy : When an account is charged off and written off as a bad debt, the creditor typically claims it as a loss for tax purposes and issues a XXXX form to the debtor, declaring the forgiven debt as income. 
In this case, the account is reported as charged off, yet the balance has not been updated to {$0.00}. This is contradictory and misleading. 
Failure to Provide XXXX Documentation : I have not received a XXXX form for this account, despite the creditor indicating it was written off. This failure to issue a required tax document not only violates federal tax law but also raises concerns about fraudulent reporting practices. 
Failure to Verify the Account : I have requested validation of this debt, including proof of the original agreement, a detailed payment history, and confirmation of how the balance was verified. To date, I have not received this information. 
Under FCRA Section 611, if an account can not be verified, it must be removed from my credit report. 
What I Am Requesting : Update the balance of the account to {$0.00} if it has been charged off and written off as a tax loss. 
Provide documentation of the XXXX issued to me. 
If no XXXX has been issued, provide proof that the account has not been written off and explain why it is still being reported as a charge-off. 
Legal Notice : Failure to comply with this request will result in the following actions : Filing additional complaints with the Consumer Financial Protection Bureau ( CFPB ) and Federal Trade Commission ( FTC ) regarding your non-compliance with the FCRA and federal tax laws. 
Pursuing legal action for damages under the FCRA, including statutory damages of up to {$1000.00} per violation, plus any actual damages caused by your inaccurate reporting. 
This is your formal notice to investigate and resolve this matter immediately. If the account can not be properly verified, or if the balance has been reported inaccurately, I demand that it be removed from my credit report entirely. 

Please respond to this dispute within 15 days of receipt, as required by law. Failure to respond appropriately will be seen as willful non-compliance with federal regulations

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