Consumer complaint received 2024-12-07 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: PNC Bank N.A.
State: IL

Complaint narrative:
I am writing to formally dispute the reporting of an auto repossession on my credit report under account PNC BANK. This account was previously removed from my XXXX credit file, which demonstrates that the information is either inaccurate, unverifiable, or incomplete. Also, this account is being inaccurately reported for the full loan amount instead of reflecting the proper deficiency balance after the vehicle was sold at auction, as required by law. Furthermore, I was not provided with a required notice detailing the auction results and the remaining balance, which further invalidates the accuracy of this reporting. Therefore, I am requesting that you immediately investigate and remove this account from my credit file as required by federal law. 

Under 15 USC 1681 ( Fair Credit Reporting Act ), credit reporting agencies are required to maintain accurate and consistent records. Disparities in reporting across the XXXX major bureaus call into question the accuracy of the information being furnished and your adherence to your duty under the FCRA to ensure maximum accuracy in consumer credit reports ( 15 USC 1681e ( b ) ). Credit bureaus must report only accurate, complete, and verifiable information. Reporting the full loan amount after a repossession and sale violates this standard of accuracy. 

UCC 9-611 and 9-616 ( Uniform Commercial Code ) : Creditors are required to notify the borrower in writing of the time and place of the auction or sale of repossessed collateral ( 9-611 ). Additionally, after the sale, the creditor must provide an explanation of how the proceeds were applied, including the deficiency balance ( 9-616 ). Failure to provide this notice invalidates the debt or the claimed deficiency amount.

Additionally, the failure to verify the accuracy of this account may also constitute a violation of 15 USC 1681i, which requires prompt reinvestigation when a consumer disputes the completeness or accuracy of an item. Given that XXXX has already removed this account, I believe the same standard of accuracy should apply to your records. 

If the furnisher of this information ( PNC BANK ) is unable to provide documentation verifying its accuracy and compliance with those applicable laws I stated, you must remove the account immediately. Reporting unverifiable or incomplete information violates 15 USC 1681s-2 ( b ), which prohibits furnishers from knowingly reporting inaccurate data. 

I am also concerned that continuing to report this repossession despite its removal from another bureau may lead to harm under 15 USC 1681n and 15 USC 1681o, which provide for remedies in cases of willful or negligent noncompliance with the FCRA. 

Reasons for Dispute : XXXX. Failure to Provide Required Notices : I did not receive a pre-sale notice or post-sale explanation of the proceeds and deficiency balance, as required by UCC 9-611 and 9-616. Without these notices, the creditor is in violation of its legal obligations, and the reporting of the debt is invalid. 

XXXX. Incorrect Amount Reported : If the repossessed vehicle was sold, only the deficiency balance ( remaining amount after the sale proceeds were applied ) can be reported, not the full loan amount. Reporting the full balance is a clear violation of 15 USC 1681e ( b ), requiring accuracy in credit reporting. 


Requested actions : I respectfully request that you XXXX. Reinvestigate the Account : I request that you reinvestigate this account and verify its accuracy with the furnisher of the information and require the furnisher to provide COMPLETE documentation verifying its accuracy. 

XXXX. Obtain Proof of Notices and Accuracy : Require the furnisher to provide documentation of the auction results, the pre-sale and post-sale notices, and the calculation of the deficiency balance. If they can not provide this information, the account must be removed from my report. 

XXXX. Correct or Remove the Account : If the information can not be verified or is found to be incomplete or inaccurate, this account must be corrected or removed from my credit file as required under 15 USC 1681i. 

XXXX. Provide me with a written response within XXXX  days, as required by the FCRA, detailing the results of your investigation and any actions taken. 


Please note that I am prepared to escalate this dispute to the Federal Trade Commission ( FTC ), the Consumer Financial Protection Bureau ( CFPB ), or other appropriate authorities if necessary. 

Thank you for your prompt attention to this matter. I look forward to your written response.

Company response to consumer: Closed with explanation