Consumer complaint received 2024-12-24 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Affirm Holdings, Inc
State: TX

Complaint narrative:
I am filing a formal complaint regarding an account reported by Affirm Inc. on my credit report. I believe this item is inaccurate, unverifiable, and in violation of several federal laws and regulations. I am requesting an investigation into Affirm Inc.s practices and demand the immediate deletion of this account from my credit file. 

Detailed Issues and Inaccuracies Failure to Notify or Validate Debt I was not notified of this debt or its origination. I was unaware of the debts existence prior to it being reported. This may constitute a violation of the Fair Debt Collection Practices Act ( FDCPA ), 15 U.S.C. 1692g ( a ), which requires debt collectors to notify consumers of the debt and their rights within five days of initial contact. 

Despite my prior request for validation, Affirm Inc. failed to validate the debt, violating 15 U.S.C. 1692g ( b ), which mandates that debt collectors cease collection efforts until validation is provided. 

Misleading and Incomplete Comments Section The Comments section states the account was assigned to collections, but no evidence of the debt transfer or ownership was provided. The absence of supporting documents, such as a signed agreement, violates Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ), which requires accurate and complete information reporting. 

Reporting Past the Statutory Time Frame The accounts last activity date is listed as XX/XX/year>. However, any adverse information older than seven years should no longer appear on credit reports per 15 U.S.C. 1681c ( a ) ( 4 ) of the FCRA.

No Issuance of IRS Form 1099-C for Charge-Off Creditors are required to issue an IRS Form 1099-C for debts discharged or charged off exceeding {$600.00}, under XXXX U.S.C. 6050P. Affirm Inc. failed to provide such documentation, suggesting non-compliance with federal tax reporting requirements. 

Derogatory Status Without Validation The account is listed as Derogatory and Collection/Chargeoff, yet Affirm Inc. failed to validate the debt. This violates 15 U.S.C. 1692g ( b ) and 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ).

Inaccurate Balance and Payment Information The balance of {$1100.00} appears unverifiable and inaccurate. Additionally, the Monthly Payment is listed as {$0.00}, which is misleading for an installment loan. This violates 15 U.S.C. 1681s-2 ( a ) ( 2 ), requiring creditors to update and correct inaccurate information.

Reporting to Only One Bureau The account is reported only to XXXX and not to other major credit bureaus. This inconsistency may indicate unfair or deceptive reporting practices under 15 U.S.C. 1681 ( a ) ( 1 ).

Violations of Applicable Laws and Codes Fair Credit Reporting Act ( FCRA ) 15 U.S.C. 1681c ( a ) ( 4 ) : Prohibits reporting adverse information older than seven years.

15 U.S.C. 1681i ( a ) : Grants consumers the right to dispute inaccuracies and requires timely investigation by credit reporting agencies.

15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ) : Mandates furnishers ensure the accuracy and integrity of information supplied to credit reporting agencies.

15 U.S.C. 1681s-2 ( a ) ( 2 ) : Requires creditors to update and correct inaccurate or incomplete information.

Fair Debt Collection Practices Act ( FDCPA ) 15 U.S.C. 1692g ( a ) : Requires debt collectors to notify consumers of the debt and their rights within five days of initial contact.

15 U.S.C. 1692g ( b ) : Requires debt collectors to cease collection efforts until the debt is validated if disputed by the consumer.

Internal Revenue Code ( IRC ) 26 U.S.C. 6050P : Requires creditors to issue a 1099-C form for debts discharged in excess of {$600.00}. 

Consumer Financial Protection Act ( CFPA ) 12 U.S.C. 5531 : Prohibits unfair, deceptive, or abusive acts or practices ( UDAAP ).

Immediate Deletion of AccountI request that this account be deleted from all credit reports as it fails to meet the requirements of federal laws.

Investigation of Affirm Inc.I request that the CFPB investigate Affirm Inc.s reporting practices for potential violations of FCRA, FDCPA, IRC, and CFPA.

Legal Action NoticeIf this item is not promptly removed, I will pursue legal action for the harm caused by these violations under the laws mentioned above.

This issue has caused undue financial stress and damage to my credit reputation. I trust the CFPB will take appropriate action to resolve this matter and hold Affirm Inc. accountable for any violations. Failure to remove this account immediately will result in legal action to protect my rights under federal law.

Company response to consumer: Closed with explanation