Consumer complaint received 2025-02-07 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: EQUIFAX, INC.
State: GA

Complaint narrative:
Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX XXXX XXXX IA XXXX Equifax XXXX XXXX XXXX XXXX XXXX XXXX, GA XXXX XXXX XXXX XXXX XXXX XXXX XXXX, PA XXXX Subject : Dispute of Charged-Off Debt from XXXX XXXX XXXX XXXX 1099-C Issued, Request for Immediate Deletion from All Reports Dear Sir or Madam, I am writing to formally dispute the charged-off debt reported by XXXX XXXX XXXX ( Account Number XXXX XXXX XXXX with a balance of {$290.00}, reported in XX/XX/XXXX, on my XXXX and Equifax credit reports. This account is not listed on XXXX, which raises serious concerns regarding the accuracy and consistency of the reporting. Additionally, no 1099-C form has been issued for this debt, which violates IRS regulations and further invalidates this charge-off entry.

This charge-off should not be reported as it has not been properly handled according to IRS guidelines or credit reporting standards. As a result, I am demanding the immediate removal of this charge-off from all three credit bureaus and the CFPBs intervention in ensuring compliance with the law. 

Account Information : Creditor/Collection Agency Name : XXXX XXXX XXXX  Account Number : XXXX XXXX Balance Reported : {$290.00} Date Reported : XX/XX/XXXX Charge-Off Status : Charge-Off Legal Violations and Grounds for Immediate Removal 1. FCRA Violation - Inaccurate Reporting and Failure to Investigate ( 15 U.S. Code 1681i ) Under 15 U.S. Code 1681i ( a ) of the Fair Credit Reporting Act ( FCRA ), credit reporting agencies are required to investigate and remove inaccurate or incomplete information when a dispute is raised. 
Since this account is not reported on XXXX and is being reported on Equifax and XXXX inconsistently, it clearly violates FCRA. The discrepancy in the reporting indicates the account is inaccurate and should be removed from all credit bureaus. The failure to report consistently across all bureaus is a violation of the law. 
2. FCRA Violation - Failure to Ensure Accuracy ( 15 U.S. Code 1681e ( b ) ) 15 U.S. Code 1681e ( b ) mandates that credit bureaus ensure accurate and complete information is reported. Since XXXX is not reporting the account and Equifax and XXXX are reporting it inconsistently, this is a clear violation of the FCRA. 
The continued reporting of this debt as an outstanding charge-off is inaccurate, and the information must be corrected or removed from my credit reports immediately. 
3. FCRA Section 1681s-2 ( b ) - Duties of Furnishers of Information Under 15 U.S. Code 1681s-2 ( b ), furnishers of information ( like XXXX XXXX XXXX XXXX are required to investigate disputes and correct any inaccuracies in the information they report. Since this debt is misreported and no 1099-C form has been issued, XXXX XXXX has failed to comply with their obligations to provide accurate reporting.

As no 1099-C form has been issued and the debt remains reported as a charge-off, this account must be removed from my credit report immediately.

4. IRS Violation Failure to Issue 1099-C Form ( 26 U.S. Code 6050P ) 26 U.S. Code 6050P mandates that creditors must issue a 1099-C form when they cancel a debt of {$600.00} or more. Since no 1099-C form has been issued for this canceled debt, it indicates that XXXX XXXX Bank has failed to comply with IRS regulations for canceled debts.

Failure to issue a 1099-C is a clear violation of IRS rules and provides grounds for removal of this charge-off from my credit report, as the debt is no longer valid for reporting.

5. FDCPA Violation Misrepresentation of Debt ( 15 U.S. Code 1692e ) According to 15 U.S. Code 1692e of the Fair Debt Collection Practices Act ( FDCPA ), debt collectors may not misrepresent the amount or status of a debt. The continued reporting of this charge-off with an outstanding balance, despite the fact that the debt has likely been paid or forgiven, constitutes a misrepresentation of the debt.

This is a clear violation of the FDCPA, and the debt should be removed immediately from all reports.

6. Time Limits on Reporting Negative Information ( 15 U.S. Code 1681c ) Under 15 U.S. Code 1681c, negative information, such as charge-offs, must be removed from credit reports after seven years from the first missed payment or date of debt cancellation.

If this charge-off is older than seven years, it must be removed immediately regardless of its current status.

Demand for Immediate Deletion Given the clear violations of FCRA, FDCPA, and IRS regulations, I demand immediate removal of this charge-off from my credit reports with Equifax, XXXX, and XXXX. The misreporting of this account as a charge-off with an outstanding balance is inaccurate, misleading, and damaging to my creditworthiness. 

Failure to Act If this issue is not resolved immediately, I will take further legal action for damages caused by this inaccurate reporting and violations of my rights under the FCRA and FDCPA, and I will file formal complaints with the Federal Trade Commission ( FTC ) and the State Attorney General. I will also consider taking legal action for violations under IRS tax regulations. 

Request for Investigation and Resolution I request that the CFPB immediately initiate an investigation into this matter and ensure that Equifax, XXXX, and XXXX remove this incorrect charge-off from my credit report. I expect a written response within 30 days confirming the removal of the charge-off and the corrected status reflected on my credit report. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with non-monetary relief