Consumer complaint received 2025-04-08 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc.
State: NV

Complaint narrative:
DEMAND FOR CORRECTION OF CREDIT ENTRY AND LEGAL NOTICE OF DEBT DISCHARGE Affidavit of Truth, Accounting, and Lawful Discharge To : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/XXXX RE : FORMAL NOTICE AND DEMAND TO CORRECT FRAUDULENT CHARGE-OFF XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I. FACTUAL DECLARATION XXXX. YOU, the above-named corporation, reported a charge-off to Equifax, Experian, and Transunion consumer reporting agency 's, regarding an alleged account under my name. 
XXXX. A charge-off, under GAAP and XXXX XXXX and IRS guidelines XXXX XXXX XXXX XXXX ), occurs only when a debt has been formally removed from the receivables ledger and classified as a loss. 
3. Said accounting event results in the following : a. The creditor takes a tax deduction for the alleged loss.

b. The debt is deemed uncollectible and extinguished for accounting purposes.

c. The creditor is barred under GAAP from reintroducing the debt to their books unless via novation or court judgment. 
4. Where IRS Form 1099-C has been issued ( or the statutory conditions requiring it have been met ), a legal discharge event has occurred.

5. Any continued attempt to collect, assign, or report this debt post-charge-off or post-discharge constitutes fraud, double accounting, and misrepresentation. 

XXXX. STATUTORY AUTHORITY REQUIRING DISCHARGE OF BAD DEBTS 1. Federal Reserve Act, Section 11 ( c ) ( 12 U.S.C. 248 ( c ) ) : " The Board of Governors of the Federal Reserve System shall have power... ( c ) To require the writing off of doubtful or worthless assets upon the books and balance sheets of Federal reserve banks. '' Enacted via : a. Federal Reserve Act of 1913 b. Emergency Banking Act of 1933, Public Law 73-1 c. Banking Act of 1935, Public Law 74-305 d. Further amended via 59 Stat. 237 ( 1945 ), 73 Stat. 264 ( 1959 ), and others This statute authorizes and compels financial institutions to discharge debts deemed " doubtful or worthless. '' 2. Internal Revenue Code 26 U.S.C. 6050P : " Any applicable entity which discharges ( in whole or in part ) the indebtedness of any person during any calendar year shall make a return of information ... '' Applicable entities include : a. Financial institutions ( as defined in 26 U.S.C. 581 ) b. Credit unions c. Organizations primarily engaged in money lending This law requires banks to report the discharge through IRS Form 1099-C, acknowledging cancellation.

3. GAAP & FASB Accounting Standards : Financial institutions must remove uncollectible assets from their ledgers when debts are determined to be unrecoverable, in accordance with generally accepted accounting principles and audit standards. 

XXXX. SUPPORTING XXXX SUPREME COURT PRECEDENT XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : " The release of an obligation for less than face value results in income to the obligor. '' XXXX. XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX ) : " A discharge of indebtedness is an accession to wealth, clearly realized, and over which the taxpayer has complete dominion. '' XXXX. XXXX v. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) : " A canceled obligation may, in certain contexts, constitute income and create a new asset. '' These cases confirm that discharged or canceled debt creates a legally recognizable benefit and extinguishes the enforceable obligation.

IV. DEMAND FOR CORRECTION Accordingly, the undersigned demands the following : Immediate removal of all negative reporting related to the referenced account from all consumer reporting agencies ; ( emphasis added by me ) Written confirmation of said removal within XXXX5 business days from receipt of this Notice ; Disclosure of whether you have taken a tax benefit or issued a Form 1099-C on this alleged account.

Failure to comply will establish willful injury and financial harm, and I reserve the right to seek remedy, relief, and damages under : The Fair Credit Reporting Act ( 15 U.S. Code 1681 ), The Fair Debt Collection Practices Act ( 15 U.S. Code 1692 ), Title 18 U.S.C. 1341 Mail Fraud, Title 18 U.S.C. 1001 False Statements, Title 18 U.S.C. 872 Extortion by Threat or Fraudulent Claim.

V. MAXIMS OF LAW THAT GOVERN What is extinguished can not be revived without new cause.

Truth is expressed in the form of an affidavit. 
A claim unchallenged stands as truth in commerce. 
He who accepts the benefit must also bear the responsibility

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