Consumer complaint received 2025-04-05 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: CAPITAL ONE FINANCIAL CORPORATION
State: TX

Complaint narrative:
Dear CFPB Representative, I am writing to formally dispute the inaccurate reporting of a Capital One credit card account on my credit report. The details of the account are as follows : Creditor Name : Capital One Account Number ( XXXX ) Date Opened : XX/XX/XXXX Status : Charged Off / Collection Balance Reported : {$1300.00} Upon review of my credit report, I have identified the following inaccuracies and issues with the way this account has been reported : Failure to Provide IRS Form 1099-C : According to IRS regulations ( 26 U.S. Code 6050P ), if a debt is canceled or forgiven in an amount over {$600.00}, the creditor is required to issue a Form 1099-C for tax purposes. I have not received this form from Capital One, which raises questions about whether the debt was truly charged off or if there is an error in reporting. 

Failure to provide a 1099-C while reporting the charge-off to the credit bureaus creates an inconsistency that must be corrected. 

Potential Reporting Inaccuracies : The account is listed with a charge-off status but still shows a balance of {$1300.00}. 


If the debt was indeed charged off, Capital One should not continue to report a past-due balance as this can be misleading and potentially violates the Fair Credit Reporting Act ( FCRA ) under 15 U.S.C. 1681s-2. 


Date of Last Activity vs. Date of Last Payment : The " Date Last Active '' is listed as XX/XX/XXXX, while the " Date of Last Payment '' is XX/XX/XXXX. These inconsistencies suggest possible re-aging of the debt, which is a violation of the FCRA. 


Incorrect Past Due Reporting : A charge-off means the debt was written off by the creditor, yet a past-due balance of {$1300.00} is still being reported, which is contradictory and misleading. The past-due amount should be adjusted to reflect the charge-off status correctly. 


Request for Investigation and Resolution : Under the Fair Credit Reporting Act ( FCRA ), I am requesting that Capital One provide verification and correct any inaccuracies in the reporting of this account. Specifically, I request the following : Proof that Capital One issued a 1099-C for the charged-off debt, or confirmation that the debt is still legally enforceable. 


A correction to any inaccurate reporting, including the past-due balance and charge-off status. 

Removal of this account from my credit report if Capital One can not verify its accuracy or provide the required documentation. 

Please conduct a thorough investigation into this matter. If the information can not be verified as 100 % accurate and compliant with federal regulations, I request the immediate deletion of this account from my credit report. 
I appreciate your prompt attention to this matter and expect a response within the timeframe allowed under the FCRA. Please provide me with written confirmation of the resolution. 

Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation