Consumer complaint received 2024-09-17 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: VA

Complaint narrative:
Equifax I have been going back and forth on this account for over a year. 

Violation of 5 USC 552 & 15 USC 1681i Charge Off Account Is Considered Income Which Is Violation Of USC 1681a ( 2 ) ( d ) Inaccurate/MISSING Information Reported For Monthly Payments DELETE Account IMMEDIATELY. SEVERE DAMAGES! CIVIL PENALTY XXXX XXXX  Account # XXXX CFPB Complaint : XXXX XXXX XXXX has stated There are no other disclosures that XXXX XXXX is required to provide under federal law prior to sharing consumer personal information with a non-affiliated third party which is a violation to 15 U.S.C.

6802. So, are they stating that their Corporation Policy and Procedures oversee Federal Law?

Under Federal Law you are required to give me ( 3 ) disclosures and the option to exercise the option to opt out of sharing my information to non-affiliated 3rd parties and how to go about it? Do you provide those disclosures and are the on file to provide? I have attached the law below to show you.

15 U.S. Code 6802 - Obligations with respect to disclosures of personal information 1 ) IN GENERAL A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless ( A ) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option. 
XXXX XXXX also stated the XXXX XXXX XXXX has been sold, but I was never explained where, how, and for how much. Was the XXXX  XXXX XXXX sold at an auction in a commercially reasonable manner? How much was the vehicle sold for and can you provide documentation? After repossession legally vehicles are supposed to be sold at auction. 
This account has been written off as a Charge Off and you have received a tax benefit. When was the account charged off? How much was the account charged off for? Can you provide documentation and the transcript from IRS showing proof of Charge Off? This information does affect me because it would be filed against my Social Security Number as ( Income ).

I have provided 3 different court cases showing how unfair and inequitable it is to receive a tax break and still expect to receive collection activity. 
XXXX XXXX stated they are not aware of 15 U.S. Code 1605 - Determination of finance charge, FINANCE CHARGE DEFINED Except as otherwise provided in this section, the amount of the finance charge in connection with any consumer credit transaction shall be determined as the sum of all charges, payable directly or indirectly by the person to whom the credit is extended, and imposed directly or indirectly by the creditor as an incident to the extension of credit. The finance charge does not include charges of a type payable in a comparable cash transaction. The finance charge shall not include fees and amounts imposed by third party closing agents ( including settlement agents, attorneys, and escrow and title companies ) if the creditor does not require the imposition of the charges or the services provided and does not retain the charges. Examples of charges which are included in the finance charge include any of the following types of charges which are applicable : ( 1 ) Interest, time price differential, and any amount payable under a point, discount, or other system or additional charges. 
( 2 ) Service or carrying charge.

( 3 ) Loan fee, finders fee, or similar charge.

( 4 ) Fee for an investigation or credit report.

( 5 ) Premium or other charge for any guarantee or insurance protecting the creditor against the obligors default or other credit loss.

The Federal Law states under 15 U.S.C. 1605 Number 5 that included in every finance charge the alleged Creditor has a Premium or other charge for any guarantee or insurance PROTECTING THE CREDITOR against the obligors default or other credit loss. 
I truly hope that makes more sense to you now, so as you can see XXXX XXXX has received compensation from 1099C Tax Breaks, Vehicle being sold, and Premium Insurance protecting your corporation against consumers defaults. 
How is any of this fair to me or not defamation to my character, even my daily mode of living? I was a victim to subprime lending. I appreciate you apologizing for the inconvenience you have caused, but are you willing to fix or address any of the violations I am putting you on Notice about? This account is hindering my consumer report. 
Are you aware of State Usury Laws? 10 % is the highest cap for parties to charge interest in California and 6 % is the highest cap for parties to charge interest in Pennsylvania. The interest rate on the installment contract you provided shows 19.49 %, and again another way my state usury rights were violated. 
Deleting the account from the Consumer Reporting Agency does not mean one is not obligated to the alleged debt.

You are just being put on notice of the Federal Laws XXXX XXXX is violating and seeing where you accept anything for value and consideration moving forward. 
I would appreciate it if the next response is you are advising me the account will be deleted and I can have sent an update of my consumer report ( s ) with the deletion of the account and what are the next steps that can be taken.

15 U.S. Code 1601- Congressional findings and declaration of purpose ( a ) Informed use of credit The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the " informed '' use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices. 
( b ) Terms of personal property leases The Congress also finds that there has been a recent trend toward leasing automobiles and other durable goods for consumer use as an alternative to installment credit sales and that these leases have been offered without adequate cost disclosures. It is the purpose of this subchapter to assure a meaningful disclosure of the terms of leases of personal property for personal, family, or household purposes so as to enable the lessee to compare more readily the various lease terms available to him, limit balloon payments in consumer leasing, enable comparison of lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements. 
As you can see XXXX XXXX, Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the " informed '' use of credit. 
Thank You Again For Your Time. I will be waiting on the documentation to be provided that has been requested, and I have transmitted this information to all 3 Consumer Reporting Agencies to make sure they are doing an actual proper investigation. 

/s/ XXXX XXXX XXXX XXXX XXXX XXXX All Rights Reserved

Company response to consumer: Closed with non-monetary relief