Consumer complaint received 2024-06-14 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: CAPITAL ONE FINANCIAL CORPORATION
State: MS

Complaint narrative:
XXXX XXXX XXXX XXXX As of XX/XX/XXXX Capital One has been reporting account number XXXX as a CHARGE OFF. Below I have explained the duties of Capital One as a data furnisher and also the definition of a CHARGE OFF as defined by the IRS. 

NOTICE TO AGENT IS NOTICE TO PRINCIPAL NOTICE TO PRINCAL IS NOTICE TO AGENT Capital One you are furnishing inaccurate and incorrect information to the consumer reporting agencies. 
The reporting of such inaccurate information has caused severe damage to my character, my reputation, my general mode of living and my ability to obtain credit for personal and household purposes. 
You and your inaccurate reporting have damaged my livelihood. 

15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies ( a ) DUTY OF FURNISHERS OF INFORMATION TO PROVIDE ACCURATE INFORMATION 1 ) PROHIBITION ( A ) Reporting information with actual knowledge of errors Apersonshall not furnish any information relating to aconsumerto anyconsumer reporting agencyif thepersonknows or hasreasonable cause to believe that the information is inaccurate.

Duty : a moral or legal obligation ; a responsibility Accurate : correct in all details ; exact.

PROHIBITION : a law or regulation forbidding something As Defined by The IRS Even if you didn't receive a Form 1099-C, you must report canceled debt as gross income on your tax return.

The IRS Clearly defines a charge off as Gross or Ordinary income, INCOME DOES NOT GET REPORTED ON THE CONSUMER REPORT which in fact makes your reporting of this account inaccurate!

By Definition The IRS Clearly says a Cancelled debt or Charge off is Income. The reporting of this account as a debt is in accurate.

15 USC 1681 s-2 Says you Capital One are a furnisher of information to a consumer reporting agency.

You ARE PROHIBITED BY LAW to furnish inaccurate information. I demand you to Cease and Desist the reporting of incorrect/ in accurate information immediately.

15 USC 1681 s-2 ( a ) ( 1 ) ( A ) Apersonshall not furnish any information relating to aconsumerto anyconsumer reporting agencyif thepersonknows or hasreasonable cause to believe that the information is inaccurate You are hereby put on NOTICE that you are furnishing incorrect inaccurate information.

The lender must file Form 1099-C and send you a copy if the amount of debt canceled is {$600.00} or more and the lender is a financial institution, credit union , federal government agency, or other applicable entity as discussed earlier in chapter 1.

The above paragraph is taken directly from the IRS 2021 publication.

SEND ME MY FORM 1099-C that you should have sent when you Filled the account as a canceled debt.

Further More The truth in Lending Act 15 USC 1605 ( a ) Determination of the Finance charge Says This ( 5 ) Premium or other charge for any guarantee or insurance protecting thecreditoragainst the obligors default or othercreditloss.

Capital One There is an insurance built into the Finance Charge that protects the lender against the obligors default or other credit loss, How are you going to do aa Charge off when you collected the insurance money! Further more you have this account listed as a charge off well a charge off is a Cancelled Debt, which means not only did you collect on the insurance money you also got a Tax deduction!

You have gotten paid on this alleged debt not to mention insurance and tax fraud. Yet you are emailing me which I have proof of! 
I am filing complaints with the CFPB, XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 

SEND ME MY FORM 1099-C My address is Below XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 15 U.S. Code 1681s2 ( a ) DUTY OF FURNISHERS OF INFORMATION TO PROVIDE ACCURATE INFORMATION 1 ) PROHIBITION ( B ) Reporting information after notice and confirmation of errors Apersonshall not furnish information relating to aconsumerto anyconsumer reporting agencyif ( i ) thepersonhas been notified by theconsumer, at the address specified by thepersonfor such notices, that specific information is inaccurate ; and ( ii ) the information is, in fact, inaccurate.

In conclusion I have shown you and you have been put on notice that you are reporting inaccurate information. The information is, in fact, inaccurate.

The continued reporting of this inaccurate information is a clear violation of the Law 15 USC 1681 s-2 of your responsibilities as a furnisher of information.

You have caused me and my family severe harm due to your negligence and inaccurate reporting. This is a final opportunity to Cure and DELETE This Erroneous, inaccurate account from my Consumer report. 

YOU HAVE XXXX Calendar days to DELETE THIS ACOOUNT FROM MY CONSUMER REPORTS!

Company response to consumer: Closed with explanation