Consumer complaint received 2025-02-03 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: CarMax, Inc.
State: FL

Complaint narrative:
Carmax Auto Finance XXXX XXXX XXXX XXXX XXXX, IA XXXX Re : Dispute of Inaccurate Information in Credit Report Account Number : XXXX Dear CARMAX AUTO FINANCE I am writing to formally dispute the accuracy of certain information in my credit report, which I believe constitutes a violation of 15 U.S.C. 1681e ( b ).

This provision requires credit reporting agencies to maintain reasonable procedures to ensure maximum accuracy of the information they report. I noticed that the above account has been reported as a charge-off multiple times by the original creditor. A charge-off is a one-time event, and reporting it more than once is inaccurate and may violate the Fair Credit Reporting Act ( FCRA ), which requires information on credit reports to be accurate and not misleading. 

In addition to multiple charge-offs being reported, I also believe there may be other inaccuracies related to this account. The inaccuracies include reporting only 1 charge off on my XXXX in XX/XX/XXXX. You have reported over XXXX? charge offs on my XXXX since XX/XX/XXXX up until XX/XX/XXXX. And recently when I filed a report through the CFPB about the 1099C you refused to send me, you decided to report a charge off for the month of XX/XX/XXXX on my XXXX. My experian has a total of XXXX charge offs from Carmax Auto Finance. Moving into the month of XXXX I have been charged off again by this company which is bringing down my credit score. This company is marking my complaints as duplicate also This account has been charged off and closed since XX/XX/XXXX. 

1. Credit Reporting Standards : According to the Fair Credit Reporting Act ( FCRA ) and credit reporting guidelines, a creditor can report an account as charged off only once. After that, the account remains in charge-off status until it is resolved ( e.g., paid, settled, or transferred/sold to a collection agency ). 

2. Impact on Credit Reporting : If the original creditor reports multiple charge-offs on the same account, it could unfairly damage your credit score by making it appear as if multiple charge-offs occurred. This would be considered inaccurate reporting under the FCRA.

3. Possible Errors or Misinterpretations : Sometimes, creditors may update the charge-off status monthly ( e.g., Charge-Off - $ X Past Due ) until the account is resolved. While this can be legal, it is not the same as reporting new charge-offs each time. If it appears as multiple charge-offs on your credit report, it may be a reporting error. I am requesting that you investigate this matter and correct the inaccuracies on my credit report immediately. 

Please provide me with the following : 1. A detailed explanation of how the account is being reported, including the dates and statuses of each charge-off.

2. Verification of the accuracy of this account as it appears on my credit report.

3.Removal of any inaccuracies found during your investigation, including the removal of duplicate charge-offs or misleading information because this is illegal. Please conduct your investigation within the 15-day timeframe required by the FCRA and provide me with a written response detailing your findings. If you find that the information is inaccurate or unverifiable, I request that it be removed accordingly. Thank you for your attention to this matter.

Company response to consumer: Closed with explanation