Consumer complaint received 2025-10-27 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: OneMain Finance Corporation
State: MI

Complaint narrative:
I am submitting this complaint against OneMain Financial Group, LLC for furnishing inaccurate and misleading information to the Consumer Reporting Agencies ( CRAs ) regarding my unsecured personal loan ( Account : XXXX ), and for issuing incorrect tax documentation that violates IRS reporting standards. 

I. Background and Factual Timeline Current Credit Reporting Status : As of XX/XX/XXXX, my credit report shows an Open unsecured personal loan account ( opened XX/XX/XXXX ) with the following details : Original Balance : {$9400.00} Current Balance : {$8700.00} ( 7 % paid off ) Past Due Amount : {$870.00} Contradictory Tax Documentation : Despite the account being an active, outstanding personal loan, OneMain Financial issued a Form 1099-B ( Proceeds From XXXX XXXX XXXX XXXX Transactions ) to me for the tax year XXXX. This document contains highly concerning and irrelevant figures : Proceeds/Cost Basis : {$160000.00} Description : " XXXX XXXX XXXX  ACCT NO XXXX '' Date Sold/Disposed : XX/XX/XXXX The Factual Inconsistency : The {$160000.00} reported on the 1099-B bears absolutely no financial relation to my {$9400.00} personal loan. The use of a 1099-B, typically reserved for investment sales, to describe a consumer loan activity, coupled with the massive and incorrect dollar amount, indicates a severe failure in OneMain 's tax and credit reporting systems. 

II. Legal Claims and Violations Claim 1 : Willful Violation of FCRA 1681s-2 ( a ) - Furnishing Misleading Information ( Systemic Inaccuracy ) OneMain Financial is violating its duty as a furnisher to report accurate information in two ways : Misleading Securitization Reporting ( Indirect FCRA Violation ) : By issuing a 1099-B for an account related to my SSN/TIN with a description like " XXXX XXXX XXXX ACCT NO XXXX '' and an astronomical dollar amount, OneMain has potentially conflated my individual personal loan account with a securitization trust asset. This indicates a catastrophic data management error where my personal information is being used in connection with the sale of corporate financial instruments.

FCRA Inaccuracy via Contradictory Tax Documents : A furnisher must report information that is not misleading. The issuance of a 1099-B, which suggests the underlying asset was " sold or disposed '' on XX/XX/XXXX, creates a facially inconsistent record with the current credit report that shows the consumer loan as an Open, actively delinquent liability with a full balance of {$8700.00} as of XX/XX/XXXX. This contradiction concerning the status and true legal ownership of the receivable makes the reported credit entry highly questionable and subject to dispute as inaccurate under the FCRA. 

Claim 2 : Potential Violation of FDCPA ( 15 U.S.C. 1692e ) - Deceptive Practices If the 1099-B is related to OneMain 's securitization activities ( where they sell loan receivables ), the use of a 1099-B to report an astronomical, non-existent transaction amount in conjunction with aggressively pursuing a delinquent {$8700.00} consumer debt could be construed as a deceptive or unfair practice designed to confuse or mislead the debtor regarding the true status or enforceability of the liability.

Company response to consumer: Closed with explanation