Consumer complaint received 2025-04-16 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: Experian Information Solutions Inc.
State: WI

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX XXXX XXXX XXXX Subject : Formal Dispute Regarding Erroneous Credit Reporting of Charged-Off Credit Card Account as a Repossession Dear CFPB Officer, I am writing to formally file a complaint and dispute regarding a serious and unlawful entry on my credit report that pertains to the inaccurate reporting of a credit card account.

Upon recent review of my credit report, I discovered that one of my credit card accounts has been reported as a repossession and charged-off without any prior notification, due process, or issuance of a Form 1099-C as required by law. I would like to stress that this account is not an automobile loan, nor is it related to any secured property that could be repossessed. It is a standard unsecured credit card, and thus, the designation as a repossession is factually and legally inaccurate.

This reporting is not only misleading and damaging to my credit profile, but also potentially violates multiple federal consumer protection laws, including : 1. Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq.

Under 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ), furnishers of information have a duty to report information accurately. Reporting a credit card as a repossession constitutes a gross misrepresentation of the nature of the account. The FCRA also imposes obligations under 1681i ( a ) on credit reporting agencies to investigate disputes and correct inaccuracies.

2. Fair Debt Collection Practices Act ( FDCPA ), 15 U.S.C. 1692 et seq.

If this inaccurate reporting was facilitated or initiated by a third-party debt collector, it may also violate provisions under the FDCPA, including 1692e, which prohibits the use of any false, deceptive, or misleading representation in connection with the collection of any debt.

3. IRS Code Section 6050P & Form 1099-C Requirements According to 26 U.S.C. 6050P, lenders are required to issue a Form 1099-C for cancellation of debt exceeding {$600.00}. If the account was in fact charged off or forgiven, I should have been issued a 1099-C. The failure to do so indicates a possible breach of federal tax reporting obligations and suggests the debt may not have been properly cancelled or discharged. 

XXXX. Relevant Case XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : This case emphasizes the responsibility of credit reporting agencies to maintain reasonable procedures to assure maximum possible accuracy. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Furnishers of information and CRAs must conduct a meaningful investigation upon receipt of a dispute. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) : Furnishers may be held liable for failing to conduct a reasonable investigation under FCRA 1681s-2 ( b ). 

This misreporting has caused significant damage to my creditworthiness, and I am formally requesting the following immediate actions : 1. A full investigation into the credit card account reported as a repossession.

2. Immediate correction of the inaccurate information and removal of the repossession remark. 
XXXX. Confirmation that the account is not being misrepresented or illegally reported as a repossession. 
XXXX. A thorough review to determine whether a XXXX was required and why it was not issued, if applicable. 
XXXX. Appropriate enforcement actions and penalties for any violations discovered. 

I have attached a copy of my credit report highlighting the disputed item along with supporting documentation. I respectfully request that this matter be investigated urgently and that I receive a full written response within the timeline prescribed by the FCRA. 

If this matter is not resolved promptly and in compliance with the applicable laws, I am prepared to pursue further legal remedies through the Federal Trade Commission and the appropriate courts of law. 

Thank you for your attention to this serious matter. 

Sincerely, XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation