Consumer complaint received 2024-11-20 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc.
State: NY

Complaint narrative:
Dispute of Debt and Request for Immediate Removal from Credit Report XXXX  XXXX Account Nos. : XXXX, XXXX  XXXX XXXX Dear Sir/Madam, I am writing to formally dispute the accuracy of the information being reported for the following accounts on my credit report : 1. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I have identified discrepancies in the reporting of these debts, which I believe are in violation of my rights under the Fair Debt Collection Practices Act ( FDCPA ), the **Fair Credit Reporting Act ( FCRA ) **, applicable **IRS regulations regarding canceled debt**, and various **privacy laws** that govern the handling of my personal information. I request that you investigate these accounts immediately and take corrective action. 1. Violation of the Fair Debt Collection Practices Act ( FDCPA ) ** Under the **FDCPA**, debt collectors and furnishers of information ( such as XXXX  XXXX ) must adhere to specific standards in reporting debts and handling disputes. I assert that both accounts have been inaccurately reported, and I demand that you investigate and correct this. 15 U.S.C. 1692g ( Validation of Debts ) : Upon receiving a dispute, XXXX XXXX is required to provide written verification of the debt within five days of their initial communication. If they fail to do so, they are prohibited from continuing to report these debts until proper validation is provided. - 15 U.S.C. 1692e ( False or Misleading Representations ) : Reporting these debts as " charged-off '' without proper validation constitutes deceptive practices and violates **15 U.S.C. 1692e ( 8 ), which prohibits false or misleading representations regarding the debts. 2. Violation of the Fair Credit Reporting Act ( FCRA ) ** The FCRA** mandates that all information reported to credit bureaus must be accurate** and **complete. These accounts have been inaccurately reported, violating several provisions of the **FCRA**. - 15 U.S.C. 1681s-2 ( a ) ( Duty of Furnishers of Information ) : XXXX  XXXX is required to report only **accurate** information. Reporting these debts as charged-off without proper documentation is inaccurate and misleading. - 15 U.S.C. 1681s-2 ( b ) ( Duty to Investigate Disputed Information ) : When a dispute is made, XXXX XXXX must conduct a reasonable investigation into the accuracy of the information. Their failure to properly investigate and resolve inaccuracies is a violation of 15 U.S.C. 1681s-2 ( b ). 3. IRS Tax Compliance Canceled Debt and 1099-C Reporting According to IRS regulations XXXX when a debt is canceled or forgiven, the creditor is required to issue a 1099-C form to reflect the canceled debt as taxable income to the debtor. - 26 U.S.C. 6050P ( Information Reporting of Canceled Debt ) : If the debt has been charged off, XXXX  XXXX must issue a 1099-C* form, reflecting the canceled debt. This failure to issue the 1099-C form prevents me from complying with my tax obligations. - IRS Publication 4681 : This publication confirms that when a creditor cancels or forgives a debt of {$600.00} or more, they are required to issue a 1099-C form. The absence of this form further suggests the reporting of these accounts may be inaccurate. 4. Violation of Privacy Laws As a creditor and data furnisher, XXXX XXXX must comply with privacy regulations that protect the security of personal and financial information. Inaccurate reporting of debts, without validation, could violate several privacy laws. Right to Financial Privacy Act ( 12 U.S.C. 3401 ) : This law ensures that personal financial information is not disclosed or misused by entities without a consumer 's consent. Misreporting debts as charged-off without validation may constitute a violation of my privacy rights under this law. - XXXX XXXX ( XXXX ) : Under this law ( 15 U.S.C. 6801 ), XXXX XXXX must protect sensitive consumer financial information. If the debt has not been properly validated or reported, it may indicate that my private financial information has been mishandled. 5. Opt-In and Opt-Out Reporting Rules under FCRA The FCRA establishes rules regarding opt-in and opt-out reporting, which govern how information is reported on a consumer 's credit report. - Opt-In Reporting : Under the FCRA, a consumer must opt-in before certain information, such as a charged-off debt, is reported to the credit bureaus. If XXXX XXXX reported these accounts without my consent under the opt-in provision, it constitutes a violation of FCRA 1681b. - Opt-Out Reporting : If I have previously opted out of certain reporting, the **FCRA** mandates that you cease reporting these debts. Reporting these debts after I exercised my opt-out rights violates XXXX XXXX ( d ) ** and **FCRA 1681e ( b ) **, which require accurate reporting of only permissible data. 6. Request for Immediate Action Given the violations outlined above, I request that the following actions be taken immediately : 1. Investigation and removal of the above-referenced XXXX XXXX accounts from my credit report with all credit bureaus ( XXXX, Experian, and XXXX ) XXXX These accounts have been reported inaccurately and in violation of the FDCPA, FCRA, and privacy laws. 2. Issuance of the required 1099-C form by XXXX XXXX, if applicable, for the canceled or charged-off debt in accordance with IRS Publication 4681 and 26 U.S.C. 6050P. This will allow me to remain compliant with tax laws and avoid potential penalties. 3. Confirmation of my opt-out status, if applicable, and immediate cessation of reporting these debts in violation of my rights under the FCRAs opt-in/opt-out provisions. 4. Written confirmation from you that these accounts have been deleted from my credit reports and that the required 1099-C form has been issued, if applicable. If these actions are not completed within **30 days** of receipt of this letter, I will pursue all legal avenues available, including filing complaints with the **Federal Trade Commission ( FTC ) **, the **Internal Revenue Service ( IRS ) **, and initiating legal action for violations of the **FDCPA**, **FCRA**, and privacy laws governing the handling of personal information. Please treat this letter as a formal demand to correct these issues, and I expect a prompt response confirming that my requests have been addressed. 
BY : /s/ XXXX XXXX UCC 1-308 Without Recourse

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 non-monetary relief