Consumer complaint received 2025-01-11 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: SYNCHRONY FINANCIAL
State: CA

Complaint narrative:
I am writing to formally request that the Consumer Financial Protection Bureau ( CFPB ) investigate XXXX XXXX for multiple violations of my consumer rights, particularly concerning inaccurate credit reporting, improper treatment of a charged-off debt, and failure to issue a XXXX form. 

Summary of Issues : XXXX. Improper Credit Reporting Despite my account being charged off, written off as a profit loss, and subsequently sold to a third-party collection agency, XXXX continues to inaccurately report the debt as a charge-off on my credit report. This is a clear violation of the Fair Credit Reporting Act ( FCRA ), specifically 15 U.S. Code 1681c ( FCRA Section 605 ( b ) ), which prohibits the reporting of a debt as a charge-off once the debt has been sold or transferred to another entity. The ongoing reporting of this inaccurate information is negatively impacting my credit score and is in direct violation of federal law. 
XXXX. Failure to Issue a XXXX Form In my attempts to resolve this matter, I called XXXX XXXX  and requested a XXXX form to reflect the charge-off of the debt as required by the Internal Revenue Code ( IRC ). I was informed that XXXX would not provide a XXXX until the debt was settled. However, the debt was written off as a profit loss and sold to a third-party collection agency, meaning the debt has been settled under the law, and XXXX is required to issue a XXXX under 26 U.S. Code 6050P. Their refusal to provide this form is a violation of my rights and prevents me from properly reporting the canceled debt for tax purposes. 
XXXX. Failure to Provide Proper Notice of Debt Sale XXXX has also failed to provide me with written notice of the sale or transfer of the debt to a third-party collection agency, as required by the Fair Debt Collection Practices Act ( FDCPA ), specifically 15 U.S. Code 1692g, and the Truth in Lending Act ( TILA ), particularly 15 U.S. Code 1635. This lack of notification has resulted in inaccurate reporting of the debt on my credit report and has hindered my ability to accurately track the status of the debt. 
XXXX. Disputed Information and Failure of XXXX to Correct the Record I attempted to dispute the inaccurate information on my credit report through XXXX, but they have continued to verify the information as accurate, despite clear evidence that the debt was sold and should no longer be reported as a charge-off by XXXX. This failure to correct the information violates my rights under the Fair Credit Reporting Act ( FCRA ), including 15 U.S. Code 1681i ( the right to dispute inaccurate information ) and 15 U.S. Code 1681e ( b ) ( the requirement to maintain accurate information ). 
XXXX. Statutory Damages As a result of XXXX improper actions, I have suffered significant damage to my credit report, which has led to harm in my ability to obtain credit, resulting in potential economic harm and emotional distress. I am seeking remedies for the statutory damages caused by these violations, which I believe include the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. 

Legal Violations Summary : Fair Credit Reporting Act ( FCRA ) : 15 U.S. Code 1681c, 1681e ( b ), 1681i Fair Debt Collection Practices Act ( FDCPA ) : 15 U.S. Code 1692c, 1692g Truth in Lending Act ( TILA ) : 15 U.S. Code 1635 Internal Revenue Code : 26 U.S. Code 6050P I respectfully request that the CFPB investigate these violations and assist in ensuring that XXXX XXXX  complies with all applicable federal regulations, including those related to accurate credit reporting, proper debt settlement procedures, and the issuance of necessary tax forms. 

Thank you for your attention to this matter. I am eager to resolve this issue and restore my credit report to its accurate and lawful status.

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