Consumer complaint received 2024-01-20 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: CarMax, Inc.
State: LA

Complaint narrative:
NOTICE TO AGENT IS NOTICE TO PRINCIPAL NOTICE TO PRINCIPAL IS NOTICE TO AGENT ACCT # XXXX  Carmax Auto Finance you are furnishing inaccurate and incorrect information to the consumer reporting agencies. 
The reporting of such inaccurate information has caused severe damage to my character, my reputation, my general mode of living and my ability to obtain credit for personal and house purposes. 

As defined by the IRS Even if you didnt receive a Form 1099-C, you must report canceled debt as a gross income on your tax return. 

The IRS clearly defines a charge off as Gross or Ordinary income, INCOME DOES NOT GET REPORTED ON THE CONSUMER REPORT which in fact makes your reporting of this account inaccurate! 

By Definition The IRS clearly says a Canceled debt or Charge off is Income. The reporting of this account as a debt is inaccurate. 

15 U.S. Code 1681s2 Says you Carmax Auto Finance are a furnisher of information to a consumer reporting agency. 

You ARE PROHIBITED BY LAW to furnish accurate information. I demand you to Cease and Desist the reporting of incorrect/in accurate information immediately. 

15 U.S. Code 1681s2 ( a ) ( 1 ) ( A ) A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. 
You are hereby put on NOTICE that you are furnishing incorrect inaccurate information. 

The lender must file Form 1099-C and send you a copy if the amount of debt canceled is {$600.00} or more and the lender is a financial institution, credit union , federal government agency, or other applicable entity as discussed earlier in chapter 1. 

The above paragraph is taken directly from the IRS 2021 publication. 

SEND ME FORM 1099-C that you should have sent when you Filed the account as a canceled debt. 

XXXX XXXX Acct # XXXX  XXXX XXXX  XXXX XXXX XXXX, LA XXXX 15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies ( a ) Duty of furnishers of information to provide accurate information ( 1 ) Prohibition ( B ) Reporting information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency if ( i ) the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate ; and ( ii ) the information is, in fact, inaccurate. 
Duty : a moral or legal obligation ; a responsibility. 
Accurate : correct in all details ; exact Prohibition : a law or regulation forbidding something. 

In conclusion I have shown you and you have been put on notice that you are reporting Inaccurate information. The information is, in fact, inaccurate. 

The continued reporting of this INACCURATE information is a clear violation of the Law 15 USC 1681 s-2 of your responsibilities as a furnisher of information. 

You have caused me and my family severe harm due to your negligence and INACCURATE reporting. This is a final opportunity to Cure and DELETE this Erroneous, inaccurate account from my Consumer report. 

15 U.S. Code 6802 ( a ) Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information, unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title. ( b ) ( 1 ) A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless ( A ) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option. 

THIS IS A VIOLATION OF MY CONSUMER RIGHTS DELETE THIS ACCOUNT FROM BEING FURNISHED ON MY CONSUMER REPORTS! 

YOU HAVE 10 CALENDAR DAYS TO DELETE THIS ACCOUNT FROM MY CONSUMER REPORTS!

Company response to consumer: Closed with explanation