Consumer complaint received 2024-12-26 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: OPORTUN FINANCIAL CORPORATION
State: TX

Complaint narrative:
I am filing this formal complaint regarding the inaccurate and misleading reporting of an account with Oportun XXXX ( OPORTUNPROG ) on my credit reports through XXXX, XXXX, and XXXX. The account information, as currently reported, contains numerous inaccuracies and violates multiple federal laws under the Fair Credit Reporting Act ( FCRA ), Fair Debt Collection Practices Act ( FDCPA ), and other applicable statutes. 

Below is a detailed list of the violations, inaccuracies, and my specific demands for corrective action. 

Account Details : Creditor Name : Oportun XXXX. 
Account Type : Installment Loan ( Unsecured ) Account Status : Derogatory/Charge Off Balance : {$0.00} Reported Monthly Payment : {$0.00} Comments : " Purchased by another lender, '' " Unpaid balance reported as a loss by credit grantor, '' " Sold to XXXX. '' Inaccuracies in Reporting and Legal Violations : 1. Payment History Inconsistencies Across Bureaus : XXXX reflects " OK '' payment statuses for XXXX and XXXX, while XXXX and XXXX report " CO '' ( Charge Off ) statuses consistently. This discrepancy constitutes a failure to report accurate and consistent information across credit bureaus, violating : 15 U.S.C. 1681e ( b ) : Duty to ensure maximum possible accuracy. 
15 U.S.C. 1681s-2 ( b ) : Duty to correct and update inaccurate information after a dispute. 
2. Improper Charge-Off Reporting Post-Sale : The account was sold to a third party ( XXXX ), as indicated in the comments section. Once sold, the original creditor ( Oportun XXXX ) is required to cease updating the account with " CO '' statuses. Charge-offs are a one-time event and should not be repeatedly reported post-sale. Continuously updating " CO '' monthly damages my credit score and violates : 15 U.S.C. 1681e ( b ) : Misleading and inaccurate reporting. 
15 U.S.C. 1681s-2 ( a ) ( 1 ) ( B ) : Furnishers must not provide information they know or have reason to know is inaccurate. 
3. Inconsistent Reporting of the " Date of Last Payment '' : The " Date of Last Payment '' is listed as XX/XX/XXXX, yet all months preceding and following this date are marked " XXXX '' This inconsistency reflects a failure to accurately account for payments and violates : 15 U.S.C. 1681e ( b ) : Inaccurate historical payment activity. 
XXXX. Violation of Double Reporting Prohibition : The comments state the account was sold to a third party ( XXXX ). If XXXX is reporting this account as well, it constitutes double reporting of the same debt. This creates confusion and amplifies the derogatory impact on my credit profile, violating : 15 U.S.C. 1681e ( b ) : Ensuring accurate representation of debt obligations. 
15 U.S.C. 1681s-2 ( a ) : Prohibiting misleading or duplicate reporting.

5. Failure to Issue a Form 1099-C for Charge-Off : The original creditor is required to issue a Form 1099-C for cancellation of debt over {$600.00}, per IRS guidelines. If no 1099-C was issued for this account, the reporting of a {$0.00} balance is legally questionable and may violate federal tax reporting requirements. 

Specific Legal Violations by Oportun XXXX : Fair Credit Reporting Act ( FCRA ) : 15 U.S.C. 1681e ( b ) : Failure to ensure maximum accuracy of credit report information. 
15 U.S.C. 1681s-2 ( a ) : Prohibition against furnishing inaccurate or misleading information.

15 U.S.C. 1681s-2 ( b ) : Failure to conduct proper investigations and update or correct inaccurate information after disputes. 

Fair Debt Collection Practices Act ( FDCPA ) : 15 U.S.C. 1692e ( 2 ) : Misrepresentation of the character, amount, or legal status of a debt.

15 U.S.C. 1692e ( 8 ) : Communicating false credit information, including the failure to communicate that a debt is disputed. 

IRS Guidelines on 1099-C Reporting : Cancellation of debt over {$600.00} must be reported on Form 1099-C. Failing to do so raises questions about the legitimacy of the " Charge-Off '' designation and {$0.00} balance reporting. 
Demands for Immediate Action : 1. Immediate Deletion of the Tradeline : I demand the removal of this account from all credit reporting agencies ( XXXX, XXXX, XXXX ) due to its numerous inaccuracies, inconsistencies, and violations of federal laws. I am not requesting validation, as this account has already been falsely verified without sufficient documentation ( e.g., no signed contract or agreement provided ). 

XXXX. Cease Reporting Inaccurate Payment History : The repeated " CO '' statuses post-sale and contradictory " OK '' statuses must be corrected or removed entirely. 

XXXX. Confirmation of Single Reporting : If the debt purchaser ( XXXX XXXX is reporting this account separately, I request confirmation that Oportun XXXX ceases to report it, as this constitutes double reporting. 

Failure to Comply and Legal Action : If this request is not met within 30 days, I will pursue legal action, including but not limited to : Filing a complaint with the Consumer Financial Protection Bureau ( CFPB ). 
Filing a complaint with the Federal Trade Commission ( FTC ). 
Initiating a lawsuit for violations of the FCRA and FDCPA, seeking statutory, punitive, and compensatory damages.

Company response to consumer: Closed with explanation