Consumer complaint received 2025-03-17 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: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL

Complaint narrative:
I received a letter from BANK OF AMERICA dated XXXX XXXX XXXX, in response to my request for the removal of the inaccurate information you reported about my account. My original letter was received by you on XXXX, via Certified Mail # XXXX XXXX XXXX XXXX XXXX XXXX. However, after reviewing your response, I have noticed that you did not properly address the serious violations of the Fair Credit Reporting Act ( FCRA ) and other regulations I mentioned in my original letter. Let me reiterate and elaborate on the key points of my claim : Violation of the FCRA ( 15 U.S. Code 1681e ( b ) ) : Under this law, consumer reporting agencies must follow reasonable procedures to ensure that the information reported is as accurate as possible. In your response, you reported my account as charged off or cancelled, while simultaneously classifying it as a collection. This contradiction is not only logically inconsistent but also legally incorrect. Your BANK OF AMERICA failure to do so represents a direct violation of the FCRA. can not treat an account as both cancelled and collected at the same time, which constitutes a direct violation of the FCRA. 
Definition of " Charge-Off '' and Tax Obligations ( IRS ) XXXX According to the IRS and general credit reporting guidelines , a charged-off account means the debt is forgiven, which requires the issuance of a Form 1099-C since the debt is considered cancelled for tax purposes. As you BANK OF AMERICA have confirmed, this form has not been issued, further supporting the inaccuracy of the information reported. Attempting to collect on a cancelled debt not only violates tax regulations but can also be considered fraudulent. 
Inaccuracy of the Reported Information ( 15 U.S. Code 1681s-2 ( a ) ( 1 ) ( A ) ) : Under this law, any entity reporting information to consumer reporting agencies is required to ensure that the information it reports is accurate. In my previous letter, I informed you of the discrepancies and inaccuracies related to my account. You BANK OF AMERICA, as the furnisher of this information, are obligated to correct it once notified. Your BANK OF AMERICA failure to do so represents a direct violation of the FCRA.

Verification of Information Under 15 U.S. Code 1681i : According to 15 U.S. Code 1681i, you are required to conduct a full investigation of the disputed information when a consumer notifies a credit reporting agency that information in their file is inaccurate or incomplete. The process must follow these guidelines : 15 U.S. Code 1681i ( a ) ( 1 ) ( A ) : If the consumer notifies a reporting agency that information in their file is inaccurate, the agency must reasonably investigate that information.

15 U.S. Code 1681i ( a ) ( 2 ) : The investigation process must be completed within 30 days after the consumer 's notification. In my case, I demand that this investigation be thorough and prompt in order to correct the inaccurate information. 
15 U.S. Code 1681i ( a ) ( 4 ) : The reporting agency must provide verifiable evidence that the information they claim is accurate has been confirmed. If the information can not be verified, it must be deleted from my credit report.

15 U.S. Code 1681i ( a ) ( 5 ) : If it is determined that the information reported is inaccurate, the reporting agency has an obligation to correct and remove the erroneous information from the consumers credit reports.

I demand that, in accordance with 15 U.S. Code 1681i, you provide verifiable evidence that the information you are reporting as accurate has been investigated and confirmed as correct. This should include all documentation or clear evidence supporting the accuracy of the reported amounts and any other relevant details related to my account # XXXX. Furthermore, if you can not verify the accuracy of the information, I demand that it be immediately removed from all of my credit reports. 
Liability for Willful Noncompliance ( 15 U.S. Code 1681n ) : Under this provision, any willful noncompliance with the provisions of the FCRA may result in civil liability, including both actual and punitive damages, as well as legal costs if legal action is taken to enforce my rights under the FCRA. 
I demand the immediate removal of the inaccurate information related to my account # XXXX from all of my credit reports within the next 15 calendar days from the receipt of this letter. Additionally, I request that you provide complete verification and documentation that supports the accuracy of the information you are reporting as accurate. 
SEND ME MY FORM 1099-C that you should have sent when you filled the account as a canceled debt. 
My Address is listed below : XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX I want to make it clear that any response other than the confirmation of the removal of this inaccurate information and the verification of the reported data as accurate will result in taking action to enforce my rights under the FCRA and ensure that my credit history is handled in accordance with the law. ''

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