Consumer complaint received 2025-06-28 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: EQUIFAX, INC.
State: TX

Complaint narrative:
Dear Consumer Financial Protection Bureau, I am writing to formally file a complaint and dispute against XXXX  XXXX for inaccurate, misleading, and potentially unlawful reporting of an auto loan account to the major credit reporting agencies ( Experian, Equifax, and TransUnion ). This dispute is submitted in accordance with my rights under the Fair Credit Reporting Act ( FCRA ), the Fair Debt Collection Practices Act ( FDCPA ), and IRS tax regulations. 

Background and Details of the Dispute : Creditor : XXXX XXXX Account Number : XXXX Original Account Type : Auto Loan Date of Repossession : XX/XX/year> Current Reported Status : Charge-Off with Remaining Balance Credit Bureaus Affected : Equifax, Experian, TransUnion Following the repossession of my vehicle by XXXX  XXXX, the account was marked as a " charge-off ''. However, XXXX XXXX continues to report a remaining balance on the charged-off account without issuing a Form XXXX over 30 days, which is required by the IRS when a debt is canceled or forgiven. 

Key Legal and Regulatory Concerns : Failure to Issue Form XXXX ( Cancellation of Debt Income ) Under IRS regulations XXXX XXXX XXXX ), a creditor that cancels a debt of {$600.00} or more is required to file Form XXXX and provide a copy to the consumer. If the debt has truly been charged off or forgiven, XXXX XXXX has an obligation to report this as income to the IRS and to me as the debtor. I have not received a XXXX for the amount allegedly canceled. 

Misleading and Inaccurate Reporting Reporting an account as a charge-off while also showing a continuing balance and not pursuing further collection efforts ( or reporting to the IRS ) is misleading and potentially in violation of FCRA guidelines for accuracy and completeness. 

The dual representationthat the debt has been charged off ( suggesting no collection is expected ) while also stating that a balance is owedis contradictory and misleading to third-party lenders and credit scoring models.

Reputation and Credit Harm Due to this inaccurate reporting, my credit scores have been negatively affected across all three bureaus, resulting in denials of credit, increased interest rates, and significant distress. 

Relief Sought : I am requesting that the CFPB investigate this matter thoroughly and that the following actions be taken : Immediate removal of the inaccurate and misleading tradeline associated with this account from Equifax, Experian, and TransUnion, based on : Failure to provide a XXXX Contradictory and inaccurate reporting practices, possible FCRA violations Written confirmation from XXXX XXXX that : The debt was not forgiven, or If it was, they must issue a XXXX and cease reporting a balance I trust the CFPB will investigate this matter with the urgency and diligence it requires. I request to be kept informed of any findings and to be notified once this matter is resolved. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation