Consumer complaint received 2024-08-09 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Incorrect information on your report — Account status incorrect
Company: Synovus Bank
State: FL

Complaint narrative:
XXXX XXXX. : XXXX your company did not address any FDCPA and FCRA violations nor the inaccurate information your company is reporting.

VIOLATIONS reporting transactions and experience violates 15 usc 1681a ( 2 ) I did not get the three disclosures that required by federal law violates before you can furnish items on my credit report the GrammLeachBliley Act 15 usc 6801-6803 You sold my non personal information to a third party as stated in your response violation 15 U.S. Code 1681s3 - Affiliate sharing Not reporting correctly violates 15 usc 1681 s-2 Continuing to attempting to collect on a charge off after you gave up your legal rights through the charge off process and sold the accounts violates tax regulations Your notice and disclosures has to be aligned with the FCRA 15 usc 1681 congressional finding and statement of purpose ACCURACY AND FAIRNESS OF CREDIT REPORTING The Congress makes the following findings : ( 1 ) The banking system is dependent upon fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system.

.Except as provided in paragraph ( 3 ), the term consumer report does not include 15 usc 1681a ( 2 ) definition rules of construction 2 ) EXCLUSIONS ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ; The above law states that my consumer report does not include TRANSACTION OR EXPERIENCES between me the consumer and you the person making the report. That also makes furnishing this account inaccurate and incorrect information to the consumer reporting agencies. 

15 usc 1681 s-2 Responsibilities of furnishers of information to consumer reporting agencies a ) DUTY OF FURNISHERS OF INFORMATION TO PROVIDE ACCURATE INFORMATION ( 1 ) PROHIBITION A ) Reporting information with actual knowledge of errors 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 the information is inaccurate. 

Duty A moral or legal obligation ; responsibility. 

Accurate Correct in all details ; exact. 

Prohibition A law or regulation forbids something. 

As defined by the IRS to address your 1099-c claims the IRS CLEARLY STATES Even if you did not receive a form 1099-c, you must report canceled debt as gross ordinary income on your tax return. That means the debt is still canceled once it goes into a charge off status. The IRS clearly defines a charge off as gross ordinary income. INCOME DOESN'T GET REPORTED ON YOUR CONSUMER REPORT which in fact makes your reporting of this account inaccurate. 
By definition the IRS clearly says a cancellation or charge off is income. The reporting of this account as debt is inaccurate.

Schedule 1 ( Form 1040 ), line 8c, if the debt is a nonbusiness debt ; Code GDecision or policy to discontinue collection. Code G is used to identify cancellation of debt as a result of a decision or a defined policy of the creditor to discontinue collection activity and cancel the debt. For pur- poses of this identifiable event, a defined policy includes both a written policy and the creditor 's established business practice. 

The above explains the many reasons a charge off can accrue by a company. Decision or policy to discontinue collection. This charge off falls under tax regulation Code G identify cancellation of debt as a result of a decision or defined policy of the creditor that means your company decided to give up collecting this debt once a charge off process happens and I the consumer no longer need to pay. 

This is unsatisfactory! your company is HEREBY PUT ON NOTICE that you are furnishing incorrect inaccurate information. In terms and conditions you agreed not to share my information with non affiliates

Company response to consumer: Closed with explanation