Consumer complaint received 2025-11-13 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: World Acceptance Corporation
State: IL

Complaint narrative:
Subject : Formal FCRA Response and Demand for Deletion Continued Noncompliance Following Inadequate Investigation Consumer : XXXX XXXX Account : World Finance / Account No. XXXX XXXX. PURPOSE OF THIS NOTICE This communication serves as a formal legal response to World Finances XX/XX/XXXX correspondence via the CFPB Portal. The companys admission that it has now requested updates to the tradeline, after three prior CFPB complaints and disputes, constitutes acknowledgment of prior inaccuracy and failure to comply with the Fair Credit Reporting Act ( FCRA ). 

Under FCRA 607 ( b ), 611 ( a ), and 623 ( a ), a furnisher or CRA that fails to conduct a timely, good-faith reinvestigation after initial notice of dispute ( XXXX, via CFPB ) is in continuing violation of the Act. Subsequent updates can not cure or retroactively validate data that was previously reported inaccurately and repeatedly disputed. 

II. FAILURE TO CONDUCT A LAWFUL REINVESTIGATION World Finances own response admits : The payment history details do need updated. World has submitted a request to the Agencies to make the updates.

This statement confirms that the initial and subsequent reinvestigations ( XXXX and XXXX ) were not reasonable, as required by FCRA XXXX ( b ) ( XXXX ) ( A ) - ( XXXX ) and XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX XXXX. XXXX ). When a furnisher is notified of a dispute and the result is inaccurate data remaining on file, it constitutes willful noncompliance under FCRA 616. 

A post hoc update months after the fact is not an FCRA-compliant reinvestigation. The obligation to investigate arises immediately upon receipt of the first dispute, not after multiple CFPB interventions. 

Therefore, the continued reporting of this account constitutes an unlawful continuation of inaccurate information under FCRA 623 ( a ) ( 1 ) ( A ) and 623 ( b ) ( 1 ) ( D ).

XXXX. UNVERIFIABLE AND DEFUNCT ACCOUNT STATUS World Finance explicitly states : World ultimately sold XXXX XXXX account to XXXX XXXX XXXX XXXX XXXX on XX/XX/XXXX. 

Once an account has been charged off and sold, the original creditor no longer maintains ownership or verifiable records sufficient to validate the tradeline. Under FCRA 611 ( a ) ( 5 ) ( A ), any information that can not be verified must be deleted from the consumers credit file.

Furthermore, XXXX XXXX XXXX has deleted its own tradeline and confirmed it no longer handles or verifies the accountthus there is no remaining furnisher capable of lawful verification. This renders the World Finance tradeline unverifiable as a matter of law. 

Under XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX XXXX. XXXX ), when no current furnisher can verify the data, the CRA must delete the entry, not amend or update it. 

IV. LACK OF 1099-C ISSUANCE CONFIRMS ACCOUNT TERMINATION If World Finance indeed charged off and sold the debt, a Form 1099-C ( Cancellation of Debt ) should have been issued under 26 U.S.C. 6050P. The absence of such documentation further indicates that World Finance did not complete proper charge-off accounting procedures and is therefore furnishing incomplete, misleading, and unverifiable information in violation of FCRA 607 ( b ).

V. DEMAND FOR PERMANENT DELETION Given that : World Finance failed to perform a timely, reasonable reinvestigation after multiple notices ; The account has been charged off and sold, rendering it unverifiable ; XXXX XXXX XXXX has confirmed deletion of their associated tradeline ; and World Finance admits its prior reporting was inaccurate and requires updates, the tradeline is no longer lawfully reportable under the Fair Credit Reporting Act. 

Pursuant to FCRA 611 ( a ) ( 5 ) ( A ) and 623 ( b ), I hereby demand immediate and permanent deletion of the World Finance tradeline from all consumer credit files maintained by XXXX, XXXX, and XXXX.

Failure to comply within 15 days will constitute willful and negligent noncompliance under FCRA 616617, subjecting World Finance to civil liability for actual, statutory, and punitive damages, in addition to attorneys fees. 

VI. CONCLUSION World Finances acknowledgment of errors and delayed corrective action is a tacit admission of noncompliance. Updating inaccurate information after multiple CFPB disputes does not satisfy FCRA obligationsdeletion is the only lawful remedy.

I expect written confirmation of complete deletion from all bureaus within 15 calendar days of receipt of this notice. 

Respectfully, XXXX XXXX

Company response to consumer: Closed with explanation