Consumer complaint received 2025-02-07 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: VA

Complaint narrative:
The CFPB has fined Equifax for not investing in accurate information when they investigate these disputes. I am not disputing the debt but the manner in which it is being reported. 
I am writing to dispute the following information that appears on my Equifax report such as XXXX XXXX account with account # XXXX opened on XX/XX/XXXX and a balance of {$390.00}. This account is incorrectly being reported as a charged off account with a balance due. Please provide proof of the charge off account with a balance the debtor did not provide a 1099-C for the charged off debt. It is reporting inaccurately on my report as a credit balance when in fact it became income when charged off debt. This account should be deleted immediately. 
XXXX XXXX Credit Card with account # XXXX opened on XX/XX/XXXX and a balance of {$2400.00}. This account is incorrectly being reported as a charged off account with a balance due. Please provide proof of the charge off account with a balance the debtor did not provide a 1099-C for the charged off debt. It is reporting inaccurately on my report as a credit balance when in fact it became income when charged off debt. This account should be deleted immediately. 
XXXX XXXX Credit Card with account # XXXX opened on XX/XX/XXXX and a balance of {$1900.00}. This account is incorrectly being reported as a charged off account with a balance due. Please provide proof of the charge off account with a balance the debtor did not provide a 1099-C for the charged off debt. It is reporting inaccurately on my report as a credit balance when in fact it became income when a charged off debt. This account should be deleted immediately. 
XXXX XXXX account with account # XXXX opened on XX/XX/XXXX and a balance of {$880.00}. This account is incorrectly being reported as a charged off account with a balance due. Please provide proof of the charge off account with a balance the debtor did not provide a 1099-C for the charged off debt. It is reporting inaccurately on my report as a credit balance when in fact it became income when charged off debt. This account should be deleted immediately.

According to 26 CFR 1.6050P-1, entities that discharge indebtedness must provide a statement to the debtor, typically in the form of a 1099-C, by XX/XX/XXXX of the year following the identifiable event. This requirement is crucial for accurate reporting to the IRS and for the debtor to understand their tax liabilities. As of today, I have not received a Form 1099-C or any substitute statement that complies with the current revenue procedures. This omission constitutes a violation of the information reporting requirements outlined in the aforementioned regulation. I kindly request that you provide me with a copy of the Form 1099-C for the discharged debt. Additionally, I would like to formally dispute the charge-off on my credit report until this matter is resolved. Please respond to this request within XXXX  days of receipt of this letter. If I do not receive a satisfactory response, I may need to escalate this matter to the appropriate regulatory authorities. Thank you for your attention to this important matter. I look forward to your prompt response. Please provide proof that these accounts are charged offs or past due accounts you are reporting both. A charge off should be reporting XXXX balance the debtor wrote the debt off as bad at that point it became income tax income. You cant report income on my credit report.

Company response to consumer: Closed with non-monetary relief