Consumer complaint received 2025-02-03 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: GOLDMAN SACHS BANK USA
State: GA

Complaint narrative:
Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX XX/XX/XXXXXXXX, IA XXXX Subject : Apple Aggressive Dispute of Charge-Off Account with Goldman Sachs Bank USA ( Apple Card ) - Request for Immediate Deletion I am writing to formally dispute the charge-off account with APPLE CARD/GS BANK USA Credit Card , Account XXXX XXXX XXXX XXXX, and demand immediate deletion of the account from my credit report. Despite the Banks response, I find their validation of this charge-off not only incomplete and misleading but also illegal under federal law. 

The Banks attempt to validate this charge-off, along with their assertion that they are not obligated to cancel the debt or issue a XXXX form, raises significant legal violations, which I am outlining below. I am demanding that the charge-off be deleted immediately, and I am requesting your immediate intervention in ensuring compliance with the law. 

Conflicting Information and Legal Violations 1. Failure to Issue 1099-C ( IRS Requirement ) According to IRS Publication 4681 and 26 U.S. Code 6050P, creditors are required to issue a 1099-C form when they cancel or forgive a debt of {$600.00} or more.

APPLE CARD/GS BANK USA Credit Card has confirmed that no 1099-C was issued for this account, despite the fact that the account was charged off on XX/XX/2023. This indicates that the debt has not been properly canceled, which raises concerns about the accuracy of their reporting and the legality of this debt. 
By failing to issue the required 1099-C, APPLE CARD/GS BANK USA Credit Card is violating IRS regulations and has failed to take the proper steps to cancel the debt.

2. FCRA Violation - Failure to Investigate and Correct Reporting ( 15 U.S. Code 1681i ) Under the Fair Credit Reporting Act ( FCRA ), 15 U.S. Code 1681i ( a ), I am entitled to have inaccurate or unverifiable information investigated and removed from my credit report. APPLE CARD/GS BANK USA Credit Card claims they have validated the debt, but they have failed to provide sufficient documentation or proof of its legitimacy, including : The original contract or agreement showing the terms of the debt. 
Proof that the debt is accurately calculated or even legally owed at the reported amount of {$2800.00}. 
No 1099-C form has been issued to confirm the cancellation of the debt, which leaves the charge-off status in question.

The inadequate documentation and failure to properly investigate the dispute make their claim of validation irrelevant under the FCRA. The charge-off must be deleted as unverified and incomplete.

3. FDCPA Violation - Misrepresentation of Debt ( 15 U.S. Code 1692e ) APPLE CARD/GS BANK USA Credit Card claims that the debt is valid and the customer is liable for the balance of {$2800.00}. However, they failed to provide verification of this balance, and have not issued a 1099-C for the canceled debt. This constitutes a misrepresentation of the debt under 15 U.S. Code 1692e of the Fair Debt Collection Practices Act ( FDCPA ).

Their response contains incomplete and misleading information about the nature of the charge-off, which has now been reported as accurate on my credit report without proper verification of the balance.

4. FCRA Section 1681s-2 ( b ) - Duties of Furnishers of Information Goldman Sachs failed to adequately investigate my dispute and provide proper documentation that the charge-off is valid. Under 15 U.S. Code 1681s-2 ( b ), furnishers of information ( like Goldman Sachs ) are required to investigate disputes and provide clear, verifiable evidence of any debt they report. They have not done so and have failed to meet the necessary burden of proof required under the law.

5. Failure to Comply with IRS and Consumer Protection Laws The failure to issue the 1099-C form and to properly report the debt violates both IRS tax reporting regulations and consumer protection laws under the FCRA. They can not continue to report this debt if they have not followed through with the required tax documentation and investigation.

Request for Immediate Action : Based on the clear violations of federal law, I demand that : 1. This charge-off be immediately removed from my credit report due to insufficient validation, failure to issue IRS Form 1099-C, and misrepresentation of the debt.

2. APPLE CARD/GS BANK USA Credit Card be held accountable for their failure to comply with the FCRA, FDCPA, and IRS regulations XXXX and that the charge-off be deleted for legal noncompliance. 
3. I request a full investigation into whether this charge-off was properly reported and legally substantiated, and if it can not be verified, that it is immediately removed.

Failure to Act : If APPLE CARD/GS BANK USA Credit Card fails to address this issue in compliance with federal law, I will escalate this dispute and pursue legal action through the Federal Trade Commission XXXX FTC ), State Attorney General, and private legal channels. 

Please take immediate action to ensure this matter is resolved, and notify me of the outcome within 30 days as required by law. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with non-monetary relief