Consumer complaint received 2024-03-13 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: AMERICAN EXPRESS COMPANY
State: NY

Complaint narrative:
AMERICAN EXPRESS COMPANY is in violation of multiple laws set forth by Congress in regards to the following account number XXXX. 15 U.S Code 1681a ( 20 ( a ) ( i ) states that the consumer report does NOT include information solely as to transactions or experiences ( Payment history, charge off status ) between the consumer ( myself ) and the person ( AMERICAN EXPRESS COMPANY ) making the report. Additionally, 15 U.S Code 1681 s-2 ( a ) ( 1 ) ( A ) States that a person ( AMERICAN EXPRESS COMPANY ) shall NOT furnish any information relating to a consumer ( ME ) to any reporting AGENCY ( XXXX XXXX XXXX XXXX XXXX XXXX  ) if the person ( AMERICAN EXPPRESS COMPANY ) knows or has reasonanble cause to believe that the information is inaccurate. AMERICAN EXPRESS COMPANY can NOT collect on a DISCHARGED DEBT. This is NOW considered a certificate of indebtedness per the IRS and INCOME can NOT be reported on consumer 's report.

The IRS clearly states and defined a charge off as Gross or Ordinary INCOME. INCOME DOES NOT GET REPORTED ON A CONSUMER REPORT, which in FACT makes reporting of this account INACCURATE, INCORRECT AND FALSE.

By definition, the IRS clearly says a Cancelled Debt or Charged Off is INCOME.

The reporting of this account as a debt is INACCURATE. I NEVER recieved any 1099-C from AMERICAN EXPRESS COMPANY for the cancelled debt of {$10000.00} that is reported as a charged off in order to file as ordinary INCOME.. Where is the 1099-c AMERICAN EXPRESS COMPANY has clearly written off on their PROFIT AND LOSS as debt with the IRS, without sending out a 1099-C as required by the IRS for debts greatrer than {$600.00}.

This is UNSATISFACTORY!!!!, AMERICAN EXPRESS COMPANY has been HEREBY PLACED ON NOTICE, that they are furnishing incorrect, inaccurate information. In AMERICAN EXPRESS COMPANY, terms and condition they agreed to NOT share my information with NON AFFLILIATES.. XXXX XXXX XXXX XXXX, XXXX XXXX are NOT AFFLILIATES of AMERICAN EXPRESS COMPANY nor are they ''BUREAUS ''.

The only true CREDIT BUREAU is the CFPB and they DO NOT furnish consumer report as stated in federal law.

I have the right to privacy and as per the PRIVACY ACT OF 1974 as a federally protected consumer I am now revoking any and all autorizatiion I the consumer may have given you written or non written, verbal or non verbal per 5 US code 552a. Per the FRCA as a federally protected consumer I am now opting out of any and all authorization I the consumer may have given you, written, non written, verbal or non verbal, per 15 US code 6802.

I shall also point out their responsibility pursuant to 15 US Code section 1681s-2 ( a ) ( 1 ) ( B ) ( ii ) : ( a ) DUTY OF THE FURNISHERS OF INFORMATION TO PROVIDE ACCURATE INFORMATION ( 1 ) PROHIBITION ( B ) Reporting information after notice and confirmatiom of errors, A person shall NOT FURNISH information relating to a consumer to any consumer reporting AGENCY, if ( i ) the person has been notified by the consumer, at the address specified by the person of such notices, that the specific information is INACCURATE ; and ( ii ) the information is, in fact, inaccurate.

AMERICAN EXPRESS COMPANY must also refund the remaining balance of the consumer account upon its termination. This is your XXXX  days notice to returnn ALL monies due from this consumer account.
1026.11 Treatment of credit balances ; account termination ( a ) Credit Balance. When a credit balance in excess of {$1.00} is created on a credit account though transmittal of fund to a creditor in excess of the total balance due on an account, through transmittal of funds to a creditorin excess of the total balance dueon an account, through rebates of unearned finance charges or insurance premiums, or through amounts otherwise owed to or held for the benfits of the consumer, the creditor shall : ( 1 ) credit the amount of the credit balance to the consumer 's account ; ( 2 ) Refund any part of the remaining credit balance within ( 7 ) seven business days from the reciept of a written request from the consumer, ( 3 ) Make a good faith effort to refund to the consumer by cash, check, money order, or credit to a deposit account of the consumer, any part of the credit balance remaining in the account for more than XXXX months. 
No further action is required if the consumer 's current location is not known to the credit and can not be traced through the consumer 's last known address or telephone number. ( B ) Account termination ( 1 ) A creditor shall not terminate an account prior to its expiration date solely because the consumer does not incur a finance charge, ( 2 ) Nothing in paragraph ( b ) ( 1 ) of this section prohibits a creditor from terminating an account that is inactive for three or more consecutive months. An account is inactive for purposes of this paragraph if no credit has been extended ( such as purchases, cash advance or balance transfer ) and if the account has NO outstanding balance. ( c ) Timely settlement of estate debts ( 1 ) General rule ( i ) Reasonable polices and procedures requires. For credit card account under an open ended ( not home secured ) consumer credit plan, card issuers must adopt reasonable written policies and procedures designed to ensure that an administrator of an estate of a deceased account holder can determine the amount of and pay balance on the account in a timely manner. ( ii ) Application to a joint account. Paragraph ( c ) of this section does not apply to the account of a deceased consumer if a joint accountholder remains on the account ( 2 ) Timely statements of balance ( i ) Requirement. Upon request by the administrator of an estate, a card issuer must provide the administrator with the amount of the balance on a deceased consumer 's account in a timely manner. ( ii ) Safe Harbor. For the purposed of paragraph ( c ) ( 2 ) ( i ) of this section, providing the amount of the balance on the account within 30 days of the receiving the request is deemed to be timely. ( 3 ) Limitatins after receipt of request from administrator ( i ) Limitation on fees and increases in annual percentage rates. After receiving a request from the administrator of an estate for the amount of the balance on a deceased consumer 's account, a card issuer must not impose any fees on the account ( such as late fess, annual fees or over the limit fee ) or increase any annual percentage rate, except as provided by 1026,55 ( b ) ( 2 ). ( ii ) Limitation on trailing or residual interest. A card issuer must waive or rebate any additional finance charges due to a periodic interest rate if payment in full of the balance disclosed pursuant to paragraph ( c ) ( 2 ) of this section is received within 30 days after disclosure..

1006.26 collection of timebarred debt ( a ) ( 1 ) Statute of limitations means the period prescribed by applicable law from bringing a legal action against a consumer to collect a debt ( 2 ) Timebarred debt means a debt for which the applicable statute of limitation has expired ( b ) Legal actions and threats of legal action PROHIBITED. A debt collector must NOT bring OR THREATEN to bring a legal action against a consumer to collect a timebarred debt. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX establishes a XXXX  year statute of limitaion on consumer debt, therefore any credit card debt is timebarred and UNCOLLECTABLE after XXXX  years of no contact.

Company response to consumer: Closed with explanation