Consumer complaint received 2025-01-31 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with a company's investigation into an existing problem — Problem with personal statement of dispute
Company: Eagle Financial Services, Inc.
State: OH

Complaint narrative:
Initial request MEMORANDUM FOR RECORD. Settled Charge off Account without an issuance of a 1099c on the accounts listed below. This isa follow-up to the letter I received about the charge off account number that I never received a 1099c Account The account was settled and XXXX was written off. This account was changed from a receivable to a loss in Eagle Loan accounting books. XXXX XXXX XXXX had to report this loss to the IRS to receive a tax credit. The definition of a charge off is : The Creditor ( Eagle Loan ) changes the account from a receivable account to a lost in XXXX  XXXX accounting books. This loss has to be reported to the IRS in Eagle Loan Corporate Tax return to receive a tax credit for the loss. The IRS Definition of an 1099c is used to declare amounts of {$600.00} or more that is forgiven or canceled by a lender or creditor, including the abandonment of secured property or a foreclosure. There is a reference guide used that describe the detail of the 1099c A. ( Bankruptcy ) B. Other Judicial Debt relief } XXXX ( Statute of limitation or expiration of deficiency ) D. ( Foreclosure Election ) E. ( Debt Relief from probate or similar Proceeding ) F. ( By Agreement ) G. ( Decision or policy to discontinue collection ) This triggered an issuing of a 1099c to the I RS and to the Debtor I have not received a 1099c to apply to my income tax as income, as income as well should not be on a credit report and your organization is reporting that to the credit bureaus which is a violation of the FCRA. Furthermore. I also verified with the IRS if I have any 1099XXXX that was issued to XXXX XXXX and the IRS said I have no 1099c that has been reported to the IRS. I have not received any 1099c from Eagle Loan which brings into question why I have not received a 1099c on this charge-off account?

Company 's response Thank you for forwarding XXXX XXXX XXXX complaint to us. We take every customer complaint seriously and work hard to resolve all complaints as soon as possible. XXXX XXXX XXXX states that she has loan number XXXX with us, that the account charged off, and that {$1500.00} was written off. She further states that the account was settled. This is incorrect. The account was not settled, and she still owes a large balance on the account, which we expect to be repaid. XXXX XXXX XXXX borrowed money from us and closed her loan at our XXXX, OH branch on XX/XX/XXXX. She signed a promissory note at closing pursuant to which she was to pay the loan back in 17 monthly installments, with the first installment due XX/XX/XXXX, and the last payment due on XX/XX/XXXX. She immediately got behind on her loan, and did not pay her first payment until XX/XX/XXXX, in the amount of {$140.00}. She did not make any payments in XXXX or XX/XX/XXXX. She made a {$50.00} partial payment on XX/XX/XXXX, and a {$50.00} partial payment on XX/XX/XXXX. She did not make any other payments for an entire year, when she made a {$500.00} payment on XX/XX/XXXX. She has not made any payments since XX/XX/XXXX, and her account is in default. This account was never settled, and XXXX XXXX XXXX owes us {$1500.00}, plus accrued interest from XX/XX/XXXX, on this loan. XXXX XXXX XXXX complains that she did not receive an IRS Form XXXX regarding this loan. She cites a reference guide, stating that this reference guide triggers the issuing of a XXXX. XXXX XXXX XXXX did not identify this reference guide and we do not have a copy. We can say, however, that we are not required to issue an IRS Form XXXX as this account was never settled and we are still owed money on the account. XXXX XXXX XXXX indicates that the reference guide lists the following events as requiring a XXXX to be issued : ( A ). Bankruptcy. Please note that we have never received any bankruptcy notice and have no reason to believe that XXXX XXXX XXXX filed bankruptcy. ( B ). Other XXXX XXXX relief. Please note that no judicial relief was ordered. ( XXXX ) XXXX of Limitation or expiration of delinquency. Please note that the XXXX of XXXX has not expired and there has been no expiration of delinquency. ( D ) Foreclosure XXXX. Please note that this was not a mortgage loan, and no foreclosure is involved. ( XXXX ) XXXX XXXX from probate or similar Proceeding. Please note that there was no debt relief in any probate or other proceeding. ( F ) By agreement. Please note that there has been no settlement or other agreement on this account. ( G ) Decision or policy to discontinue collection. Please note that we have not made a decision or have a policy to discontinue collection. XXXX XXXX XXXX owes a substantial balance, and we expect the balance to be paid. Finally, XXXX XXXX XXXX states that I have not received a XXXX to apply to my income tax as income, as income as well should not be on a credit report which is a violation of the FCRA. Again, we were not required to issue a XXXX to XXXX XXXX XXXX. Her claim that our reporting of this matter on her credit report is a violation of the FCRA is wholly without merit. We do report to any credit bureau on this account due to a CARES accommodation that we enacted during XXXX. In summary, there has been no settlement of this account, we were not required to issue a XXXX to XXXX XXXX XXXX, and there has been no FCRA violation. If she wishes to discuss her account further, she XXXX call our XXXX office at XXXX and ask to speak to the branch XXXX. 

My second request XXXX XXXX XXXX XXXX XXXX XXXX OH, XXXX Eagle Loan XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX Dear Eagle Loan, Follow-Up : Dispute of Charge-Off Account Reporting This letter serves as a follow-up to my previous dispute letter regarding the charge-off account associated with, which I originally sent on XX/XX/XXXX. Despite your response, the documentation provided does not fully satisfy my requests, as it lacks the comprehensive details required to verify the accuracy and legitimacy of your reporting. As previously stated, I am entitled to request and receive complete and accurate documentation to validate this account 's reporting under the Fair Credit Reporting Act ( FCRA ), specifically 15 U.S.C. 1681i ( Reinvestigation of Disputed Information ) and 15 U.S.C. 1681s-2 ( Responsibilities of Furnishers of Information ) . Additionally, I am requesting proper validation of this debt under Ohio law. To reiterate, I am requesting the following documents and information to ensure a proper and thorough reinvestigation of my dispute : 1. Authenticated Double-Entry Accounting Records I requested full double-entry accounting records, including a detailed breakdown showing all debits and credits for this account, in compliance with standard accounting principles. Please ensure that the documentation provided includes authenticated evidence of this account 's debt validation. 2. Authenticated Evidence Based on Ohio Law As mentioned in my original letter, I require authenticated evidence of your legal right to report and collect this debt, including original signed contracts or agreements proving my obligation to pay. XXXX. Permissible Purpose and Reporting Status Verification Verification of your permissible purpose for reporting this account is necessary, as well as clarification of the current reporting status. This documentation should demonstrate your ongoing legal right to report and collect this debt. 4. Documentation of Debt Securitization I request confirmation on whether this debt has been securitized or transferred to another entity, and if so, documentation that clarifies your continued right to collect and report on this debt. Furthermore, this account continues to be reported with severe inaccuracies. The continued reporting of incomplete or inaccurate information is a violation of my rights under the FCRA. I am therefore demanding a thorough reinvestigation of this dispute and a full and proper response to my initial requests. Please respond within 15 days of receipt of this follow-up letter with the requested documentation, or confirm that the account has been deleted from my credit report. Failure to respond with the proper information may lead to additional actions, including formal complaints to the Consumer Financial Protection Bureau ( CFPB ) and pursuing legal remedies to enforce my rights. Thank you for your immediate attention to this matter. Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation