Consumer complaint received 2025-05-28 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: CAPITAL ONE FINANCIAL CORPORATION
State: NY

Complaint narrative:
To : Consumer Financial Protection Bureau From : XXXX XXXX Address : XXXX XXXX XXXX XXXX XXXX XXXX NY XXXX XXXX : XXXX Date : XX/XX/XXXX Subject : Formal Complaint Against Capital One Unlawful Reporting of Charged-Off Account in Violation of FCRA and IRS Regulations SUMMARY OF COMPLAINT : This is a formal complaint against Capital One Bank ( USA ) , N.A . for unlawful credit reporting activity in violation of the Fair Credit Reporting Act ( FCRA ), IRS regulations, and FTC policy. Specifically, Capital One is : Reporting an alleged charged-off account as derogatory on my credit reports with ongoing monthly updates, misrepresenting the status of the account ; Continuing to report the debt as collectible, despite the fact that, under IRS regulations XXXX charged-off debt is classified as forgiven income and no longer a valid liability ; Receiving a dispute package including an FTC Identity Theft Affidavit and notarized dispute letter, which is being mailed concurrently with the submission of this CFPB complaint. 

1. ILLEGAL CONTINUED REPORTING OF A CHARGED-OFF ACCOUNT Capital One continues to report a past charged-off account with recurring derogatory monthly updates, creating the false appearance of ongoing delinquency. This is misleading and inaccurate, especially if the account was previously charged off and possibly settled or canceled. 

This behavior violates : FCRA 1681e ( b ) Failure to ensure the maximum possible accuracy of reported information ; FCRA 1681s-2 ( a ) ( 1 ) ( A ) Furnishing data with knowledge of inaccuracies ; FCRA 1681s-2 ( b ) Failure to conduct a proper investigation upon notice of dispute. 

Case Law Support : XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX Ongoing inaccurate or misleading charge-off reporting found to violate the FCRA. 
XXXX XXXXXXXX XXXX XXXX XXXX XXXXXXXX XXXX Acknowledged that repeated charge-off notations XXXX amount to deceptive conduct under the FCRA. 

2. IRS REGULATIONS FORGIVEN DEBT IS NOT TO BE REPORTED AS DELINQUENT According to IRS Code 61 ( a ) ( 12 ), once a debt is charged off and classified as forgiven or canceled, it is considered income to the consumer, typically reflected in a Form 1099-C. At that point : The debt is no longer legally enforceable ; It may not be reported as an ongoing collection or charged-off balance ; Continued derogatory credit reporting mischaracterizes the legal status of the debt.

This conduct violates not only consumer protections under the FCRA but also contradicts I
RS tax treatment of canceled debt.

3. FTC AFFIDAVIT ATTACHED WITH THIS CFPB COMPLAINT : A copy of my government-issued ID for verification ; Last four digits of my Social Security number and my date of birth for identity confirmation.

Under FCRA 1681c-2 and FTC enforcement guidelines, once a credit furnisher receives an FTC affidavit and dispute notice, they are required to : Block or remove the disputed information within four ( 4 ) business days, unless certified documentation is produced ; Ensure no re-reporting of the information unless it is verified with legally sufficient evidence.

Failure to comply will result in statutory, actual, and punitive damages as authorized under FCRA 1681n and 1681o.

4. RELIEF REQUESTED : I respectfully demand that Capital One : Immediately and permanently delete the charged-off account from all credit reporting agencies ; Cease and desist all reporting of the account to XXXX XXXX XXXX  and any third-party data recipients ; Provide written confirmation of deletion within ten ( 10 ) business days.

5. ATTACHED DOCUMENTS : FTC Identity Theft Affidavit naming the Capital One account for deletion ; Copy of government-issued ID ; Last four digits of SSN and date of birth for identity verification.

CLOSING STATEMENT : Capital Ones ongoing reporting of this charged-off account is misleading, harmful, and in direct violation of multiple federal statutes. I request immediate investigation and intervention by the Consumer Financial Protection Bureau to compel compliance and protect my legal rights as a consumer. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX XXXX : XXXX XXXX

Company response to consumer: Closed with non-monetary relief