Consumer complaint received 2025-05-01 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: Exeter Finance, LLC.
State: TN

Complaint narrative:
I am writing in response to your letter dated XX/XX/XXXX, regarding the alleged account with Exeter Finance. As clearly stated in your correspondence and verified on my credit report, this account was charged off and written off as of XX/XX/XXXX. According to standard financial and tax protocol, the act of charging off and writing off a debt typically results in cancellation of the debt obligation and requires the issuance of an IRS Form 1099-C ( Cancellation of Debt ). To date, I have never received such a form, which you are required by law to file and furnish under 26 U.S. Code 6050P.

Per the Uniform Commercial Code ( UCC 3-604 ), a debt that has been discharged, cancelled, or surrendered is no longer enforceable. You also stated in your letter that an account charge-off status does not relieve customers from contractual obligations owed. This is incorrect when considering IRS discharge regulations and consumer reporting restrictions once a creditor has written off the obligation for tax purposes. 

Moreover, your continued reporting of this alleged debt violates the Fair Credit Reporting Act ( 15 U.S. Code 1681s-2 ), which prohibits furnishing information known to be inaccurate or unverifiable. If the debt has been cancelled, there can be no further permissible purpose to report it ( see 15 U.S. Code 1681b ). Once discharged or forgiven, the debt should be reflected as Paid in Full / {$0.00} Balance / Closed, not as an open derogatory item still harming my credit standing. 

Your refusal to remove this account, your mischaracterization of my statutory rights, and your dismissive language ( invalid and repetitive letters, constitutes fraud ) are not only unprofessionalthey are unacceptable and legally questionable. 



Here Are My Demands : 1. Immediate deletion with prejudice of this tradeline from all consumer reporting agencies XXXX XXXX XXXX XXXX XXXX ). 
XXXX. Full disclosure and delivery of any IRS Form 1099-C filed by your institution for this charged-off account.

3. If no 1099-C was filed, provide a signed statement on company letterhead stating that no such cancellation filing occurred.

4. Compensation for credit harm and inconvenience under 15 U.S. Code 1681n, which provides for statutory and actual damages, attorneys fees, and punitive damages in cases of willful noncompliance.

5. A written confirmation within 30 days that these actions have been taken.

If you refuse to honor these demands, I will file a formal complaint with the IRS for failure to furnish required tax documentation under 26 CFR 1.6050P-1, pursue further regulatory action through the CFPB, and explore legal remedies for damages. 

I reserve all rights under federal and state law, including the right to escalate this matter to legal counsel and seek redress in court. Your cooperation and compliance are expected immediately.

Company response to consumer: Closed with explanation