Consumer complaint received 2024-11-17 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Investigation took more than 30 days
Company: TRUIST FINANCIAL CORPORATION
State: GA

Complaint narrative:
I have received two accounts that were charged off by Sun Trust Bank / Truist Bank. Theses accounts were charged off in XXXX of XXXX due to loss of employment. As a result of the charged off accounts, The creditor has reported to the IRS that the unpaid debts are to be considered income and will be taxed. The 1099C form for both accounts should have been sent to as a result of these charged off accounts. I have sent in writing 5 certified letters to the creditor requesting the overdue 1099C statements required by law to be included in the current years personal income tax return. I have also requested in writing 5 times that the creditor remove the negative reporting with all 3 credit reporting agencies and have never received a response in 150 day... I am formally requesting CFPB involvement in this matter with .Please see attached copy of the first certified letter sent XX/XX/XXXX SUNTRUST BANK XXXX XXXX XXXX XXXX XXXX XXXX XXXX VA XXXX Dear SUNTRUST BANK I am writing to formally dispute the reporting of the charge-off account associated with XXXX on my credit report. Under the Fair Credit Reporting Act ( FCRA ), specifically 15 U.S.C. 1681i, and 15 U.S.C. 1681s-2 I am entitled to request and receive complete and accurate documentation to verify the accuracy and legality of this accounts reporting. Additionally, under FLORIDA law, I am requesting proper validation of this debt. 
I would like to highlight several cases that affirm my right to dispute this information and request accurate reporting. In XXXX XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX XXXX. XXXX ), the court emphasized the duty of credit reporting agencies and furnishers to ensure the accuracy of the information reported on consumers ' credit reports. Furthermore, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX XXXX. XXXX ) reinforces the requirement that furnishers conduct proper investigations into disputes and verify the accuracy of their reporting. 
To properly validate this account, I am requesting the following : 1. Authenticated Double-Entry Accounting Records I am requesting full double-entry accounting records for the account mentioned. This should include a detailed breakdown that shows how all transactions were debited and credited, ensuring compliance with standard accounting principles. Please note that I do not wish to receive a simple list of charges or statements. I expect authenticated evidence of the debt. 
The court ruling in XXXX XXXX. XXXX, XXXX XXXX XXXX ( XXXX XXXX. XXXX ) held that mere conclusory statements from debt collectors or creditors do not satisfy the validation requirement. Only authenticated and verified documentation proving the validity of the debt is acceptable. 
2. Authenticated Evidence Based on FLORIDA Law, XXXX XXXX. XXXX In addition to the accounting records, I require authenticated evidence, in compliance with FLORIDA law, that you have the legal right to report and collect this debt. This includes original signed contracts or agreements that show my obligation to pay the debt and your legal right to enforce collection and report it to credit bureaus. 
Without this evidence, the continued reporting of this debt may constitute a violation of both federal and state consumer protection laws. 
In XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX. XXXX XXXX. XXXX ), the court held that creditors must produce original signed documentation to prove the validity of a debt. Failing to provide this evidence may result in a violation of both state and federal consumer protection laws. 
3. 1099-C Form If this debt has been forgiven, canceled, or settled for less than the full balance, I am requesting a copy of the 1099-C form filed with the IRS, which is required if the amount of canceled debt exceeds {$600.00}. If you have not provided this documentation, the debt may be considered discharged, and it should no longer be reported as owed on my credit report.

The IRS has clearly outlined the requirements for filing a 1099-C form under 26 U.S.C. 6050P, which applies when a debt of {$600.00} or more is discharged or forgiven. If you have failed to file this form, the continued reporting of this debt may be fraudulent.

In the absence of the requested documentation and verifiable evidence, I request that you immediately delete this account from my credit report in compliance with the FCRA and FLORIDA law. Failure to do so will result in further action, including filing formal complaints with the Consumer Financial Protection Bureau ( CFPB ), pursuing legal remedies to enforce my rights, and submitting a Suspicious Activity Report ( SAR ) to the IRS for suspicion of fraud. The SAR ( FinCEN Form 111 ) will be filed if you continue reporting inaccurate and unverified information without providing the required documentation.

Please respond within 30 days of receipt of this letter. I look forward to receiving the required documentation or confirmation that the account has been deleted

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation