Consumer complaint received 2024-06-19 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: SCHOOLSFIRST FEDERAL CREDIT UNION
State: CA

Complaint narrative:
SCHOOLSFIRST FEDERAL CREDIT UNION has fraudulently reported inaccurate information since the year XXXX to the present for two accounts on my consumer report and is now in multiple law violations per IRS and FCRA. 
1 ) Credit Card 2 ) Loan Both of these accounts were charged off by SCHOOLSFIRST FEDERAL FCU, they have failed to follow charge-off procedures per IRS Publication which clearly state a Canceled debt or Charge-off is income and a charge-off is defined as Gross or Ordinary income. Income does not get reported on the consumer report, which makes reporting of these accounts inaccurate and fraudulent. I never received a 1099-C from SCHOOLSFIRST FEDERAL CREDIT UNION for a charge-off/canceled debt of { {$2200.00} } and { {$2700.00} } to file as ordinary income. SCHOOLSFIRST FEDERAL CREDIT UNION wrote the debt off with the IRS and failed to send out 1099-C as required by the IRS for debts greater than { {$600.00} }. This is unacceptable! SCHOOLSFIRST FEDERAL CU is now on NOTICE for reporting inaccurate and fraudulent information. SCHOOLSFIRST FEDERAL CU has also violated my privacy by sharing my information with XXXX  a third-party debt collection agency which violates the 1974 Privacy Act as a federally protected consumer. 15 U.S.C 1681 ( a ) ( 4 ) - A consumer has a right to privacy 15 U.S.C 1681e ( b ) - Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure the maximum possible accuracy of the information concerning the individual about whom the report relates. 
SCHOOLS FIRST FEDERAL CU MUST delete all inaccurate accounts because the reporting of those accounts are fraudulent and inaccurate. 
SCHOOLSFIRST FEDERAL CU MUST also pay for violating my consumer rights per FDCPA 15 U.S.C 1692k ( a ) { {$1000.00} } per violation. 
VIOLATIONS : PRIVACY- {$1000.00} 2- INACCURATE AND FRAUDULENT ACCOUNTS - {$1000.00} X 2 = {$2000.00} SCREENSHOTS IRS Publications 1099-A showing information you need to figure your gain or loss from the abandonment. Also, if your debt is canceled and the lender must file Form 1099-C, the lender can include the information about the abandonment on that form instead of on Form 1099-A. The lender must file Form 1099-C and send you a copy if the amount of debt canceled is {$600.00} or more and the lender is a financial institution, credit union , federal government agency, or other applicable entity. 

Civil liability ( FDCPA ) Consumers can sue debt collectors for damages in private right of action litigation. If the consumer proves a violation, they may be awarded up to {$1000.00} in statutory damages per lawsuit, plus actual damages and reimbursement for attorney 's fees and costs. Actual damages may include compensation for emotional distress, fear, anxiety, humiliation, stress, and sleeplessness, but the consumer must prove these damages.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation