Consumer complaint received 2025-03-30 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: Experian Information Solutions Inc.
State: AZ

Complaint narrative:
I am writing to formally file a complaint regarding unlawful reporting on my credit report by the following credit reporting bureaus : Experian, Equifax, and TransUnion. Specifically, I am concerned about the inaccurate and fraudulent reporting of charged-off accounts by three creditors : XXXX XXXX XXXX XXXX, and XXXX XXXX XXXX XXXX ) XXXX 
These accounts were charged off by the respective creditors ; however, I have not received a 1099-C ( Cancellation of Debt ) from any of the creditors, nor have I been informed of any settlement or discharge of these debts, despite them continuing to appear on my credit reports as debts owed. This practice is unlawful under the Fair Credit Reporting Act ( FCRA ) and the Internal Revenue Code ( IRC ), as it falsely represents the nature of the accounts and could potentially be construed as fraudulent reporting. 
According to the FCRA, creditors and reporting agencies are required to ensure that the information they report is accurate and complete. Furthermore, once a debt is canceled or forgiven ( as with charged-off accounts ), they must report the cancellation to the credit reporting agencies and issue a 1099-C. To date, these steps have not been taken. 
As a result, I am alleging that the following violations have occurred : 1. Failure to issue a 1099-C : Under IRC Section 6050P, creditors are required to issue a 1099-C when they cancel or forgive a debt of {$600.00} or more. None of the creditors involved have issued a 1099-C, nor have they reported the accounts as canceled or forgiven on my credit reports. 
2. False Reporting : These accounts are being reported as debts still owed, which is both inaccurate and misleading. This violates Section 1681e ( b ) of the FCRA, which mandates that credit reporting agencies maintain accurate and complete information. 
3. Failure to Correct : I have previously disputed this information with the credit bureaus, but they have failed to correct or delete these inaccurate items from my report, violating my rights under the FCRA. 
Given these violations, I request that the CFPB investigate this matter and take appropriate action against the credit bureaus for allowing fraudulent information to remain on my credit report. Additionally, I reserve the right to pursue statutory damages under the FCRA, including but not limited to compensation for emotional distress, loss of credit opportunities, and potential damages for the unlawful actions of the reporting agencies and the creditors involved. 
I am requesting that the credit bureaus be compelled to remove these accounts from my credit reports, ensure the proper issuance of a 1099-C, and correct the record with all necessary information regarding the charged-off debts. 
I appreciate your prompt attention to this serious matter and request confirmation of receipt of this complaint as well as updates on any actions taken.

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