Consumer complaint received 2024-11-19 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: CarMax, Inc.
State: SC

Complaint narrative:
I am formally disputing the CarMax Auto Finance loan ( Account # xxxxxxxx ) on my credit report based on the following legal grounds. I am requesting the immediate removal of this account due to significant inaccuracies and violations of federal consumer protection laws, as outlined below. 
XXXX. Violation of FCRA Accuracy Requirements 15 USC 1681e ( b ) Under 15 USC 1681e ( b ), XXXX is required to maintain the accuracy of the information included in my credit report. The past-due balance for the CarMax Auto Finance loan is inconsistent between your report and XXXX report. 
XXXX reports a past-due balance of {$16000.00}, while XXXX reports {$16000.00}. 
This discrepancy demonstrates that the information is inaccurate and unverifiable, and therefore, it must be corrected or deleted. 
XXXX. Improper Charge-Off Reporting Misleading and Unfair The account is listed as a charge-off, which represents canceled debt as defined under IRS XXXX Section XXXX XXXX 
Canceled debt is treated as taxable income, typically reported on a Form XXXX. If CarMax Auto Finance has charged off this debt, it can not be legally reported as an outstanding balance. 
Reporting the account in this manner violates the FCRAs accuracy and fairness standards under 15 USC 1681s-2 ( b ), which require furnishers to ensure reported data is neither misleading nor incorrect. 


XXXX. Failure to Provide Opt-Out Rights 15 USC 6802 ( GLBA ) Under 15 USC 6802 ( Gramm-Leach-Bliley Act ), CarMax Auto Finance was legally required to : Notify me of their intention to share my personal financial information with third parties. 
Provide a clear and conspicuous opportunity for me to opt out of such information sharing. 
To date, I have received no such notice. As this reporting is unauthorized, it must be removed from my credit report immediately. 

Requested Resolution I am requesting the following actions : Immediate Removal of the Account : Due to inaccuracies, unverifiability, and legal violations.

Proof of Verification ( if the account is not removed ) : Provide detailed documentation reconciling the balance discrepancy across bureaus. 
Submit evidence that no tax cancellation ( Form 1099-C ) has occurred for this debt. 
Provide a record of my opt-out notice under the Gramm-Leach-Bliley Act.

Failure to comply with these requests will result in further action, including filing a formal complaint with the Consumer Financial Protection Bureau ( CFPB ) and other relevant authorities. 

Legal Summary of Violations 15 USC 1681e ( b ) : Reporting of inaccurate past-due balances.

15 USC 1681i ( a ) ( 5 ) : Inability to verify disputed information within the legally mandated XXXXXXXX window.

15 USC 1681s-2 ( b ) : Misleading charge-off reporting.

15 USC 6802 ( GLBA ) : Failure to provide opt-out notifications.

Thank you for your immediate attention to this matter. I expect your response and resolution within the XXXX statutory window, as required by federal law.

Company response to consumer: Closed with explanation