Consumer complaint received 2024-11-20 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc.
State: CA

Complaint narrative:
To : XXXX XXXX XXXX XXXX XXXXXXXX, PA XXXX To : Experian XXXX XXXX XXXX XXXX, TX XXXX Subject : Dispute of Account Reporting and Request for Immediate Action Dear XXXX and Experian, has been classified as a charged-off debt, which qualifies as canceled income under IRC 6050P. 

According to federal tax law, when a creditor cancels or forgives a debt of {$600.00} or more, it is considered taxable income to the debtor, and the creditor is required to issue a Form 1099-C to both the debtor and the Internal Revenue Service ( IRS ). This form serves as documentation that the debt has been forgiven, meaning the debtor no longer owes the balance. 

If no Form 1099-C is issued, it indicates that the creditor has not treated the debt as canceled income, and thus, it should not continue to be reported as a delinquent charge-off on my credit report. The continued reporting of this account without the issuance of a 1099-C is not only inaccurate but also unfair. 

I am writing to formally dispute the reporting of a charged-off account from XXXX XXXXXXXX XXXX on my credit reports. This account, associated with account numbers XXXX and XXXX, is being reported inaccurately, violating the Internal Revenue Code ( IRC ) 6050P and raising significant compliance concerns under federal tax and credit reporting laws. 

Immediate Removal of the Account from My Credit Reports Under the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681i ( a ) ( 1 ) ( A ), I have the right to dispute any inaccurate or incomplete information in my credit report. The charged-off debt qualifies as canceled income under IRC 6050P. However, no Form 1099-C was issued to me as required by law. Consequently, the reporting of this account as a delinquent charge-off on my credit reports is inaccurate and must be removed. 

Verification of Reporting Practices I invoke my rights under 15 U.S.C. 1681e ( b ), which mandates credit reporting agencies to follow reasonable procedures to ensure maximum possible accuracy. The failure of XXXX XXXX XXXX  to issue a Form 1099-C raises questions about their compliance with federal tax regulations and the fairness of their reporting practices. 

Additionally, I urge the Consumer Financial Protection Bureau ( CFPB ) to investigate whether XXXX XXXX XXXX has adhered to IRC 6050P and the FCRAs requirements to protect consumers from inaccurate or unfair reporting. 


Under 15 U.S.C. 1681i ( a ) ( 5 ) ( A ), if your investigation determines the information to be inaccurate or unverifiable, it must be promptly deleted or corrected. 

I have attached supporting documents, including copies of my credit reports and correspondence related to this matter, to assist in your investigation. Please provide written confirmation of the results of your investigation and the actions taken within 30 days, as required by 15 U.S.C. 1681i ( a ) ( 1 ) ( A ). 

Thank you for your prompt attention to this matter. I look forward to your resolution of this issue.

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