Consumer complaint received 2024-12-04 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Privacy issues
Company: Synovus Bank
State: FL

Complaint narrative:
XXXX XXXX/SYNOVUSXXXX XXXXXXXX XXXX XXXX XXXX XXXX, SD XXXX Illegal debt collectors XXXX  XXXX, XXXX. 
Account sold XX/XX/XXXX, NOTICE TO AGENT IS NOTICE TO PRINCIPAL NOTICE TO PRINCIPAL IS NOTICE TO AGENT To whom this may concern, please be advised this was not a debt validation request. XXXX/SYNOVUS/XXXX is violating my consumer rights, breaking the Tax Regulations, FDCPA and the FCRA. Your company also is furnishing inaccurate and incorrect information to the consumer reporting agencies. The report of such inaccurate information has caused severe damages to my character, my reputation, my general mode of living and my ability to obtain credit for personal and household purposes. 

1006.1 Authority, purpose, and coverage.

( a ) Authority. This part, known as Regulation F, is issued by the Bureau of Consumer Financial Protection pursuant to sections 814 ( d ) and 817 of the Fair Debt Collection Practices Act and Dodd-Frank Act. 

Please note that these credit reporting agencies, XXXX, XXXX, XXXX and XXXX do not have authority that your company is responsible to follow. Please be advised that there is only one credit bureau and it is the Consumer Financial Protection Bureau and they DO NOT furnish consumer reports as stated by federal law. As a consumer I am fully protected by consumer protection rights federal law. The Dodd-Frank Act granted rulemaking authority under the FDCPA & FCRA to the Consumer Financial Protection Bureau ( CFPB ) and, with respect to entities under its jurisdiction, granted authority to the CFPB to supervise for and enforce compliance with the FDCPA & FCRA.

Your company is quoted as saying The 1099C form is used if more than {$600.00} of taxable debt is forgiven or cancelled.

Charging off a debt due to nonpayment by the definition of the IRS is considered canceled debt still!

As defined by the IRS.

Even if you did not receive a form 1099-c, you must report canceled debt as gross ordinary income on your tax return The above statement comes directly from the IRS publication of what a charge off is and how its defined and determined. The IRS clearly defines a charge off as gross ordinary income. INCOME DOESN'T GET REPORTED ON YOUR CONSUMER REPORT which in fact makes your reporting of this account inaccurate.

26 CFR 1.6050P-1 - Information reporting for discharges of indebtedness by certain entities.

26 CFR 1.6050P-1 - Information reporting for discharges of indebtedness by certain entities. ( b ) Date of discharge ( 1 ) In general. Solely for purposes of this section, except as provided in paragraph ( b ) ( 3 ) of this section, indebtedness is discharged on the date of the occurrence of an identifiable event specified in paragraph ( b ) ( 2 ) of this section.

( G ) A discharge of indebtedness pursuant to a decision by the creditor, or the application of a defined policy of the creditor, to discontinue collection activity and discharge debt.

( iii ) Decision to discontinue collection activity ; creditor 's defined policy. For purposes of the identifiable event described in paragraph ( b ) ( 2 ) ( i ) ( G ) of this section, a creditor 's defined policy includes both a written policy of the creditor and the creditor 's established business practice. Thus, for example, a creditor 's established practice to discontinue collection activity and abandon debts upon expiration of a particular non-payment period is considered a defined policy for purposes of paragraph ( b ) ( 2 ) ( i ) ( G ) of this section.

Your company has not confirmed the information provided for this account is accurate. Under the fair debt reporting act your company has failed to report fair and accurate information. A charge off by federal law is explained as the company giving up collections rights by the practice of discontinuing collections activities.

Saying The 1099C form is used if more than {$600.00} of taxable debt is forgiven or cancelled. Is very manipulative, because the IRS and consumer laws says otherwise.

Form 1099-C Reference Guide for Box 6 Identifiable Event Codes G Decision or policy to discontinue collection. The IRS publication also attached label as EXHIBIT A so you and your legal team reference to the federal law your company must follow. 

Privacy violations XX/XX/XXXX, the account was sold to XXXX XXXX, XXXX. As stated in your CFPB response. XXXX XXXX XXXX is a third party debt collection company. The only way information can be passed from XXXX company to another is common ownership.

15 U.S. Code 1692e ( 12 ) - False or misleading representations ( 12 ) The false representation or implication that accounts have been turned over to innocent purchasers for value.

So yes! The transfer of these contractual rights from XXXX XXXXXXXX/SYNOVUS/XXXX  to XXXX XXXX  XXXX  is breaking federal law! And continuing to violate my consumer rights. Your company Privacy Statement share our customers ' information for our everyday business purposes only means you can share my nonpublic personal information with affiliates or companies owned by corporate control, not third party debt collectors companies. 

XXXX XXXX XXXX is not an affiliate of the original creditor XXXX XXXX/SYNOVUS/XXXX. The only true credit bureau is the CFPB and they DO NOT furnish consumer reports as stated in federal law. I have a right to privacy and Per the Privacy Act of 1974 as a federally protected consumer I am now revoking any and all authorization I the consumer may have given the original creditor, non written, verbal, and nonverbal per 5 U.S. Code 552a. Selling my nonpublic personal information is against federal law. The only way information can be shared is by common ownership or control.

Company response to consumer: Closed with explanation