Consumer complaint received 2025-11-08 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Experian Information Solutions Inc.
State: NC

Complaint narrative:
This letter is the last of many over the past few years formally disputing the accuracy of the {$6400.00} charge-off entry reported by XXXX XXXX XXXX XXXX XXXX on my credit report. The reported charge-off violates multiple federal statutes, including the Fair Credit Reporting Act ( 15 U.S.C. 1681 et seq. ), IRS regulations governing canceled debt, and the Truth in Lending Act ( TILA ). 

Validation and Verification Demand : Pursuant to the FCRA, I assert my right to complete validation and verification of the referenced account. I request a full description of your validation procedures, including signed documents evidencing the original indebtedness, payment history, and any assignments or transfers of this obligation. 

Verification Hold in Due Course : Under UCC Article 3-302 and the doctrine of Holder in Due Course, I request affirmative proof of your legal right to collect and report this debt, including any endorsements or assignments in the chain of title to the instrument.

Securities and Debt Income Reporting : Recognizing that a charge-off is treated as a certificate of indebtednessproviding the basis for conversion of the account into a 1099-C cancellation of debtI request all supporting documentation validating this status and the lawful issuance ( or alleged
issuance ) of any related IRS forms. According to IRS 1099-C regulations, canceled debts are taxable income and must be removed from credit reporting as outstanding obligations. Reporting a balance after issuance of a 1099-C is contrary to IRS code and FCRA accuracy requirements. 

Marking Account as Disputed : If this charge-off is not removed, you must flag the entry as disputed pursuant to 15 U.S.C 1681s-2 ( a ) ( 3 ) and applicable FTC guidelines.

No Double Reporting : If my account was sold or transferred, only the party still holding title may report a balance. All duplicative reporting must be immediately corrected.

Banks Can not Lend Money, and Signature as Credit : It is a fundamental legal principle that banks do not lend money per se ; rather, by my signature, I extended credit to the bank. This credit is the true source of any funds claimed as lent. This notion is false, misleading, and deceptive, supported by Federal Reserve laws and UCC provisions reflecting credit creation.

Consent Requirement for Reporting : Under the FCRA ( 15 U.S.C. 1681b ), no information, including late payments or charge-offs, may be reported without my explicit consent. Unauthorized reporting of derogatory information violates the FCRA and FTC guidelines.

1099-C Form Issuance and Receipt : IRS mandates creditors furni
sh a Form 1099-C to the debtor no later than XX/XX/XXXX after debt cancellation. This includes providing at least one copy to the debtor. I have never received any such form from you, violating IRS regulations and undermining the legitimacy of the reported charge-off and the related certificate of indebtedness. As a private creditor and secure party with recorded financial statements, I am entitled to full compliance and disclosure. 

Truth in Lending Act ( TILA ) Compliance : Under the Truth in Lending Act ( 15 U.S.C. 1601 et seq. ) and its implementing Regulation Z ( 12 C.F.R. Part 1026 ), creditors must disclose all key terms of credit clearly and conspicuously. This includes the creditors identity, finance charges, APR, payment schedules, security interests, fees, and other costs. Failure to provide accurate disclosures and periodic billing statements is a violation affecting the enforceability of claims. Your failure to comply with these disclosure requirements invalidates the legitimacy of the debt and its reporting. 

Multiple Disputes Without Validation : I have disputed this matter on several occasions over the years. To date, no validation, proof, or verification of the alleged debt or charge-off has ever been provided by you or your agents. This ongoing failure to provide legally required validation constitutes a continuing violation of the Fair Credit Reporting Act and associated statutes, further undermining the accuracy and legitimacy of this report. 

Opt-Out Under 15 U.S.C. 6805 : Please be advised I have expressly opted out in accordance with 15 U.S.C. 6805, asserting my rights under the Gramm-Leach-Bliley Act relating to financial privacy and limiting the sharing of my nonpublic personal information. Any reporting or sharing of information without explicit authorized consent violates this statutory opt-out. 

Privacy Act of 1974 and Terms of Account Agreement : At the time I opened my account with XXXX XXXX XXXX XXXX XXXX, the terms and conditions and Privacy Act of 1974 provisions explicitly stated that my personal and financial information would not be shared with third parties without my consent. Despite this, your institution has shared my information with third parties including all major credit bureaus ( XXXX XXXX XXXX XXXX XXXXXXXX, XXXX XXXX XXXX, and others without lawful authorization. The Privacy Act of 1974 ( 5 U.S.C. 552a ) prohibits the disclosure of personally identifiable information without the written consent of the individual, except under twelve statutory exceptions. Your unauthorized dissemination of nonpublic personal information constitutes a violation of the Gramm-Leach-Bliley Act ( 15 U.S.C. 68016809 ), the Fair Credit Reporting Act, the Privacy Act of 1974, and related federal privacy protections. Your actions breach federal law and the binding contractual commitments made upon account opening. 

Please consider this letter your final opportunity to resolve these longstanding inaccuracies and violations with full transparency and immediate corrective action.

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