Consumer complaint received 2025-01-09 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Tower Loan of Mississippi, Inc.
State: AL

Complaint narrative:
Dear CFPB Representative, I am Filing this complaint to request assistance in resolving an issue regarding an inaccurate charge-off being reported to my credit report in violation of the FCRA ( Fair Credit Reporting Act ). 

The above mentioned account is reporting the following inaccuracies to my Credit Report : XXXX  Date Opened : XX/XX/XXXX Date Closed : XX/XX/XXXX Date Updated : XXXX Last Payment Made : XX/XX/XXXX Balance : {$2800.00} High balance ( history ) : {$2500.00} from XX/XX/XXXX to XX/XX/XXXX Pay Status : Charge Off XXXX Date XXXX : XXXX Account Status : Charge Off High Credit : Date XXXX Date of Last payment : XX/XX/XXXX Account History Balance - XXXX XXXX {$0.00}, XXXX {$0.00}, XXXX {$0.00}, XXXX {$0.00}, XXXX {$0.00}, XXXX {$2800.00}, XXXX {$2900.00}, XXXX {$2900.00}, XXXX {$3000.00}, XXXX {$3100.00} XXXX : XXXX {$0.00}, XXXX {$3100.00}, XXXX {$2800.00}, XXXX {$2800.00} The several inconsistencies are a violation of my consumer rights and a violation of the FCRA ( Fair Credit Reporting Act ) Specifically these sections : 15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies ( 2 ) Duty to correct and update information A person who ( A ) regularly and in the ordinary course of business furnishes information to one or more consumer reporting agencies about the persons transactions or experiences with any consumer ; and ( B ) has furnished to a consumer reporting agency information that the person determines is not complete or accurate, shall promptly notify the consumer reporting agency of that determination and provide to the agency any corrections to that information, or any additional information, that is necessary to make the information provided by the person to the agency complete and accurate, and shall not thereafter furnish to the agency any of the information that remains not complete or accurate. 
( XXXX ) Duty to provide notice of dispute If the completeness or accuracy of any information furnished by any person to any consumer reporting agency is disputed to such person by a consumer, the person may not furnish the information to any consumer reporting agency without notice that such information is disputed by the consumer.

( 4 ) Duty to provide notice of closed accounts A person who regularly and in the ordinary course of business furnishes information to a consumer reporting agency regarding a consumer who has a credit account with that person shall notify the agency of the voluntary closure of the account by the consumer, in information regularly furnished for the period in which the account is closed. 

15 U.S.C. 1681e ( b ) : The credit reporting agencies did not ensure maximum possible accuracy in reporting this charge-off, as required by the FCRA.

( b ) Accuracy of report Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates.

in conclusion. the High Credit does not match the balance, Tower loan continued to report after account was closed, the account was charged off and the IRS considers Charge-offs as income, a payment was reported after the account was closed.

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