Credit reporting or other personal consumer reports -- Incorrect information on your report -- Complaint #12527252
Complaint Overview
Complaint ID: 12527252
Company: New City Funding CORP.
Product: Credit reporting or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Account information incorrect
State: New Jersey
ZIP Code: 07002
Date Received: 2025-03-17T12:00:00-05:00
Date Sent to Company: 2025-03-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am disputing an auto loan account originally opened on XX/XX/XXXX with New City Funding Corp., which was charged off on XX/XX/XXXX. Despite this, the company continues to report the account to XXXX as unpaid. According to their own letter, a settlement offer was extended but not satisfied, and the account was charged off over six years ago. A charged-off account is typically written off for tax purposes. If the creditor issued a Form 1099-C ( Cancellation of Debt ) or received tax benefits from the charge-off, they are not allowed to continue reporting the debt as unpaid or attempt further collection. I requested confirmation of this and demanded the removal or correction of the reporting. I have also disputed this with XXXX directly. This continued reporting may violate the Fair Credit Reporting Act ( FCRA ) and IRS regulations if the debt was canceled. I am requesting that this account be removed or updated to Paid or Settled immediately.
Frequently Asked Questions
What is Complaint #12527252 about?
Complaint #12527252 was filed against New City Funding CORP. regarding Credit reporting or other personal consumer reports specifically about Incorrect information on your report. It was received by the CFPB on 2025-03-17T12:00:00-05:00.
How did New City Funding CORP. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit reporting or other personal consumer reports) and describe your issue in detail.
Can I see other complaints against New City Funding CORP.?
Yes, visit the New City Funding CORP. company profile at readthecomplaint.com/company/new-city-funding-corp to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.