Debt collection -- Took or threatened to take negative or legal action -- Complaint #19542674
Complaint Overview
Complaint ID: 19542674
Company: Truist Financial Corporation
Product: Debt collection
Sub-Product: I do not know
Issue: Took or threatened to take negative or legal action
Sub-Issue: Threatened or suggested your credit would be damaged
State: North Carolina
ZIP Code: 27406
Date Received: 2026-02-16T12:00:00-05:00
Date Sent to Company: 2026-02-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
To Whom It May Concern, I am submitting this formal complaint against Truist Bank for continuing to furnish an inaccurate and legally inconsistent charged-off credit card tradeline while failing to issue the required IRS Form XXXX after treating the debt as a canceled loss. This conduct violates 26 U.S.C. 6050P, Treasury Regulation 1.6050P-1, and multiple provisions of the Fair Credit Reporting Act ( FCRA ). Account Information Creditor : Truist Bank Account Number : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Account Type : Credit Card Date Opened : XX/XX/XXXX Closed Date : XX/XX/XXXX Reported Balance : {$6500.00} Account Status : Collection / Charge-Off Bureaus Reporting : XXXX XXXX XXXX Admission of a Cancellation-of-Debt Event Truist Bank is reporting this account using explicit cancellation language, including : Charged off as bad debt Canceled by XXXX XXXX Unpaid balance reported as a loss by the XXXX XXXX These statements constitute an identifiable cancellation-of-debt event under : 26 U.S.C. 6050P ( a ) Treasury Regulation 1.6050P-1 ( b ) ( 2 ) Federal law requires a creditor to issue IRS Form XXXX when {$600.00} or more of indebtedness is canceled or discharged. This account exceeds that threshold. To date : No Form XXXX has been issued or provided No documentation has been produced showing the debt remains legally enforceable A creditor can not cancel a debt for accounting and tax purposes while simultaneously reporting it as owed on a consumer credit report. XXXX XXXX & FCRA Violations By continuing to report this account as a collectible charge-off after declaring it canceled and a loss, Truist Bank is furnishing materially misleading information, in violation of : 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ) Furnishing information that is inaccurate or misleading. 15 U.S.C. 1681s-2 ( b ) Failure to conduct a reasonable investigation and verify the legal status of the debt. 15 U.S.C. 1681e ( b ) Failure to maintain reasonable procedures to assure maximum possible accuracy. Under XXXX XXXX reporting standards, a tradeline may not continue to report a balance owed after being classified as canceled, charged off as bad debt, or written off as a loss. Demand for Relief I hereby demand that Truist Bank : Immediately delete this tradeline from all consumer reporting agencies, including XXXX XXXX, and XXXX. Provide a copy of the IRS Form XXXX issued for this account ; or Provide written documentation establishing that no cancellation-of-debt event occurred and the legal basis for continued reporting ; or Absent production of legally required documentation, continued reporting constitutes willful noncompliance with federal law. This complaint is being submitted to the Consumer Financial Protection Bureau ( CFPB ) for regulatory review and enforcement. Please provide a written response within the CFPB-mandated response timeframe.
Frequently Asked Questions
What is Complaint #19542674 about?
Complaint #19542674 was filed against Truist Financial Corporation regarding Debt collection specifically about Took or threatened to take negative or legal action. It was received by the CFPB on 2026-02-16T12:00:00-05:00.
How did Truist Financial Corporation 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 (Debt collection) and describe your issue in detail.
Can I see other complaints against Truist Financial Corporation?
Yes, visit the Truist Financial Corporation company profile at readthecomplaint.com/company/truist-financial-corporation 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.