Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #5294135

Complaint Overview

Complaint ID: 5294135

Company: Capital One Financial Corporation

Product: Credit reporting, credit repair services, or other personal consumer reports

Sub-Product: Credit reporting

Issue: Problem with a credit reporting company's investigation into an existing problem

Sub-Issue: Their investigation did not fix an error on your report

State: North Carolina

ZIP Code: 282XX

Date Received: 2022-03-07T12:00:00-05:00

Date Sent to Company: 2022-03-07T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

Capital one is reporting an inaccurate account on my credit report. I sent them a notarized certified letter on XX/XX/22 at XXXX letting them know that they are re porting inaccurate information on my credit report. Under 15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies ( a ) Duty of furnishers of information to provide accurate information ( 1 ) Prohibition ( A ) Reporting information with actual knowledge of errors. They are reporting the account as a Collection/Chargeoff it can't be both. its either a collection or charge off. if its a charge off i never received my 1099c for this account. The IRS clearly defines a charg e off as Gross or Ordinary income, INCOME DOES NOT GET REPORTED ON THE CONSUMER REPORT which in fact makes your reportin g of this account inaccurate! By Definition the IRS Clearly says a Cancelled or Charge Off is income. The reporting of this account as a debt is in accurate. 15USC 1681 s-2 says Capital One company are a furnisher of information to consumer reporting age ncy. Capital one is PROHIBITED BY LAW to furnish inaccurate information. I demand you to Cease and Desist the reporting of incorrect/ in accurate information immediately. 15 U.S code 1681 s-2 ( a ) ( 1 ) ( A ) A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. The lender must fi le form 1099-C and send you a copy if the amount of debt canceled is {$600.00} or more and the lender is a financial, credit union , federal government agency, or other applicable entity as discussed in chapter 1 The above paragraph is taken directly from the IRS publication . 15 U.S. Code 1681s2 ( a ) Duty of furnishers of information to provide accurate information 1 ) Prohibitio n ( B ) Reporting information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency if- ( i ) the person has been notified by the consumer, at the ad dress specified by the person for such notices, that specific information is inaccurate ; and ( ii ) the information is, in fact, inaccurate. In conclusion I have shown you and you have been put on notice that are reporting Inaccurate information. The information is, in fact, inaccurate. The continued reporting of this inaccurate information is clear violation of the law 15 US code 1681 s-2 of your re sponsibilities as furnisher of information. CAPITAL ONE SENT ME THIS LETTER BACK SAYING ITS THE CREDIT AGENCIES ARE REPORTING THIS ACCOUNT. NOT TRUE IT'S CAPITAL ONE TELL THEM TO REPORT THIS INACCURATE ACCOUNT TO MY CREDIT REPORT .

Frequently Asked Questions

What is Complaint #5294135 about?

Complaint #5294135 was filed against Capital One Financial Corporation regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Problem with a credit reporting company's investigation into an existing problem. It was received by the CFPB on 2022-03-07T12:00:00-05:00.

How did Capital One 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 (Credit reporting, credit repair services, or other personal consumer reports) and describe your issue in detail.

Can I see other complaints against Capital One Financial Corporation?

Yes, visit the Capital One Financial Corporation company profile at readthecomplaint.com/company/capital-one-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.

Related Pages