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Reporting company used your report improperly. Several accounts reporting as " Charge Off '' Per IRS Publication 4681 " Charge Off '' are deemed as COD " Certificate of Debt '' and is considered as income. IT IS A VIOLATION TO REPORT A CONSUMERS INCOME. 15 USC 1681 ( a ) Accuracy and fairness of credit reporting The Congress makes the following findings : ( 1 ) The banking system is dependent upon fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system. ( 2 ) An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity,