Consumer complaint received 2021-07-24
Company: EQUIFAX, INC.
State: AR
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I sold my XXXX XXXX XXXX to a gentleman, he purchased my XXXX XXXXXXXX XXXX XXXXXX/XX/XXXX on a 3 way call with myself and XXXX XXXX company. They informed me I would need to be on the phone the entire time to authorize the access to my account so they could take payoff via wire transfer from him. After a lengthy phone call, they took all his info, name, address, number, account info, which I also noted everything on my end to be safe. He stated on the call when they asked, that it was his personal account and a non business account, they initiated two wire transfers as the Max was {$25000.00} per. Once completed they gave me two confirmation numbers and said it would post to my statement online with their system in the next couple days and once cleared and verified I could release the motorcycle. 
XX/XX/XXXX after funds were verified and cleared by XXXX XXXX XXXX, the buyer had his son pick the bike up from me at a public location. 

XXXX sent me paid in full/l letter via fax on XX/XX/XXXX. Stating my account was paid in full. They also released the title to the motorcycle and mailed to the buyer. 
Today XX/XX/XXXX they call me because on XX/XX/XXXX the funds were reversed. 
I called the police, who informed me its civil matter and not stolen at this point. Since I sold the motorcycle in XXXX, I dont have ownership of the bike the financial company would be solely responsible in collecting the funds from the bank/buyer who purchased the bike. Not myself. 

XXXX says Im responsible for the balance, there is no way!? They were paid in full XX/XX/XXXX, And nearly 60 days later theyre trying to get me to pay since the wire reversed. They sent the buyer the title, not me. My ties were done with XXXX after they verified and cleared the wire and sent me a paid in full statement. XXXX approved, accepted, and released the title to a third party which would make it their obligation further. Now my credit is at risk, my credit reputation is important as we are trying to refinance our assets and this will cause a huge problem for us financially speaking, it would disqualify us from saving potentially hundreds of thousands in interest expenses later with a negative mark or in their case a collection amount for nearly {$40000.00}. Ultimately I want XXXX to pursue the buyer and not myself. And to cut any obligations they think I have with them and stop harassing me. They reinstated a contractual debt that was paid and settled as agreed, illegally without a new contract etc. 
I have spoke to my insurance and police department and have contacts for both. 
Ultimately XXXX finance is in the wrong, he paid them. Not me. 
If I were to have received the funds from the buyer into my account, then paid off XXXX with my personal account, and 60 days later I call XXXX XXXX and tell them the buyer reversed funds and I need XXXX XXXX to refund me the {$37000.00}. They would tell me Im out of luck, laugh me off the phone and I would be messed out of the money. 

They reinstated a debt that was paid. Reinstated it without a contract. They will not reach out to my attorney or make any grounds to resolve this. 

I would like them to removed the negative remarks, the showing of late payments, the collection account or whatever else they are trying to put out there, put our account back as paid in full as agreed to all major credit bureaus so we may get this headache behind us. 

This has dropped our scores drastically and is ruining our credit. Please help! 

I have supporting documentation from XXXX finance, my attorney and police report etc.

Company response to consumer: Closed with explanation