Consumer complaint received 2023-05-29
Company: Bread Financial Holdings, Inc.
State: RI
Product: Credit card or prepaid card
Sub-product: Store credit card
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

Complaint:
Subject : Complaint against Comenity Bank Dear Sir/Madam , I am writing to file a formal complaint against Comenity Bank regarding a billing dispute and credit report inaccuracies. Despite my repeated attempts to resolve the issue directly with the bank, I have not received a satisfactory resolution. I kindly request your intervention to address this matter promptly and ensure that appropriate actions are taken. 

On XX/XX/XXXX, I was enrolled in a 12-month hardship plan with Comenity Bank due to my job loss. This plan was supposed to continue until XX/XX/XXXX, providing me with financial relief during a challenging period. However, without any prior notification, the bank canceled my hardship plan while automatic withdrawals continued to be debited from my checking account. 

I have diligently communicated with Comenity Bank on more than 20 occasions to rectify this issue. However, my efforts have been in vain. The bank 's recent change to its billing system has resulted in discrepancies in payment reporting. Specifically, my payments for the majority of XXXX & XXXX were inaccurately reported as late on my credit report. This erroneous reporting has significantly impacted my credit score and caused severe difficulties in securing housing, purchasing a vehicle, and obtaining approval for rental homes. 

Moreover, Comenity Bank reduced the credit limits on my accounts without proper justification. My New York and Company account balance was decreased from {$250.00} to {$100.00}, and my Express account balance was reduced from {$500.00} to {$400.00}. This further exacerbated the negative impact on my credit score and financial stability. 

Despite speaking with numerous representatives, it was only on XX/XX/XXXX, that I received assistance from XXXX, who informed me that my payments were inexplicably deleted from the system. She suggested that I send a formal complaint to their office to address the billing disputes. 

Therefore, I kindly request the following actions be taken : 1. Investigate the billing dispute and credit report inaccuracies associated with my Comenity Bank accounts. 
2. Ensure that my payments made during the hardship plan are properly posted to my accounts and accurately reported to XXXX, XXXX, and XXXX. 
3. Rectify the reduced credit limits on my Express and New York and Company accounts, reinstating them to their original amounts of {$500.00} and {$250.00}, respectively. 
4. Enforce appropriate measures to prevent such billing system errors from occurring in the future and ensure customers are notified of any changes to their payment plans. 
5. Provide me with a written response outlining the actions taken to resolve this matter within 30 days of receiving this complaint. 

I appreciate your attention to this serious matter and the impact it has had on my financial well-being. I trust that the Consumer Financial Protection Bureau will take the necessary steps to investigate this complaint thoroughly and assist in achieving a fair resolution. 

Thank you for your prompt attention to this matter. I look forward to a swift resolution and your assistance in restoring my financial stability. 

Sincerely, XXXX XXXX RE : Express Account ending : XXXX Victoria 's Secret Account ending in XXXX XXXX XXXX Account ending in XXXX NY & Company Account ending in XXXX

Company response to consumer: Closed with monetary relief