Consumer complaint received 2021-04-30
Company: GreenSky, LLC
State: DC
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

Complaint:
During XX/XX/XXXX, I ordered home security devices through XXXX XXXX XXXX. The purchase of the devices used in the home security system were purchased through XXXX using an installment loan offered through XXXX XXXX XXXXGreenSky. The payment terms of the agreement were 12-months same as cash with no minimum payment, but payment must be made within 36-months. I think that in XXXX of XXXX, Greensky began reporting negative entries on my credit reports. I made a payment of {$110.00} on XX/XX/XXXX in an attempt to resolve the credit entries. Then sometime during XXXX and early XX/XX/XXXX they reported the account as written off. I made a payment of {$480.00} on XX/XX/XXXX. As of XX/XX/XXXX, payment was paid in full. 

GreenSky refuses to remove the negative entries from my credit report. I have repeatedly requested that either GreenSky remove the negative entries. In response to my inquiries XXXX and those of the credit agencies ) GreenSky has stated that they have properly reported the account to the credit agencies. I think the negative and late payment entries are inappropriate, inaccurate, and should be deleted given the following : ( XXXX ) The note is 12 months same as cash, but no more than 36 months. Thus, as long as the note is paid in full prior to the 12-month period, it will be considered to be paid in full and on time. I paid off the loan within the 12-month period. Therefore, all payments should be considered on time. ( XXXX XXXX My understanding is that the loan agreement does not provide for minimum payments. This is evidenced by how GreenSky ORIGINALLY reported the loan to XXXX as GreenSky reported the amount owed was {$0.00} per month. Obviously, if I owe {$0.00} per month, I can not be delinquent if I pay {$0.00} per month. ( XXXX ) Additionally, I made a payment of {$110.00} on XX/XX/XXXX. Even assuming mandatory minimum payments, this would have brought my account to full so that all amounts were paid on time. ( XXXX ) Furthermore, I made a payment of {$480.00} on XX/XX/XXXX XXXX payment receipt attached ). As of XX/XX/XXXX, payment was in full. 

I have also requested GreenSky provide me with a copy of the loan agreement. However, GreenSky has not provided me with a copy of the loan agreement or proof of mailing of the loan documents to support that the amounts were past due. 

I also contacted the credit reporting agencies regarding the incorrect reporting of the information. They reported that GreenSky " confirmed '' information was correct but did not provide any supporting information. 

In performing research, my understanding is that GreenSky participates in predatory lending practices as a result of their business model. Although they provide interest free loan terms. However, if they claim that your account is delinquent or not paid in full during the introductory payment period GreenSky charges all accrued and uncharged interest on the account.

Company response to consumer: Closed with explanation