Consumer complaint received 2019-06-12
Company: CITIZENS FINANCIAL GROUP, INC.
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: Investigation took more than 30 days

Complaint:
I took out a private student loan in XX/XX/XXXX with a cosigner from Citizens Bank to attend XXXX University for a two-year full time course of study for a XXXX XXXX XXXX XXXX degree. While in XXXX school I was paying off the accrued compounded interest on the loan so as not to have a balloon effect after I graduated. When I graduated from XXXX I owed about the principal balance of the amount I borrowed ( {$42000.00} ) from the lender, Citizens Bank. The loan servicer/processor was XXXX XXXX XXXX ( AES ). I entered into a monthly agreement of about {$220.00} after I graduated. The monthly amount was calculated based on the LIBOR of 8.5 % and the outstanding principal balance of the private student loan. In XX/XX/XXXX I contacted XXXX to negotiate a lesser monthly payment amount since my status had changed and I was now a XXXX. XXXX declined my request and since I was unable to continue paying the monthly amount, the loan went into default. 
In XXXX a housing counselor pulled my credit report and I saw that the private loan was reported as charged-off. She advised I contact the lender, Citizens Bank to rehabilitate the loan. I contacted Citizens Bank and was advised that the loan was charged off in XX/XX/XXXX. I entered into a monthly payment plan with Citizens Bank which was initially {$120.00} which later I renegotiated to {$50.00} based on the fact that I had no income. My current source of income is my son 's child support and his SSI. 
In XX/XX/XXXX my credit report was pulled by XXXX XXXX XXXX for assistance with my ongoing housing counseling issue. That was when it first came to my attention of the errors in reporting seen in my credit report in reporting status and the amount of debt which was listed as the highest and not the current as per my monthly payment plan with Citizens Bank. Please see attached supporting documents. I contacted Citizens Bank and was advised to contact each of the three credit bureaus. I received responses from each of the three individual credit bureaus refusing to fix the errors. Rather they wanted Citizens Bank ( loan furnisher ) to provide them with an updated status on my payments so far. I contacted Citizens bank via email at their request but I am yet to receive a response regarding my request to have the errors in reporting on my credit report with regards this private student loan amended. That is with regards to 1. The classification as debt collection instead of charged-off and 2. The amount of debt disputed which is reported as the highest balance and not the current  balance. 
I will be most grateful for your office 's response and action to ensure that this errors in reporting status on my credit report are addressed as my credit report and rating are being adversely affected by the day as long as these errors remain on my credit report. 
Thank you for your time and consideration in this matter and I look forward to hearing from you soon. I can be reached at XXXX or XXXX XXXX

Company response to consumer: Closed with explanation