Consumer complaint received 2023-09-04
Company: Experian Information Solutions Inc.
State: AL
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
To whom it may concern, I have serious concerns about the ethical business practices of Experian Credit Reporting. 
On XX/XX/XXXX, Experian reported a student loan balance increase from {$120000.00} to {$250000.00}. Experian reported a new student loan balance of XXXX with Department of EducationXXXX XXXX However, Experian still reported a student loan balance of XXXX with Department of EducationXXXX XXXX At this time, I only owe {$120000.00} with the Department of EducationXXXX XXXX 

On XX/XX/XXXX at around XXXXXXXX XXXX I contacted Experian Customer Service for consumer assistance to dispute their inaccurate reporting of my student loan balance and to explain that The Department of Education transferred my student loans were transferred from XXXX XXXX to XXXX ownership. I explained these Department of Education student loans were transferred from XXXX to XXXX on XXXX I explained the other 2 credit reporting agencies XXXX and XXXX did not show this incorrect information. The Experian customer service representative processed my credit error dispute over the phone and assured me Experian would conduct a thorough investigation into my dispute. 

On XX/XX/XXXX at around XXXXXXXX XXXX I uploaded The Transfer of Student Loan Ownership to Experian to provide them additional information. On XX/XX/XXXX at around XXXX XXXX, I contacted Experian customer service for consumer assistance, who stated they could not view the uploaded documents and requested I contact them back within 3-5 business days when they should be available to view. 

On XX/XX/XXXX, I received an online notification that Experian completed their investigation. The results of their investigation indicated they did not agree with my dispute and found their records to be accurate and that I owed active student loans of {$120000.00} with XXXX XXXX and also {$120000.00} XXXX, which have been proven to be incorrect. 

On XX/XX/XXXX at around XXXXXXXX XXXX I contacted Experian customer service, for consumer assistance, to inquire if my document was available for viewing so that my credit report could be corrected. The customer service representative confirmed the document was available to view and would process a new investigation. 

As of the date of this letter, the credit errors remain on my credit report and Experian has refused to correct my report even with proof that I only owe {$120000.00} to the Department of Education for my student loans and my issue remains unresolved. 

For the reasons listed above, I need to make an official formal complaint against Experian for their unethical business practices. I no longer have confidence in Experians ability to maintain accurate records management. Experian has failed to provide me, as a consumer, a fair and transparent investigation on errors on my credit report on two separate occasions. Experian has failed to contact the appropriate channels of XXXX XXXX, XXXX, and The Department of Education to clarify the information that was presented, as evidenced by the transfer of student loan ownership. 

As a result, Experians unethical business practices have caused me undue financial hardship. I have been unable to secure financing for home ownership due to my increased debt to income ratio based on Experians mistake. I was also denied the ability to receive a credit line increase due to my increased debt to income ration due to Experian unethical business practices based on Experians mistake.

Consumer reporting agencies like Experian, collect information and provide reports to other companies about me, which inform decisions about pro
viding consumers with credit, employment, housing, insurance, etc. Experian must be held accountable for their refusal to correct inaccurate credit reporting. Experian is not in compliance with their Information Security Policies and Standard. Experian has a duty and responsibility to provide fair and transparent credit reporting to all individuals. Experian has proved they are in direct violation of their own Experian Corporate Responsibility code of conduct and have failed to meet minimum standard of accurate credit reporting.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation