Consumer complaint received 2023-07-06
Company: Bridgecrest Acceptance Corporation
State: VA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
in XX/XX/2023, I received an update on my credit report and found an unverifiable, invalidated, inaccurate, and questionable item which lowered my credit score and has led me to believe that your agency has not made sure it is reporting 100 % accuracy. This is direct violation of : U.S. Code chapters 1605, 1681e ( b ), 1681i ( 5 ), and 1692 with the definitions in detail 15 U.S. Code 1605 - Determination of finance charge ( a ) Finance charge defined Except as otherwise provided in this section, the amount of the finance charge in connection with any consumer credit transaction shall be determined as the sum of all charges, payable directly or indirectly by the person to whom the credit is extended, and imposed directly or indirectly by the creditor as an incident to the extension of credit. The finance charge does not include charges of a type payable in a comparable cash transaction. The finance charge shall not include fees and amounts imposed by third party closing agents ( including settlement agents, attorneys, and escrow and title companies ) if the creditor does not require the imposition of the charges or the services provided and does not retain the charges. Examples of charges which are included in the finance charge include any of the following types of charges which are applicable : ( 1 ) Interest, time price differential, and any amount payable under a point, discount, or other system or additional charges. 
( 2 ) Service or carrying charge. 
( 3 ) Loan fee, finders fee, or similar charge. 
( 4 ) Fee for an investigation or credit report. 
( 5 ) Premium or other charge for any guarantee or insurance protecting the creditor against the obligors default or other credit loss. 

Compliance procedures [ 15 U.S.C. 1681e ( b ) ] ( b ) Accuracy of report. Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates. 
Procedure in case of disputed accuracy [ 15 U.S.C. 1681i ( 5 ) ] ( 5 ) Treatment of Inaccurate or Unverifiable Information ( A ) In general. If, after any reinvestigation under paragraph ( 1 ) of any information disputed by a consumer, an item of the information is found to be inaccurate or incomplete or can not be verified, the consumer reporting agency shall ( i ) promptly delete that item of information from the file of the consumer, or modify that item of information, as appropriate, based on the results of the reinvestigation ; ( ii ) promptly notify the furnisher of that information that the information has been modified or deleted from the file of the consumer. 
( B ) Requirements Relating to Reinsertion of Previously Deleted 15 U.S. Code 1692a. Definitions As used in this subchapter- ( 1 ) The term " Bureau '' means the Bureau of Consumer Financial Protection . 
( 2 ) The term " communication '' means the conveying of information regarding a debt directly or indirectly to any person through any medium. 
( 3 ) The term " consumer '' means any natural person obligated or allegedly obligated to pay any debt. 
( 4 ) The term " creditor '' means any person who offers or extends credit creating a debt or to whom a debt is owed, but such term does not include any person to the extent that he receives an assignment or transfer of a debt in default solely for the purpose of facilitating collection of such debt for another. 
( 5 ) The term " debt '' means any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance, or services which are the subject of the transaction are primarily for personal, family, or household purposes, whether or not such obligation has been reduced to judgment. 
( 6 ) The term " debt collector '' means any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due another. Notwithstanding the exclusion provided by clause ( F ) of the last sentence of this paragraph, the term includes any creditor who, in the process of collecting his own debts, uses any name other than his own which would indicate that a third person is collecting or attempting to collect such debts. 
For the purpose of section 1692f ( 6 ) of this title, such term also includes any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the enforcement of security interests. The term does not include- ( A ) any officer or employee of a creditor while, in the name of the creditor, collecting debts for such creditor ; ( B ) any person while acting as a debt collector for another person, both of whom are related by common ownership or affiliated by corporate control, if the person acting as a debt collector does so only for persons to whom it is so related or affiliated and if the principal business of such person is not the collection of debts ; ( C ) any officer or employee of the United States or any State to the extent that collecting or attempting to collect any debt is in the performance of his official duties ; ( D ) any person while serving or attempting to serve legal process on any other person in connection with the judicial enforcement of any debt ; ( E ) any nonprofit organization which, at the request of consumers, performs bona fide consumer credit counseling and assists consumers in the liquidation of their debts by receiving payments from such consumers and distributing such amounts to creditors ; and ( F ) any person collecting or attempting to collect any debt owed or due or asserted to be owed or due another to the extent such activity ( i ) is incidental to a bona fide fiduciary obligation or a bona fide escrow arrangement ; ( ii ) concerns a debt which was originated by such person ; ( iii ) concerns a debt which was not in default at the time it was obtained by such person ; or ( iv ) concerns a debt obtained by such person as a secured party in a commercial credit transaction involving the creditor. 
( 7 ) The term " location information '' means a consumer 's place of abode and his telephone number at such place, or his place of employment. 
( 8 ) The term " State '' means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation