Consumer complaint received 2023-07-21
Company: Experian Information Solutions Inc.
State: CA
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:
I got a loan with a company used to be called XXXX on XX/XX/2022, the company put part of the loan in a locked savings account which won't have access to until the loan is paid off. 

A few months after I took the loan, XXXX informed all their customers that they decided to sell all customer loans to another company as a strategic business decision. Thus, my loan was sold to a company called " XXXX XXXX XXXX XXXX , XXXX '' or XXXX as short name. 

I was able to establish online account with the new company and set a username and password to start paying my monthly payments to them. Due to financial hardship, I was late for a few months. One day, I was trying to login to my XXXX portal to make the late payments, then I received error message saying " XXXX - File or directory not found '', so I wasn't able to make any payments. 

A few days later, I was checking my credit report and found that I have negative account showing on my credit reports as a collection account with amount of {$110.00}. It seems that XXXX liquidated the savings account and used to pay the balance on my account without informing me. 

The savings account that was locked had a balance of {$670.00}. However, that savings account was liquidated and the amount of {$670.00} was used to pay the loan balance. Please note that I didn't receive any communication or mails from XXXX that my savings account will be liquidated. And as I mentioned above the website of the successor company who bought the loan from the XXXX wasn't not letting me to login so I couldn't pay the balance of the loan which was {$110.00}, and I don't have any information for that company so I can send them the payment. 

As I mentioned earlier I didn't receive any mail or any communication from that company regarding any actions they were planning to take regarding my savings account or the loan balance. I am also attaching screenshot for the screen when I try to login to my account through the company 's website, and will see that it gives me error message as " Not Found '' page. Now that amount of {$110.00} is showing in my credit report as charged off or in collection. 

Now my credit score went down because of this negative account that is showing as a collection on my credit reports with all the 3 credit reporting agencies. 

With all that mentioned above, I am requesting to delete that account from all of my credit reports as it's causing harm to my credit specially that I need to move soon and rent a new apartment, and with that account showing in my credit report it will be hard for me to rent a new place. I want to pay the balance owed of {$110.00} but I need first to make sure that XXXX will remove the negative account from all 3 credit reports and I need to know how can I pay that balance. 

Thanks, XXXX XXXX

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