Consumer complaint received 2020-09-24
Company: EQUIFAX, INC.
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
SUMMARY OF COMPLAINT : As of XX/XX/2020, we are writing to request a final correction of error to our creditor, XXXX, to correct and update our XXXX   Account on our Equifax Credit Report under Historical Account Information for : ( 1 )  XX/XX/2020 - Remove Comments Account In Forbearance and Report Scheduled Payment Amount of {$4300.00}, ( 2 ) XX/XX/2020 - Remove Comments Account In Forbearance and Report Scheduled Payment Amount of {$4300.00} and ( 3 ) XX/XX/2020 - Remove Comments Account In Forbearance and Report Scheduled Payment Amount of {$4300.00}. These items still need to be corrected and updated since it is still indicating a forbearance history on our Equifax credit report, which is entirely erroneous and inaccurate since our XXXX  Account was NEVER in forbearance and SHOULD NEVER have been put in forbearance status, but was due to Loancares erroneous system, which they have admitted automatically reported our account in forbearance on XX/XX/2020 IN ERROR, AFTER we cancelled our forbearance request on XX/XX/2020. Therefore, our XXXX Account was never in forbearance and should never have been reported in forbearance status to all the consumer credit agencies and XXXX is legally liable to make us whole with no forbearance history indicating on our Equifax credit report. 

FULL COMPLAINT IN DETAIL : CREDIT REPORTING ERROR : EQUIFAX Credit Report Our XXXX  Account In Historical Account Information : ( 1 ) XX/XX/2020 - Remove Comments Account In Forbearance and Report Scheduled Payment Amount of {$4300.00}, ( 2 ) XX/XX/2020 - Remove Comments Account In Forbearance and Report Scheduled Payment Amount of {$4300.00} and ( 3 ) XX/XX/2020 - Remove Comments Account In Forbearance and Report Scheduled Payment Amount of {$4300.00}. 
As of XX/XX/2020, our Equifax Credit Report is currently reporting our XXXX  Account under Historical Account Information as follows : ( 1 ) XX/XX/2020 - Comments Account In Forbearance and Scheduled Payment Amount not reported, ( XXXX ) XX/XX/2020 - Comments Account In Forbearance and Scheduled Payment Amount not reported, and ( 3 ) XX/XX/2020 - Comments Account In Forbearance and Scheduled Payment Amount not reported ( Please see attached Equifax Credit Reports for Borrower and Co-Borrower Dated XX/XX/2020 ). 
When speaking to our bank in order to obtain a new mortgage for an investment property, we were told that this shows prior forbearance history on our credit and would negatively impact our ability to obtain any new loan. By not removing all Comments Account In Forbearance in XXXX, XXXX and XX/XX/2020 and not reporting the Scheduled Payment Amount for XXXX, XXXX and XX/XX/2020 on our Historical Account Information for our Loancare Account, this prevents us from working with our bank or other lenders. 
On XX/XX/2020, we contacted Equifax directly to request our Loancare Account on our credit report be corrected and updated as follows : in Historical Account Information : ( 1 ) remove all Comments Account In Forbearance in XXXX, XXXX and XX/XX/2020 and ( 2 ) report all Scheduled Payment Amount for XXXX as {$4300.00}, XXXX as {$4300.00} and XX/XX/2020 as {$4300.00} be entered and updated on our credit report, however, we were told that our creditor, XXXX, would need to update this information on our behalf since this is their Account. 
Therefore, we are demanding that XXXX  correct and update our XXXX  Account directly with Equifax as follows : In Historical Account Information : ( 1 ) XX/XX/2020 Remove Comments Account In Forbearance and report Scheduled Payment Amount for XXXX as {$4300.00}, ( 2 ) XX/XX/2020 Remove Comments Account In Forbearance and report Scheduled Payment Amount for XXXX as {$4300.00}, XXXX XXXX ) XX/XX/2020 Remove Comments Account In Forbearance and report Scheduled Payment Amount for XXXX as {$4300.00}. 
As you are aware, by not removing Comments : Account In Forbearance in XXXX, XXXX and XX/XX/2020 and not reporting the Scheduled Payment Amount for XXXX, XXXX and XX/XX/2020 under Historical Account Information on our Equifax credit report, this is negatively impacting our credit history and credit scores, which is preventing us from working with any lenders on obtaining a business loan since it is reporting a forbearance history on our Loancare Account, which we have disputed entirely from the beginning due to your erroneous credit reporting. 
Again, our XXXX Account should never have been put in forbearance status and we are demanding that you clear all forbearance history off our Equifax credit report. 

EXPLANATION OF CORRECTION OF ERROR : Our XXXX  Account Was Erroneously Placed In Forbearance Status And Was Removed On XX/XX/2020. 
Our XXXX Account was never in forbearance and therefore, should never have been reported in forbearance status, but was due to your system error which your company have admitted it automatically placed our account in forbearance even after we cancelled the forbearance request on XX/XX/2020, which it should never have happened. Your system automatically reported on XX/XX/2020 IN ERROR to the credit reporting agencies, even AFTER our forbearance was cancelled, which your company has acknowledged this was a system error. 
On XX/XX/2020, your company recognized your system error had erroneously placed our Loancare Account in forbearance status and therefore, removed the forbearance off our Loancare Account and updated the four major consumer reporting agencies : Equifax, XXXX, XXXX  and XXXX ( Please see attached Letters from Loancare Dated XX/XX/2020 and XX/XX/2020 ). 
Therefore, our XXXX Account should never have been placed in forbearance nor have any indication of any forbearance history. We are demanding that you clear all forbearance history off our Equifax credit report. 


FINAL RESOLUTION : Loancare To Update Our EQUIFAX Credit Report by Correcting The Errors On Our Loancare Account In Historical Account Information For ( 1 ) XX/XX/2020, ( 2 ) XX/XX/2020 and ( 3 ) XX/XX/2020 : By Removing All Comments Account In Forbearance and Reporting All Scheduled Payment Amount For Each Month. 
We are demanding that you clear all forbearance history off our Equifax credit report. In order to do so, we are demanding a final resolution that your company correct and update our Equifax credit report regarding our Loancare Account under the Historical Account Information for XXXX, XXXX and XX/XX/2020 as follows : ( 1 ) XX/XX/2020 Remove Comments Account In Forbearance and report Scheduled Payment Amount for XXXX as {$4300.00}, ( 2 ) XX/XX/2020 Remove Comments Account In Forbearance and report Scheduled Payment Amount for XXXX as {$4300.00}, ( 3 ) XX/XX/2020 Remove Comments Account In Forbearance and report Scheduled Payment Amount for XXXX as {$4300.00}. 
See attached Equifax Credit Report : XXXX XXXX Account Information for Borrower & Co-Borrower Dated XX/XX/2020. 
Please provide us a letter stating the above, that our XXXX  Account has been corrected and updated with Equifax to report our Historical Account Information for XXXX, XXXX and XX/XX/2020 that ( 1 ) all Comments Account In Forbearance has been removed and ( 2 ) all Scheduled Payment Amount for XXXX, XXXX and XX/XX/2020 has been reported. 

SUPPORTING DOCUMENTS Please See Attached Documents : 1. Equifax Credit Report : XXXX XXXX Account Information for Borrower Dated XX/XX/2020 XXXX. Equifax Credit Report : XXXX XXXX Account Information for Co- Borrower XXXX XX/XX/2020 3. Letter from XXXX : Account Removed from Forbearance Dated XX/XX/2020 4. Letter from XXXX Removed Forbearance Dated XX/XX/2020 We look forward to an immediate and expedited final resolution. We thank you in advance for your time and effort in concluding this matter on our behalf with Equifax.

Company response to consumer: Closed with explanation