Consumer complaint received 2023-08-05
Company: Experian Information Solutions 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:
Hi, I hope this letter finds you well. I am writing to file a formal complaint regarding a significant issue with the reporting of my credit information on my Experian credit report. I have encountered numerous challenges in attempting to rectify this matter with the involved parties, and I am seeking your assistance in resolving it. 

The issue at hand involves multiple inaccuracies related to my XXXX loans on my Experian credit report. Specifically, I have observed the following discrepancies : Incorrect Number of Charged-Off Loans : I am aware of six XXXX  loans that were charged off. However, my Experian credit report displays a total of seven charged-off XXXX loans, which is an inaccurate representation of my credit history. 

Multiple Collections Companies Reporting the Same Debt : After the charge-off, my XXXX  loans were reportedly sold or transferred to three different collections agencies, namely XXXX XXXX, XXXX, and XXXX XXXX. Despite this, XXXX continues to " own '' these charged-off accounts on my credit report. Consequently, the collections agencies have been unable to update the credit bureau themselves, as they " do not own the debt, but only report to XXXX. '' Paid-off Loans Not Updated : Four out of the six XXXX  loans were paid in full or settled between XX/XX/XXXX and XX/XX/2023. However, my Experian credit report still reflects these loans as " charged off and unpaid, '' which is misleading and inaccurately represents my credit standing. 

Unresponsive and Uncooperative XXXX Customer Service : I have attempted to address these issues by reaching out to Affirm through email and phone calls. Unfortunately, I was met with unhelpful responses, stating that the information on my credit report is " accurate, '' despite the evident inaccuracies. 

Dispute with Experian Unsuccessful : In my efforts to resolve this matter, I disputed the accuracy of the negative accounts with Experian. Regrettably, they asserted that the information provided by XXXX was accurate and thus could not be removed. 

I firmly believe that these inaccuracies have significantly impacted my creditworthiness and financial standing. As a responsible consumer, I have taken appropriate measures to address my financial obligations, yet the misreporting persists, hindering my ability to access credit and financial opportunities. 

I am hopeful that your intervention will result in a prompt resolution of this matter and restore the accuracy of my credit history. I am prepared to provide any additional documentation or information necessary to facilitate the investigation. 

Thank you for your attention to this complaint. I eagerly await your response and cooperation in resolving this pressing issue.

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