Consumer complaint received 2022-10-19
Company: Experian Information Solutions Inc.
State: VA
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:
On Wednesday XX/XX/XXXX, I applied for a mortgage loan with XXXX XXXX. This is the second time I have applied for a mortgage loan. As a result of erroneous, and inaccurate information on the part of XXXX XXXX and Experian which caused me to have very low and inaccurate credit score and other information that the bank saw, but was not on the credit report I pulled from The Credit Reporting Agencies. I was denied the loan, and also denied a loan with XXXX. I have could not obtain the loan with XXXX, until I placed my wife on the loan as a co applicant. I also am now obligated to pay a higher interest rate to XXXX as a result of the inaccurate information provided to lenders from XXXX XXXX, and Experian. I disputed two derogatory credit entries on my credit report, and they were removed. XXXX XXXX  and Experian still had me paying for accounts that had been closed for over six months. Account balances had not been properly updated. These accounts should have documented lower balances. Accounts that had been paid in full were not credited to my credit score or debt to income ratio. Even after disputing the information and the credit scores were raised. The credit scores that the lenders saw are significantly less than the scores I pulled myself from all three of those same credit reporting agencies. My Credit score as of XX/XX/XXXX, is XXXX in Experian. This is the same score XXXX XXXX  pulled on XX/XX/XXXX. 

The credit score I retrieved from Experian in XXXX shows my credit score as XXXX. The same scores are significantly lower when XXXX, and Experian credit scores are pulled by lenders. The scores the lenders see are over thirty points lower when pulled by a lender. In speaking with my lender, I was assured the XXXX they showed was quite accurate. The question I have is if I pull my credit score from the very same Credit Reporting Agencies the banks and lenders pull, and they list substantially different of credit scores than the scores the consumer pull from the same credit agencies. Which scores are accurate? I was applying for a loan based on what XXXX, Experian, and XXXX  were showing me on XX/XX/XXXX. Why are my bankers pulling credit on XX/XX/XXXX, XXXXand those scores are significantly lower than the scores that were pulled over a week earlier if the debt has not changed? XXXX, Experian, and XXXX  are purposely not updating consumers scores to show lower scores and cause lenders to increase interest rates to the consumers. This should be illegal, and they should be fined for it. 

When I fail to pay a bill or become delinquent in paying my bills the derogatory act becomes almost instantly documented on ones credit report when the lenders report it to the Credit Reporting Agencies. The same instant documentation by the Credit Reporting Agencies is not being updated in their credit files by these agencies when they have to remove erroneous credit information or update scores. 

These agencies have caused a delay in me obtaining a loan on my house earlier in XXXX, before the interest rates went up. This irresponsible and greedy act is causing me a delay in obtaining funds to build my house now. Can you please investigate my compliant of XXXX, XXXX, and Experians continued failure to accurately and timely update information that should be in my credit report as a consumer but is not doing their due diligence before the report information and not updating the information in a timely manner. This action has cost me a chance at obtaining another loan and another delay because I do not want to pay the higher interest rate and produce more money than I have available because the credit scores the bank can see is something totally inaccurate to what I think I am seeing. 

I am a United States XXXX XXXX veteran and a retired Police Officer working in XXXX, Virginia. Sixteen of my 25 years I spent XXXX XXXX I have tried to help this country and my community. I have tried to be a part of a solution and not part of the problem in serving my country and the community I live in. I am asking for your help to find peace. However, what the Credit Reporting Agencies are doing is helping big business get richer. You know this. Hopefully after receiving your help, I do not mind spending some of my retirement money on taking these companies to The United States XXXX XXXX. If I succeed in doing nothing but giving your agency enough ammunition to fine The Credit Reporting Agencies again, that will be money well spent. 

Thank You. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 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