Consumer complaint received 2019-05-24
Company: EdFinancial Services
State: PA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I paid off my student loan, via the Edfinancial Services website, on XX/XX/2019. The amount of {$100.00} was listed as the final payment on this loan. Eight days later, on XX/XX/XXXX, a random amount of {$0.00} showed up on my online account. That random amount has been paid as well. 

On XX/XX/2019, while checking my credit, I noticed a 90 day delinquency in the amount of {$1.00} had been reported to the credit bureaus by Edfinancial Services in XX/XX/2019. I called Ed Financial Services twice on XX/XX/XXXX, at XXXX XXXX   and XXXX XXXX, to inquire about the {$1.00} that was reported to XXXX, XXXX, and XXXX. Both customer service representatives I spoke with that evening stated that my account is paid in full, it is now closed, and that it has never been reported delinquent to any credit bureaus. They both stated the account has always been listed as Active in the past. Furthermore, neither representative could find or provide any information or proof of the {$1.00} amount I allegedly owed and that had been reported to the credit bureaus as delinquent. 

I followed up those calls to Edfinancial Services with calls to XXXX, XXXX, and XXXX on XX/XX/2019. I also filed disputes with all three credit bureaus regarding this {$1.00} matter. 

On XX/XX/2019, I called Ed Financial Services again after noticing that my credit score dropped nearly 200 points because of this {$1.00} delinquency. I spoke with two CSRs, XXXX and XXXX, and both stated that my concerns about my account would be sent to upper level managers for review. XXXX also stated that he would add his own notes and make sure a manager called me back within 48 hours. I followed up those phone calls with a letter sent via email to Ed Financial Services on XX/XX/2019, asking to have the {$1.00} delinquency removed from my credit reports since no one at Ed Financial Services could explain or prove to me that I owed {$1.00} and because the CSR 's stated that my account has never been reported as delinquent. 

On XX/XX/2019, at XXXX XXXX, a manager with Edfinancial Services called to inform me that nothing can be done to remove the delinquency from my account. When I pressed him further on where this {$1.00} amount came from, how it was calculated, and why its not listed anywhere on my online account, the manager stated that it was actually {$0.00} that were delinquent and not {$1.00}. He stated that they just rounded off the amount to {$1.00} in order to report it to the credit bureaus but he could not explain where the random {$0.00} came from. Shocked by his response, I asked to speak to another manager above him, however, he stated that there was no one else I could talk to and that XXXX, the Customer Care Supervisor, and other upper level managers, do not have access to phones in their offices. He refused to transfer me to anyone else. I asked him for proof in writing of the entire conversation and proof that a {$1.00} delinquency never existed as is stated in my credit reports. He stated it will be emailed to me in 7-10 business days. I called back at XXXX XXXX  and asked to speak to XXXX but was told she was not available and that she would call me back. I have not received a call. 

This matter needs to be resolved immediately. I am again asking Ed Financial Services to remove and permanently delete the erroneous delinquency from all of my credit reports as soon as possible. As noted above, the Ed Financial Services manager confirmed to me that I never owed {$1.00} and that Edfinancial Services changed the amount from {$0.00} to {$1.00} in order to report it to the credit bureaus. Furthermore, my online account, of which I have included a copy, does not show a {$1.00} delinquency anywhere. The random {$0.00} showed up on my account 8 days after I had made a full payment of {$100.00} and that random amount of {$0.00} is also not listed as delinquent. Going even further, a separate statement I just found while going through this account online now states that an amount of {$100.00} was due on XX/XX/2019. This is now THREE different amounts shown as the final payment for this account : {$100.00} ; {$0.00} ; and {$100.00}, even though all CSR 's I have spoken to have confirmed that the account is paid in full and is now closed. Furthermore, if the payment was due on XX/XX/XXXX, that means I made a payment almost a month in advance on this account. 

The reality is that all of this seems to have been falsely reported to the credit bureaus and its stunning, shocking and disappointing to learn that Edfinancial Services is choosing to ruin my outstanding credit of more than 20 years over {$0.00} that I do not believe I ever owed and that they cant even explain. It makes me wonder how many other accounts are being charged in this manner. For Edfinancial Services to randomly inflate the {$0.00} to $ XXXX regardless of the amount - for the sole purpose of reporting my account to the credit bureaus, knowing the serious financial consequences it will have on my credit for years to come, is also deeply concerning to me as a consumer, and Im sure it would be deeply concerning to other borrowers and the general public as well. How many credit reports have been ruined in this manner by Edfinancial Services? The public has a right to know. Im far from being the only person in this situation. According to reports listed online, Edfinancial Services has more than 1.2 million complaints from borrowers and a large percentage of those complaints have to do with the way Edfinancial Services reports to the credit bureaus and how it calculates payments. 

Enclosed are copies of my online account statements and electronic payments made to Ed Financial Services supporting my position. Please reinvestigate this matter ( s ) and delete the disputed item ( s ) as soon as possible.

Company response to consumer: Closed with explanation