Consumer complaint received 2018-12-18
Company: FIRSTBANK PUERTO RICO
State: PR
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 XX/XX/2018 I did submit a compliant ID # XXXX-XXXX via Consumer Financial Protection Bureau because of Credit reporting Incorrect information on your report on XXXX  showing the account with current past due balance and open with 11 current missing payments on my FirstBank Account # XXXX. The correct account Status : Account Closed on XX/XX/2018 Payoff Balance ( attached letter of Payoff of FirstBank ) I did dispute the wrong information on my credit report with XXXX, on the others credit report agency has no problem, the information is correct. 

I did make two disputes with XXXX. 

- XXXX Confirmation Number : XXXX - XXXX  Confirmation Number : XXXX On both disputes, the resolution of XXXX was that FirstBank indicated that the information on my credit report was correctly, leaving the account on my credit report with incorrect information about account status ( Open, with Current Past Due Balance, etc ) As no resolution from XXXX and/or FirstBank I did submit the compliant ID # XXXX-XXXX via Consumer Financial Protection Bureau with FirstBank and XXXX  because on my XXXX report indicated that my Leasing-Auto Loan with First Bank show a status of Open Account with current Past Due Balance of 11 missing payment late more than 120 days. 

On XX/XX/2018 - FirstBank answered the compliant with information reported incorrectly on my credit report. Account : XXXX. FirstBank request update information on XXXX as informed by creditor First Bank to XXXX  via XXXX XXXX XXXX XXXX control # XXXX Submitted on XX/XX/2018. XXXX SC : XXXX ( attached evidence ) After that XXXX  corrected the information as of XX/XX/2018 on my credit report ( attached evidence ) with the following information. 

FirstBank Closed Account Between XX/XX/2018 and XX/XX/2018, your FIRST BANK automotive account appears to have been closed. Between XX/XX/2018 and XX/XX/2018, your FIRST BANK automotive account balance decreased by {$11000.00} from {$11000.00} to {$0.00}. 
Lenders like to see that you have experience successfully managing your credit. Closing an account could affect your average age of credit history. Generally, you'll want to keep your oldest accounts active and in good standing in order to prevent them from being closed. 

On XX/XX/2018 I did receive an alert on my credit report of XXXX  indicating the following changes : Account status- Open Account ( Re-open ) FirstBank- Balance Increased by $ XXXX Between XX/XX/2018 and XX/XX/2018, your FIRST BANK automotive account balance increased by {$11000.00} from {$0.00} to {$11000.00}. 
It looks like your balance went up. This could be the result of a missed payment, which can have a negative effect on your score. Your total debt also typically factors into your credit score, so it's best to keep it low if you can. 

I did call XXXX  on XX/XX/2018 and the rep opened another ( 3rd one ) dispute # XXXX because XXXX  indicates that FirstBank is reporting the account Open, Past Due and with current Missing Payments ). I have no issue with the other credit report agencies, it is only with XXXX  and this account of FirstBank impacting negative my credit score/history on my credit report.

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