Consumer complaint received 2020-06-24
Company: AES/PHEAA
State: UT
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: Investigation took more than 30 days

Complaint:
I recently filed a dispute with XXXX ( XXXX XXXX ) on XX/XX/XXXX, regarding my FedLoan Servicing and inaccurate 90 day late pays they had been reporting on my credit. I only filed a complaint with the CFPB after several attempts with no resolve. My accounts were in forbearance, I had submitted to FedLoan Servicing all approved forbearance letters etc. 

The false 90 day late pays have been reporting on my credit reports have had a negative impact for over a year on my ability to obtain a home loan. As a single mom, the sole provider of XXXX children, this has taken a toll on me emotionally. 

FedLoan Servicing even recently on XX/XX/XXXX denied my request to remove the negative reporting. 

It wasn't until on or around XX/XX/XXXX that FedLoan Servicing finally corrected their false reporting to the credit bureaus. Up until that point, my credit had been negatively affected for well over a year. 

While I am grateful that they have now corrected this. I find myself rather upset with FedLoan Servicings response to my complaint with CFPB. In their response they have reported " Based upon our review, unfavorable information for XX/XX/XXXX and XX/XX/XXXX was previously removed on XX/XX/XXXX due to a servicing error. This update was sent to the nationwide consumer reporting agencies in XX/XX/XXXX and has been reported the same way ever since. '' Their statement is false, as I have a recent XXXX  Credit report from XX/XX/XXXX showing the unfavorable information still reporting. It is disheartening to me. Quite honestly brings me to tears that this could and should have been updated in XX/XX/XXXX as they have reported that they did so. I have been unable to secure a home loan, I have later been told I could get a loan but that my credit would affect my rates. It has been an overwhelming emotional process. 

Had they fixed this in error in XXXX like they claim, I believe, my credit score would be better than where it is today with them removed. It would have allowed all my other efforts to have a much more positive impact. My credit score in XXXX of XXXX was in the Low 500s, and high 400s. 

I have attached the letter from FedLoan Servicing from XX/XX/XXXX where they stated no they were not removing the negative remarks. I have also included my XX/XX/XXXX Credit report. I have also included texts in XX/XX/XXXX between me and a Mortgage broker regarding the topic of these late pays keeping me from getting a home loan. 

I am elated that the error is finally corrected, however extremely disheartened that it took this long and this much effort for them to do so. With an already high housing market, which has gone up even more since then, FedLoan Servicing has quite frankly dropped the ball. I can not tell you how many sleepless nights I have had over this. As a single mother, its just me, so when this impacted my credit and ability to obtain a home loan it not only impacted myself, but my daughters as well. We have had to move in with my mother, which has caused so much turmoil. 

Additionally, because my sister and my mom were cosigners on a few of my loans, this has caused a negative impact on their credit. Which has put a strain on my relationship with them. 

I have attached the letter from FedLoan Servicing from XX/XX/XXXX where they stated, no they were not removing the negative remarks. I have also included my XXXX XXXX credit report verifying that the unfavorable remarks were still reporting. My credit report as of today shows them unfavorable remarks are removed. I have also included texts in XX/XX/XXXX between me and a Mortgage broker regarding the topic of these late pays keeping me from getting a home loan, as well as an email, where that same mortgage broker sent me my credit report and stated because of my scores I just wasn't there.

Company response to consumer: Closed with explanation