Consumer complaint received 2018-05-21
Company: Experian Information Solutions Inc.
State: CA
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:
I XXXX XXXX make a claim to each credit reporting agency ; i.e., Experian, XXXX XXXX and XXXX, as a subscriber to your companies to report adequately is in serious violation. As you can see, there are two bureaus showing XX/XX/XXXX as the first reported 30-day late payment, and XXXX  showing XX/XX/XXXX. Realistically the late payments started in XX/XX/XXXX, but XXXX XXXX XXXX has cut off two years of payment history to re-age the credit trade line, which is a serious concern to the Federal Trade Commission. The charge of {$3400.00} was from an overage on mileage on a vehicle lease. The timeline to file a civil action has passed, and the federal guidelines, and the 7-year rule applies as the first reported late shows over the legal time limit. As stated in the Fair Credit Reporting Act : ( A ) In general, if after any reinvestigation under paragraph ( 1 ) of any information disputed by a consumer, an item of the information is found to be inaccurate or incomplete or can not be verified, the consumer reporting agency shall ( i ) promptly delete that item of information from the file of the consumer, or modify that item of information, as appropriate, based on the results of the reinvestigation ; and XXXX ii ) promptly notify the furnisher of that information that the information has been modified or deleted from the file of the consumer. [ Emphasis added. ] I desire an updated credit report showing a full reinvestigation of the account at the beginning of this credit dispute. I am well within my rights requesting this reinvestigation under the Fair Credit Reporting Act, the Fair and Accurate Credit Transactions Act and the Fair Debt Collection Practices Act. I anticipate a full re-investigative credit report within 30 days.

ITEMS MAY HAVE SURPASSED LEGAL TIMELINE TO MAINTAIN ON RECORD Case in point, if a credit card payment was late 84 months ago, and since that time the credit card was paid in full, settled for less than full balance, or charged off by a federally insured bank as mandated under Federal Deposit Insurance Corporation Rule 5000,  applicability of applying a charge off standard to debt service, then the creditor must report the true payment history on the credit trade line for a minimum of 84-months. The Federal Trade Commission has levied fines and penalties against creditors for using a re-aging process totally in violation of the Fair Credit Reporting Act guidelines.

Re-aging of debts have been used by the Internal Revenue Service by re-issuing federal tax liens with a new fining number when the 10-year rule timeline was running out. It is used by creditors as a means of  stalling or delaying ones credit rating, simply by cutting off several years of previous payment histories. 
Accordingly, XXXX XXXX XXXX XXXX is in violation to their subscriber agreement with each credit bureau and must delete the referenced account credit trade line permanently.

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