Consumer complaint received 2023-07-19
Company: Bread Financial Holdings, Inc.
State: NY
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Fees or interest
Sub-issue: Problem with fees

Complaint:
Dear Sir/Madam, I am writing to bring to your attention a concerning issue regarding the false report of late payments on my account with Victoria 's Secret. I believe this situation warrants your intervention and assistance in rectifying the inaccuracies on her credit report. 

I experienced significant difficulties in making timely payments due to the simultaneous occurrence of COVID-19 and Victoria 's Secret 's system outage. In XXXX, when she contracted COVID-19 and was subsequently hospitalized, I was unable to make payments through the online portal, as the system was down. This was confirmed by Victoria 's Secret 's representative, a manager with whom she spoke after my hospitalization. The manager assured me that late fees would be waived, and the late payment reports would be rectified due to the system crash. 

However, upon receiving her statement, I discovered that only the late fees for XXXX were waived, and the inaccurate reporting of late payments for XXXX, XXXX, and XXXX remained. This discrepancy is deeply concerning and requires immediate attention and correction. 

According to Victoria 's Secret 's own statement provided to the Consumer Financial Protection Bureau, a system update caused service interruptions and updates to credit reporting agencies were temporarily paused during a system enhancement that occurred in XX/XX/2022. The company admitted that these outages were frustrating and apologized for any inconvenience caused. Furthermore, they explicitly stated that to avoid potentially reporting inaccurate information, updates were paused during this system enhancement. 

It is evident that any reporting of late fees during the aforementioned months is inaccurate and should be rectified promptly. My credit report should reflect the accurate and true representation of her payment history during this period. As I am in the process of moving and seeking to secure housing, the inaccurate reporting of late payments could have severe implications for her future financial stability. 

I kindly request your immediate intervention in this matter to ensure that Victoria 's Secret corrects my account information accordingly. This correction should include the removal of the late payment report for XXXX, as it coincided with her battle against COVID-19, and the accurate reporting of XXXX and XXXX, as these were the months when the payment system experienced a crash. 

I would like to draw attention to relevant credit laws that protect consumers in such situations. The Fair Credit Reporting Act ( FCRA ) requires accurate and fair reporting of credit information, allowing consumers to dispute and correct inaccurate information on their credit reports. Additionally, the Equal Credit Opportunity Act ( XXXX ) prohibits discrimination based on factors such as XXXX, XXXX, XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX, or receiving public assistance. I expect fair treatment and compliance with these laws. 

Furthermore, it is worth mentioning that Victoria 's Secret has a grace period for the month of XXXX, which provided an opportunity for me to get her credit statement back on track. Unfortunately, the subsequent system crash hindered my ability to maintain regular payments. 

I urge the Consumer Financial Protection Bureau to use its authority to ensure the necessary corrections are made promptly and that my credit report accurately reflects my payment history. Your intervention is crucial in safeguarding her financial reputation and preventing any potential hardships she may face in securing housing or other financial transactions. 

I have enclosed relevant documents, including the statement provided by Victoria 's Secret to the CFPB, as supporting evidence. Should any additional information or documentation be required, please do not hesitate to contact me. I appreciate your attention to this matter and look forward to a swift resolution. 

Thank you for your assistance. 

Sincerely.

Company response to consumer: Closed with explanation