Consumer complaint received 2018-04-05
Company: Experian Information Solutions Inc.
State: WI
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
I filed a dispute by phone for all of my XXXX student loan accounts listed on XXXX, XXXX, and Experian on XX/XX/XXXX. After going through my credit report and comparing the information XXXX   listed with the above agencies to what was listed on my online account with XXXX, I notice multiple discrepancies : 1. When I filed my dispute on XX/XX/XXXX XXXX was listing wrong dates as well as the wrong original amount borrowed for my student loan accounts listed with the above agencies. On XX/XX/XXXX XXXX made corrections to most of the accounts that contained the wrong amount borrowed and the wrong date of disbursement. On XX/XX/XXXX experian emailed me a notice that my dispute was closed and my information was updated. I immediately contacted experian and ask why and how XXXX could verify information that was not correct. I was told that experian was set up for the creditors and if the creditors verified that the information was correct than no matter what I submitted the information would be listed exactly how the creditor reported. I asked the agent about following the law in accordance with the fair credit report act which states that accounts that have wrong information listed will be deleted. New information by the creditor is only allowed to be placed back on a consumer account after the creditor informs the consumer in writing that the information will be reported to the credit bureau. Experian never removed the accounts that were improperly reported by XXXX and I never received a written notice from XXXX that they were updating my loan information in response to my dispute. Based on these two things alone, every loan account updated by XXXX in response to my dispute should be permanently removed from my credit bureau accounts. Even with the illegal updates, XXXX still listed a couple of my student loan accounts with the wrong amount. 
A. Attached is a copy of an account overview printed on XX/XX/XXXX from my online XXXX account. It can clearly be seen that the total loan amount XXXX listed with the above agencies of $ {$390000.00} differs from what is listed on their website in the amount of $ {$360000.00}. I also include a print out showing the total loan amount reported by XXXX and listed with Experian. Please take Notice that the total student loan amount is reported the same with all three credit agencies. 

2. XXXX duplicated the consolidated loans they listed with the above agencies. 
A. XXXX listed the loans that were consolidated in XX/XX/XXXX with credit agencies as {$270000.00} with the original loan date of XX/XX/XXXX.  The original loan date is listed online with XXXX as XX/XX/XXXX and, the original amount of the loan is listed as {$45000.00} with a current amount owed of {$130000.00}. This loan was duplicated in error on their website which when added gives a total amount owed of XXXX Please take notice that after reviewing information from the National Federal Loan Database I was able to see that my XXXX loans were consolidated in XX/XX/XXXX in the amount of {$31000.00} and my XXXX   loans totaled {$43000.00}. These two loans totaled {$75000.00} and a consolidation of these two loans was completed on XX/XX/XXXX and disbursed on XX/XX/XXXX in the amount of {$91000.00}. I agree that a consolidation took place in XX/XX/XXXX but I do not agree with nor understand how XXXX came up with the consolidation amount of {$91000.00}. I also do not understand why XXXX divide the single consolidated loan amount in half and listed it as two individual loans in the amount of {$45000.00} with the same loan disbursement date. On XX/XX/XXXX I asked these two question to a XXXX supervisor. The supervisor explained to me that he saw three loans in the amounts of approximately {$16000.00} from XXXX XXXX XXXX, {$31000.00} for my XXXX loans, {$43000.00} from my XXXX loans, {$1000.00} for interest and late fees all totaling the consolidated amount of {$91000.00}. I informed him that there was no {$16000.00} loan listed on the National Federal Database and all of my loans prior to XX/XX/XXXX according to the National Loan Database totaled {$75000.00}. I asked where the {$16000.00} came from and why the single consolidated loan was divided into two loans. He told me that the {$16000.00} came from a consolidated loan transferred to them but he could not tell me any information regarding the year, school or the original amount of the loan. He also said that he did not know why the single consolidated loan was divided and listed as two separate loans. He assured me that it was no big deal that the loan was divided cause each loan together still totaled the same amount and both loans had the same interest rate. I informed him that even though the loans started out with the same amount and same interest rate, the loans are now showing two different amounts owed. One of the loans is listed at {$130000.00} unpaid principal and the other loan is listed as {$130000.00}. I also pointed out that a single consolidated loan of {$75000.00} would never become {$270000.00}. He agreed and said that he would put in a request to have research done on the questions I asked him about. I expressed to him that I did not trust XXXX and I wanted to know exactly how each consolidated loan amount was determined, proof and explanation of how the interest and penalties were calculated to give me current loan amounts and I also asked for the name of the Universities the loans were disbursed to as well as every promissory note bearing my signature. I told him that i should not have to pay for anything they could not produce proof of a signed promissory bearing my signature during a time period I was actually attending school. I also told him that because the amounts were improperly reported to the credit bureaus that they should be immediately removed. 

3. The consolidated loans are not only duplicated the total amount is incorrect. 
A. Please view above explanation. 

4. XXXX listed loans from XXXX University School Of XXXX during a time period I did not attend XXXX University School Of XXXX. 
A. I did not attend XXXX University after XX/XX/XXXX. XXXX has me listed as receiving loans from XXXX University in XX/XX/XXXX. This is seen with the loans that have the wrong date and amount listed as XX/XX/XXXX in the amount of {$7200.00} and XX/XX/XXXX in the amount of {$5100.00}. Please take notice of the attached official transcripts from XXXX University that show my date of attendance. According to my transcripts my last loan disbursed to XXXX University School Of XXXX would have been issued in XX/XX/XXXX. 

5. XXXX closed out all of my loans and refinanced them without my consent or knowledge. 
A. In XX/XX/XXXX XXXX closed all of my student loan accounts and reported to the above credit agencies that the loans were bought out or transferred to another lender. The other lender was XXXX and these new student loans were refinanced without my consent or knowledge. XXXX 's action also left 14 closed student loans on my account that creditors can view negative reporting for pass payment history. Please see attached credit report as proof of the above statement. 


6. XXXX Listed loan amounts with the above agencies that I never applied for. 
A. I never borrowed more than {$5000.00} at one time from a subsidized or unsubsidized loans from XXXX University School Of XXXX. XXXX is claiming that I borrowed {$10000.00} and {$8500.00} twice once on XX/XX/XXXX and again both amounts on XX/XX/XXXX ; this is completely untrue. I believe they combined two semesters of payments equalling one school year and listed it as coming out at one time on one date. In doing so, they not only reported a large incorrect loan amount, they also duplicated loans by reporting the individual semester loans as well. Not to mention I only did one quarter in XX/XX/XXXX got home sick and didn't return to school until XX/XX/XXXX.  Therefore, these amounts would be impossible to reach in XX/XX/XXXX. This is further supported by the fact that on my online XXXX account they have the {$10000.00} and {$8500.00} listed as the original amount borrowed on XX/XX/XXXX but they list the unpaid principal amount owed as {$6200.00} for the {$8500.00} loan and the unpaid principal amount of {$8900.00} for the {$10000.00} loan. Keeping in mind that I never paid on these two accounts, how is it possible for the principal amount owed to be lower than the amount borrowed? The answer is that it is not possible. XXXX has charged me with a loan amount that I did not authorize. Please take notice of the attached pdfs printed from my online XXXX account on XX/XX/XXXX that show the above disbursement amount. 

In lite of the written and attached evidence, I am requesting that your agency assist me in removing every account XXXX has listed with the above credit agencies under my social security number. XXXX is liable for knowingly overcharging and falsely charging me with loans that I did not authorized and they have violated my rights in multiple ways in accordance with FCRA. Therefore, I am also asking for help in filig a lawsuit against XXXX for financial and emotional damages. Reporting incorrect loan amounts has made my debt ratio so high that it made it impossible for me to qualify for a home mortgage loan or a low interest auto loan. What XXXX has blatantly done to me is unacceptable and they should be held accountable for their actions.

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 non-monetary relief