Consumer complaint received 2023-08-14
Company: Village Capital & Investment LLC
State: NJ
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Dear Sir/Madam, I am writing to file a formal complaint against Village Capital Investment LLC . Loan # XXXX. 
This is regarding a wrongful Credit Reporting of a late payment to the credit bureaus. In support of my claim, on XX/XX/XXXX, I reached out to the abovementioned company, and they indicated that they had been having on going issues with their mail and that the late fee was at no fault of my own. Call reference/confirmation # XXXX. I provided the company with a copy of the check # XXXX dated XX/XX/XXXX, date it was also mailed. During the call, the representative asked me to pay the mortgage from XXXX and stated that given their mail issues he would vacate the late fee. During that call, I paid XXXX 's mortgage, but the company did not hold their promise. The following month, they deliberately decided to sell the loan to a new lender, with the late fee, and falsely reported it to the credit bureau. This is a VA Loan and throughout our tenure as customers, we always made timely payments and maintained a good credit history.

Village Capital & Investment LLC is well aware of their mail issues as expressed by them numerous times during other inquiries and communication. 
Village Capital late payment report to the credit bureaus, has negatively impacted our credit score and creditworthiness. Village Capital mail issues prevented us from making the payment on time, despite our repeated attempts to do so. 
On XX/XX/XXXX, upon notifying Village Capital of the issue, they once again acknowledged the mail challenge they are having and promised to vacate the late payment. However, instead, they kept the late fee, reported it to the credit agencies, and sold the mortgage account to a new lender with a late fee that the new lender claims they can not vacate. I believe that the actions of Village Capital & Investment, LLC are in direct violation of the FCRA, which mandates that accurate reporting should be observed by creditors. By reporting an inaccurate late payment, Village Capital & Investment, LLC., has caused significant damage to our creditworthiness. This erroneous reporting has not only affected my ability to secure future loans or lines of credit but has also subjected me to undue stress and inconvenience. I kindly request you, Consumer Financial Protection Bureau, to thoroughly investigate this matter and take appropriate action against Village Capital & Investment , LLC. I believe that remediation such include the immediate removal of the late payment from my current loan and from my and my husband 's credit report accordingly.

I trust that the CFPB will conduct a fair and thorough investigation into this matter and take the necessary steps to rectify the damage caused by Village Capital & Investment, LLC., negligence.

Thank you for your attention to this matter. I look forward to a prompt resolution and favorable outcome.

Company response to consumer: Closed with explanation