Consumer complaint received 2019-09-30
Company: PLANET HOME LENDING, LLC
State: VI
Product: Mortgage
Sub-product: FHA mortgage
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Planet Home Lending LLC ( PHL ), located at XXXX XXXX XXXX XXXX XXXX, XXXX, CT XXXX, has consistently and inaccurately represented payment history ; knowing they failed to provide necessary notifications and despite repeated attempts to resolve issues regarding inaccuracies. Having no other option, since they will not correct ( or at least provide complete information ), selecting rather to report and maintain inaccuracies, negatively impacting our credit score, we are filing a complaint with the CFPB. 

In or around XX/XX/2018, automatic debits were set up, by us, with PHL, to retrieve mortgage payments. Although PHL sent us confirmation showing that the automatic payment would be debited from our account for our next payment, for whatever reason, they did not retrieve the funds. Upon this realization, we contacted PHL, paid the amount in full, sent them the confirmation regarding the automatic debits, sent to us by them documenting their assertion that the draft was to be taken out. Nonetheless, they reported the payment as late. 

The first CSR we spoke with indicated that the error was indeed theirs and stated that the records would be updated. However, that never occurred. Many subsequent calls later, they eventually stated they needed twenty-five ( 25 ) days to review the records and make an assessment. When we followed up with them, we were told for the first time, that it may have taken up to thirty days for the debit process to initiate- a factor never disclosed to us at any time. We petitioned for them to update our records, since we were never notified about that thirty day window and in fact were informed of quite the opposite, but that only resulted in a report to the credit bureaus.

While we are not arguing that the responsibility remains ours, it is a shady and sloppy company indeed, that receives its payment in full, after improperly informing a consumer of that company 's policy/procedures - one that could have a negative impact on the consumer, a consumer that has been with the company for over a decade, the company is notified of their inaccuracy, but then files that report with the Credit Bureaus anyway. 

In addition, PHL also reported two payments as late in XX/XX/2018 and XX/XX/XXXX- neither was. 

Consumers have very little power against corporations, and rely on them to have sound policies and practices- particularly when those corporations have the awesome responsibility of negatively impacting that consumer for seven years at a stretch. For the most part, many corporations seem to respect that responsibility, while others, like PHL, do not. PHL rather, has abused that power. My experience with them, even beyond this one, has shown them to be sloppy at best and negligent at worst. Further, even though they have a legal duty to correct inaccuracies, they have failed to do so. 

This company 's practices and policies, should they exist, be investigated and they should be fined when they are found lacking.

Company response to consumer: Closed with explanation