Consumer complaint received 2018-01-09
Company: EQUIFAX, INC.
State: TX
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: Problem with personal statement of dispute

Complaint:
This Complaint is in response to the XXXX XXXX, XXXX letter I received regarding my goodwill request to have late payments removed from my credit score report. In the letter I was told that such reports could not be removed due to regulations promulgated by the DOE and the FCRA. Contrary to these assertions, by failing to update previously reported information, Department of Education/XXXX is in violation of Section 623 ( a ) ( 2 ) of the FCRA.

I have attached an FTC advisory opinion which interprets Section 623 ( a ) ( 2 ) of the FCRA. The issue posed in the advisory opinion is how a lender is to handle a situation when subsequent information updates a report that was allegedly accurate when it was made but no longer is accurate in the present time ( i.e., the identical situation I am currently in ).

The advisory opinion states that the Section 623 ( a ) ( 2 ) of the FCRA addresses the duty to correct and update information by furnishers, or persons who furnish informatio n to consumer reporting agencies ( CRA ) such as credit bureaus. In particular, this section requires a person that has furnished to a consumer reporting agency information that the person determines is not complete or accurate to promptly notify the consumer reporting agency of that determination and provide any information needed to make it co
mplete and accurate. Thus, on its face, this provision requires a furnisher to provide corrected or updated information to the consumer reporting agency that it had reported to originally. This duty extends to all student loan accounts reported to CRAs, regardless of whether they were accurate at one point, because the section requires the furnisher both to update accounts as well as to correct. 
, Department of Education/XXXX representatives told me that because the delinquent payments were accurately reported in XXXX of XXXX that any subsequently initiated deferments would not allow for, Department of Education/XXXX to update reports to CRAs to show that the payments were not late and actually in deferment. However, Section 623 ( a ) ( 2 ) clearly shows that the reports must be updated/corrected regardless of whether they were accurate at one point. * All of my, Department of EducationXXXX accounts that were part of the XXXX XXXX late payments show deferment status effective as of XXXX/XXXX/XXXX. Therefore, my credit reports do not currently accurately reflect previous payment statuses with, Department of Education/XXXX, both as they actually existed and as XXXX has recorded them. I am thus requesting that in compliance with Section 623 ( a ) ( 2 ) of the FCRA that the three accounts showing a 60-day late payment in XXXX XXXX be updated and/or corrected and removed. 
In the event that these reports are not immediately updated to accurately reflect my payment status during XXXX XXXX, I intend on filing disputes with each credit bureau in addition to official complaints with the FTC, and the BBB, and pursue other legal routes if necessary.

Company response to consumer: Closed with explanation