Consumer complaint received 2018-04-23
Company: Experian Information Solutions Inc.
State: WA
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:
In XX/XX/XXXX I took out a Private Student Loan with XXXX that is now being serviced by XXXX XXXX XXXXXXXX, XXXX ( XXXX ). After graduating and beginning to pay my student loans, my credit score dropped considerably. I viewed an in depth XXXX report recently that revealed this student loan is being reported by XXXX to the credit bureaus as a revolving line of credit instead of an installment line of credit as a student loan should be. XXXX is reporting the " current balance '' and " beginning balance '', which results in a 93 % credit utilization score on my report as if this is an open/revolving credit account that I can still draw funds from, which like all student loans I can not and have not been able to since graduating college. They are also reporting the loan terms as " revolving '' according to Experian. The $ XXXX loan balance is lumping in with my credit card balance of revolving/ '' bad debt '', raising my total utilization percentage, and lowering my overall credit score. I wrote the following complaint to XXXX on XX/XX/XXXX : " Good afternoon, I am writing in regards to my XXXX student loan. I am contacting you because this loan is being reporting incorrectly to the credit agencies as a line of credit instead of a student loan. This is damaging my credit score due to the fact that it is being reported with an open/current balance and a " credit limit '', which appears to be the original loan amount, which is resulting in a Credit Utilization rating of 93 % as if this was a credit card or a revolving credit account that I could still draw funds from, which it is not. I can see that XXXX is reporting in the comments section " Credit line no longer available - in repayment phase ''. I do not understand how XXXX can be reporting this as a line of credit if in fact XXXX is aware there is no credit line available at this time, and is in fact reporting this information, although only as a comment. I would therefore like someone in your credit department to contact me as soon as possible to rectify this, as it has been damaging my credit score for a great length of time now due to the fact that this $ XXXX student loan is being lumped in with credit/revolving debt and driving up both my total revolving debt balance and my total utilization percentage. I would prefer to correspond via email and can be reached at XXXX. If that is not possible, I can be reached by phone at XXXX. Thank you, XXXX '' I received the following reply on XX/XX/XXXX : " Dear XXXX, Thank you for contacting XXXX XXXX XXXXXXXX. 

We are correctly reporting the loan as a revolving line of credit for education purposes. It is not considered an installment loan. We have requested a status letter be Emailed to you that will list : both loan ID number & number for the Line of Credit, as this is what other lenders see ; Original date of loan, original balance, current balance, amount/date of last payment and next required payment date. 

If we can be of further assistance, please call our office at XXXX. Representatives are available weekdays from XXXX XXXX. to XXXX XXXX. CST. 

Sincerely, Borrower Relations XXXX XXXX XXXX XXXX XXXX XXXX '' I then received the Status Letter on XXXX from XXXX XXXX ( information below ) that stated the following : " This letter is in reference to the Line of Credit or Private Loan through XXXX. At your request, XXXX XXXXXXXX XXXX is providing the following information on the account. '' <my account number, loan date, original loan amount, interest rate, repayment schedule, current balance, last payment date, next payment date were all included in a table here> " This loan is in repayment status. The loan # XXXX and the line of credit # XXXX are one in the same. 
If you have any additional questions, please contact us at XXXX. 

Sincerely, Client Relations Department XXXX XXXXXXXX XXXX, XXXX '' XXXX XXXX Administrative Support Representative XXXX XXXX XXXX XXXX, XXXX XXXX Wi XXXX XXXX I have attached the " Status Letter '' mentioned above from XXXX received onXX/XX/XXXX as well as my " XXXX report '' from XX/XX/XXXX which includes a few pages to show how the XXXX/XXXX loan is being reported as well as another private student loan for comparison.

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 explanation