Consumer complaint received 2023-03-31
Company: EQUIFAX, INC.
State: FL
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: Investigation took more than 30 days

Complaint:
Hello, I am writing to you regarding the inaccurate information being reported on my credit report by XXXX, account number XXXX. I have noticed several discrepancies in the information being reported by XXXX to the XXXX major credit bureaus, XXXX, XXXX, and Equifax. These inaccuracies have greatly affected my credit score, and as a result, my ability to secure loans and financial opportunities. 

According to my credit reports from all three bureaus, I was reported as being 30 days late on XX/XX/XXXX, even though I have not missed any payments on this account. Additionally, the monthly payment reported by XXXX and XXXX is {$55.00}, while Equifax shows {$46.00}. The Date Opened date reported by XXXX is XX/XX/XXXX, while XXXX reports XX/XX/XXXX. The XXXX reported by XXXX and XXXX is {$1000.00}, whereas Equifax shows {$900.00}. Furthermore, the High Credit reported by XXXX and XXXX is {$2100.00}, while Equifax shows {$0.00}. 

Moreover, there are discrepancies in the Last Reported Date and Date Last Active fields. XXXX and XXXX reported the Last Reported Date as XX/XX/XXXX, while Equifax reported XX/XX/XXXX. XXXX reported the Date Last Active as XX/XX/XXXX, while XXXX reported XX/XX/XXXX, and Equifax did not report this information. Additionally, XXXX reported the Date Last Active as XX/XX/XXXX, whereas XXXX and Equifax did not report this information. 

These discrepancies are in violation of the Fair Credit Reporting Act ( FCRA ) and the Fair and Accurate Credit Transactions Act ( FACTA ), specifically sections 623 ( a ) ( 1 ) ( A ) and 623 ( b ), which require credit reporting agencies to maintain reasonable procedures to ensure accuracy in consumer reports and provide consumers with the right to dispute inaccurate or incomplete information in their credit reports and have it corrected. 

XXXX XXXX. According to my credit reports from XXXX, Equifax, and XXXX, there are several inaccuracies regarding the account details for XXXX XXXX, account number XXXX. 

Firstly, the date opened for this account varies among the XXXX credit bureaus, with XXXX and Equifax reporting the date as XX/XX/XXXX, while XXXX reports the date as XX/XX/XXXX. This discrepancy needs to be addressed, as it is causing confusion and negatively impacting my credit score. 

Secondly, the reported balance on this account also varies between the credit bureaus, with XXXX and Equifax showing a balance of {$6100.00}, while XXXX reports the balance as {$6200.00}. This inconsistency needs to be corrected as it is causing further harm to my credit score. 

Thirdly, the credit limit for this account is also inconsistent among the credit bureaus, with XXXX and XXXX reporting the credit limit as {$6500.00}, while Equifax reports the credit limit as {$0.00}. This inaccuracy needs to be addressed as it is causing confusion and negatively impacting my credit score. 

I would like to point out that these discrepancies violate several consumer protection laws, including the Fair Credit Reporting Act ( FCRA ), Fair and Accurate Credit Transactions Act ( FACTA ), Truth in Lending Act ( TILA ), Real Estate Settlement Procedures Act ( RESPA ), and Equal Credit Opportunity Act ( ECOA ). 

XXXX XXXX XXXX According to XXXX and XXXX, the account type detail shows as an Auto Lease, while Equifax did not report any information about this account. Additionally, XXXX and XXXX reported the date opened as XX/XX/XXXX, while Equifax reported XX/XX/XXXX. 

Furthermore, XXXX and XXXX reported that I was 30 days late on XX/XX/XXXX, even though I did not miss any payments on this account. This error is negatively impacting my credit score and my ability to obtain financing for a home or car. 

I believe XXXXXXXX XXXX has violated the Fair Credit Reporting Act ( FCRA ), specifically Section 623 ( a ) ( 1 ) ( A ) and Section 623 ( b ), which require credit reporting agencies to maintain reasonable procedures to ensure accuracy in consumer reports and provide consumers with the right to dispute inaccurate or incomplete information in their credit reports and have it corrected. 

XXXX XXXX XXXX, is reporting a 30-day late payment on January 21, but I did not miss any payments on this account.

Furthermore, there are discrepancies among the three credit bureaus regarding the account type and details, date opened, and balance. XXXX and Equifax reported the account type as XXXX XXXX, while XXXX reported it as Lease. XXXX and Equifax reported the date opened as XX/XX/XXXX, while XXXX reported it as XX/XX/XXXX. XXXX and Equifax reported the balance as {$11000.00}, while XXXX reported it as {$10000.00}. 

These discrepancies have had a significant negative impact on my credit score and financial stability. As a result, I have been denied credit, including loans for a much-needed car purchase and a home mortgage. This has caused immense stress and frustration in my personal and professional life. 

I believe that these reporting errors are in violation of the Fair Credit Reporting Act, specifically Section 623 ( a ) ( 1 ) ( A ) and Section 623 ( b ), which require credit reporting agencies to maintain reasonable procedures to ensure accuracy in consumer reports and provide consumers with the right to dispute inaccurate or incomplete information in their credit reports and to have it corrected. 

According to the information provided by the credit reporting agencies, I have been 30 days late on payments for XXXX XXXX XXXX Auto Loan account number XXXX, which is not true. I have never missed a payment on this account. Furthermore, there are discrepancies in the account details reported by the different bureaus. 

XXXX or XXXX have reported that the account type-detail is Auto Loan, but Equifax did not report it. Additionally, XXXX or Equifax reported that the date opened was XX/XX/XXXX, but XXXX reported it as XX/XX/XXXX. Moreover, XXXX or XXXX reported the balance as {$14000.00}, while Equifax reported it as {$14000.00}. 

These inaccuracies are in violation of the Fair Credit Reporting Act ( FCRA ), specifically Section 623 ( a ) ( 1 ) ( A ) which requires credit reporting agencies to maintain reasonable procedures to ensure accuracy in consumer reports, and Section 623 ( b ) which provides consumers with the right to dispute inaccurate or incomplete information in their credit reports and to have it corrected. Additionally, the Fair and Accurate Credit Transactions Act ( FACTA ) violations, specifically Section 312 ( a ) ( 1 ) which requires credit reporting agencies to maintain reasonable procedures to ensure accuracy in consumer reports, and Section 312 ( b ) which provides consumers with the right to dispute inaccurate or incomplete information in their credit reports and to have it corrected.

These inaccuracies have had a significant negative impact on my life. As a result of the incorrect information on my credit report, I have been denied credit and loan applications, and have been unable to secure a favorable interest rate for the loans I have been approved for. This has made it difficult for me to purchase a home and a car, which are essential for my daily life.

Therefore, I am requesting that you enforce the legal requirements outlined in FCRA and FACTA and remove these unverified collection accounts from my credit report. I look forward to hearing from you soon. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation