Consumer complaint received 2021-03-02
Company: EQUIFAX, INC.
State: MO
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: Their investigation did not fix an error on your report

Complaint:
My dispute is against XXXX and Equifax. 

On, XX/XX/XXXX I took out 2 student loans with XXXX. 
According to Federal code 10 years is how long good credit should be reported on, as long as there are no derogatories or late payments. 

During my loan repayment period, with XXXX, I was never late and certainly no derogatories. 
XXXX reported " Excellent payment History '' on all 3 reporting credit agencies reports of mine. 
XXXX and Equifax both are improperly reporting XXXX. I have even won this dispute with both of them as I did with XXXX and they reported on it properly and have since my first dispute. 

I have contacted both creditors and disputed this repeatedly since XX/XX/XXXX, in preparation for my home loan. 
The reporting agencies have stopped reporting on my " good credit '' the bureau 's even though it is on my credit report and required by federal law to be reported on if it is listed until it is removed, are not utilizing the fact that I have paid on these loans for 240 months. My credit is suffering because they are failing to report properly. On my credit report Equifax and XXXX state : " there are few accounts paid on time '' and " no former loan activity. '' My XXXX student installment loan, under the title, " status '', my student loans are labeled " CLOSED. '' Proper labeling under Federal code says revolving credit should be labelled " CLOSED '' on credit cards or other types of revolving credit but not on installment loans. Proper verbage for installment loans under " status '' when paid in full and closed, ( like my loans ) should read, " paid in full '' or simply " paid ''. 
The improper reporting is causing conflicts with my loan since they have the wrong label it looks as if I can still use the account but it's closed and/or the loan is not paid in full. 

I have begged, cried and pleaded, sent proper information, spoke to managers and supervisors, called the XXXX XXXX XXXX to no avail. 
As per the bureaus inaccurate reporting, " few accounts paid on time, " no loan activity '' and, " high credit usage '' my credit and myself are greatly suffering. 

I'm terrified, I'm not going to get a home. The bureaus lack of action has cost me tons of money a higher interest rate a lot of stress no sleep and I suffer from XXXX XXXX so I'm very sick from this whole situation I'm on XXXX and I don't have a lot of money I don't know what to do anymore I've worked so hard to make sure my credit is in good standing and for something as small as verbage to be ruining it is very disheartening. 
The " open account '' as the bureaus are listing my accounts are effect my DTI. 

I am in the mist of a student loan I've already had to do this once because of this wrongful reporting and now, at a lower credit score and in result of that a lower interest rate ... the lender are going to run my credit again. 

Anything you can do to help me would greatly appreciated. 
Time is of the utmost importance. 

Thank you very much XXXX XXXX

Company response to consumer: Closed with explanation