Consumer complaint received 2021-12-09
Company: Experian Information Solutions Inc.
State: NC
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:
In XXXX of XXXX I bought my first car a XXXX XXXX XXXX. I have since been a loyal customer of XXXX XXXX with no late payments. I typically make my XXXX payments at the beginning of each month to XXXX in the amount of {$180.00}. In XXXX of XXXX I did my typical routine where I pay all my bills which what I believed at that moment that I was good to go until the next month. On XXXX XXXX, 30 days after XXXX payment was due I receive my FIRST and ONLY notification that they did not receive my payment. I immediately go into my usual process into paying all my bills including the XXXX XXXX loan. I pay the amount due of {$380.00} which is the two payments plus one {$20.00} late payment. 

Then on XX/XX/XXXX I start chatting with my XXXX  and I check my credit as I have been actively checking during a XXXX purchasing search and I notice a 100 point drop in my credit score. 100 points for 1 missed payment. I have never missed a payment in my life and I had my credit score drop 100 points. 

I franticly call XXXX XXXX on that same Monday ( XX/XX/XXXX ). They explain that it was late and they can only report the facts. I explain that I know this is true, but that there was no communication, no heads up, other then a notice when it was too late. I explain that there has to be a better way to tell someone they have not paid then a mailed letter when its already too late. I explained that this seems like a petty way of handling a loyal customer who had no previous issues. I continued to explain that this issue is going to cause me house purchasing issues when to me it seemed reasonable to re-age the credit due to lack of communication. The lady I speak to agrees that it was wrong, and is not fair but says she can not do anything and recommends I complain to corporate. 

On that same Monday I call each of the three credit bureaus ( XXXX, Experian, and XXXX ) and after plenty of automated messaging I finally speak to someone from each company. They each say the same thing and asking me to speak to the lender ( XXXX XXXX  ) I continue to let them know that I have and that they will not do anything, so at this point I am just trying to do damage control. I ask them WHY 100 points. It seemed extreme to me. I have missed ONE payment and it is now going to drop my credit score 100 points causing issues in my home purchasing process. This missed payment that caused the XXXX point drop will last on my record for 7 YEARS. XXXX XXXX XXXX XXXX  How in the world is this 1 missed payment equal to the punishment of a missed payment? 

I finish by saying that credit is very important. You use it for everything from purchasing a home, to setting up electric/water, to buying a car. I understand there are necessary punishments, but a company who is willing to submit a missed payment to the credit bureau should at least send an email with a heads up of a missed payment before they send it. A letter is nice, but does it do anything after the fact? None the less, if I do miss a payment is 100 points the correct way of handling it? 100 points is a crippling effect that does not seem fair. I have contemplated reaching out to XXXX but figured this would be a good first step. Thank you for your help.

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