Consumer complaint received 2022-09-13
Company: ARVEST BANK GROUP, 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: Investigation took more than 30 days

Complaint:
In XX/XX/XXXX I went on forbearance due to Covid-19 I was told by Arvest Central Mortgage it was covered under the CARES ACT and would not affect my credit in XX/XX/XXXX2021 I resumed making my payments and to stay on good terms Did a loan modification I was again told it would not affect my credit I started taking steps to refi and pay down some other debt For questions regarding this account please contact : ARVEST CENTRAL MORTGAGE XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX AR XXXX ( XXXX ) XXXX On XX/XX/XXXX Received text from XXXX XXXX  XXXX XXXX  Account ending in XXXX within 100 $ of limit XXXX  XXXX XXXX XXXX XXXX XXXX  XXXX XXXX XXXX SD XXXX Confused because other than XXXX monthly charge keep card active not used in more than a year Limit was dropped to just above what was owed XXXX $ credit limit it was lowered over XXXX $ I assumed it was due to low usage did not look into other than to call XXXX bank to explain my situation I requested a restore limit I talked to someone with a thick accent named XXXX he had to request restore for me and told me it was Denied this time in a letter ( XXXX ) no letter received Eventually I realized that XXXX  XXXX XXXX XXXX had also dropped one of my credit limits down to {$100.00} I called them and I was able to get a explanation letter mailed to me XXXX it explains that I had derogatory remarks on my Credit regarding Mortgage late and missed payments I explained that this was not a legitimate hit on my credit and they initiated a dispute with XXXX XXXX the credit company that reported it I have not received the results from that dispute my credit limit is still {$100.00} for XXXX XXXX XXXX For questions regarding this account please contact : XXXX XXXX  DC XXXX XXXX XXXX XXXX, GA XXXX XXXX XXXX ) XXXX I am submitting the letter I received from synchrony regarding my XXXX XXXX XXXX it shows on there the derogatory remarks on my credit and why my credit score was lowered to XXXX as of this day I have not been able to get a letter from XXXX after several requests on an explanation in writing why my credit limit was lowered over {$10000.00} At this point I was able to get some credit reports mailed to me but there was nothing I could see regarding my mortgage any statements or derogatory remarks have been removed However I was able to get a report from credit karma from back in XXXX of this year when it hit my credit in XXXX it lowered my credit score to XXXX causing several accounts to change my credit standing and all of this happened at a time where I was trying to do a refi on my mortgage so it lowered my score then it was removed. Before mortgage company pulled my credit in XXXX so my mortgage guy and the company writing the new loan didnt see the actual reporting of the late or missed payments from arvest central mortgage but the damage was apparent and it raised my house payments over {$300.00} a month with the new company By the time I was able to investigate what the problem was new loan was written and so now Im on the hook for {$1300.00} a month my house payment which is over {$300.00} more than I was paying and if I dont somehow mitigate those damages I will have to sell my house I had no plans to do so On XX/XX/XXXX I spoke with XXXX from Arvest central mortgage after explaining my issue she stated that I was protected under CARES ACT until I came out of forbearance and then they could report it. She said that I was in a partial payment agreement she said that I had missed three payments and she was unaware of a loan modification I told her that what she was reporting to me was not correct that I hadnt missed any payments and I had done a loan modification and was never on a partial payment plan after speaking to her team leader name XXXX she informed me that the derogatory remarks were removed from my credit before the loan was closed and I told her that they should have never been reported on my credit and it had to of been a mistake and she admitted yes it was a mistake and it was removed however the damage has been catastrophic and Im not sure how to fix it It has cost me a lot of money damaged my credit and raised my house payment over {$300.00} a month for starters Im not even sure how deep the damage goes It is currently on all 3 of the reporting agency reports My score has rebounded somewhat but for someone who has no late or missed payments it is still quite low ( XXXX ) and looking at my current report there are several conflicting statements from Arvest making it very hard to understand XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MO XXXX ( XXXX ) XXXX

Company response to consumer: Closed with explanation