Consumer complaint received 2023-10-27
Company: EQUIFAX, INC.
State: CA
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
Dear Consumer Financial Protection Bureau, I am writing to file a formal complaint against XXXX ( XXXX XXXXXXXX XXXX XXXX XXXX ) and the Department of Education regarding an ongoing issue with the reporting of my student loans to the major credit bureaus : XXXX, Equifax, and XXXX. Despite XXXXDept of Ed no longer servicing my student loans, they continue to report inaccurate information, which is negatively affecting my credit. 

1. Loan Status : My student loans were transferred from XXXXDept of Ed to a different loan servicer. However, XXXXDept of Ed has consistently reported these loans as active and delinquent on my credit reports, even after the transfer. 
2. Inaccurate Information : The incorrect reporting has resulted in a significant drop in my credit score, making it difficult for me to secure credit, obtain reasonable interest rates, or even rent an apartment. 

3.Communication with XXXX/Dept of Ed : I have made numerous attempts to contact XXXX and the Department of Education to resolve this issue. Despite my efforts, the inaccurate reporting continues.

4.Impact on My Financial Well-being : The inaccurate reporting by XXXXDept of Ed has had a direct and negative impact on my financial well-being. It has caused me undue stress, limited my financial opportunities, and has affected my ability to access essential services. 
5. My current loan servicer is correctly reporting my loan debt but because of XXXXDEPT OF ED reckless reporting to all of the above mentioned agencies the amount of debt on my consumer report is doubled ( which includes current debt in addtion to the debt that XXXX/DEPT OF ED is reporting . 

I request that the Consumer Financial Protection Bureau investigate this matter and take the necessary steps to rectify the inaccurate reporting of my student loans by XXXX/Dept of Ed . 

According to the law : 1. As stated by : 15 USC 1681 Congressional Findings and Statement of Purpose ( a ) ACCURACY AND FAIRNESS OF CREDIT REPORTING 2. As stated by : 15 USC 1681e ( b ) Compliance and procedures ( b ) ACCURACY OF REPORT- Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual to whom the report relates. 

How are they following reasonable procedures to assure maximum possible accuracy with this account reporting to my consumer report? 



I appreciate your prompt attention to this matter and request that you keep me informed of any progress regarding my complaint. I understand that the CFPB is committed to ensuring fair and transparent financial practices, and I am confident that you will take appropriate action to resolve this issue. 

Thank you for your assistance in resolving this matter and for your commitment to protecting consumers ' rights. 

Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with non-monetary relief