Consumer complaint received 2022-07-20
Company: KEYCORP
State: PA
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: Difficulty submitting a dispute or getting information about a dispute over the phone

Complaint:
I am currently in the process of trying to purchase a home. The home I am currently renting is being sold. I am under contract, but there is an error on my credit report from Key Bank that is making me ineligible for financing. I have been diligently contacting Key Bank since XX/XX/XXXX to clarify this error. They seem unable to come to a conclusion based on their own records. Please see below for a timeline : 1. Account charged off by Key Bank in XXXX of XXXX. 
2. Evidence of mortgage satisfaction provided shows XXXX released by Key Bank in XXXX of XXXX. ( Provided to XXXX from Key Bank ) 3. XXXX XXXX XXXX ( The collection company hired by Key Bank XXXX provides a payoff/balance letter to XXXX XXXX XXXX on XX/XX/XXXX, showing a balance of {$5500.00}. This payoff was provided because XXXX sold the property to XXXX XXXX XXXX for what was still owed on the charge off. ) 4. XXXX XXXX Settlement occurs on the sale of the property located at XXXX XXXX XXXX XXXX, XXXX XXXX, PA XXXX. HUD sheet shows disbursement to XXXX XXXX XXXX in the amount of {$5500.00}. Which is the balance Key Bank reported to XXXX as being charged off. 
5. XXXX credit report shows that Creditor Settled For Less Than Amount Due. THIS IS INACCURATE BASED ON THE INFORMATION KEY BANK PROVIDED TO XXXX XXXX XXXX, and is currently keeping XXXX from obtaining a mortgage. 

Again, I have been in contact with various departments within Key Bank almost daily since XX/XX/XXXX. Many of those times, my loan officer is with me to help me understand the convoluted answers they have been giving me... which are not answers at all. 

1. They initially stated that they couldn't prove the collection company had send them the funds to payoff the account, and that is why they reported to the credit bureau that they settled for less. 
2. They now tell me that they sent me a check in XXXX of XXXX for {$3300.00} and change, which was cashed. I do not have any record of receiving said check. In addition, why would they send me a check for {$3300.00} if the had " settled for less than what was owed ''? 
XXXX. Instead of fixing their error, so that I can complete the purchase of a home, they now say this needs to go to their fraud department. This further extends my inability to provide a home for myself. 

I need help. They don't seem to care or want to solve the problem. I don't understand how they do not have a complete record of events within their own organization. Each time I talk to someone, they tell me they need another 48 hours ... that they are waiting to hear back from " this '' department or " that '' department. I am OUT OF TIME! And over a month should be long enough for a financial institution to follow their own paper trail. 

Employees of Key Bank that I have been in contact with : XXXX XXXX XXXX Senior XXXXXXXX XXXX XXXX XXXX  Team XXXX XXXX XXXX XXXX XXXX XXXX OH XXXX Office : XXXX XXXX XXXX XXXX No last name given or email communication. Only over the phone. ) XXXX XXXX XXXXXXXX XXXX XXXX XXXX My case number is : XXXX My contact phone number is : XXXX

Company response to consumer: Closed with explanation