Consumer complaint received 2020-07-01
Company: Island Finance Puerto Rico
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I submit my claim to XXXX  about a predatory lender reporting an account as charge off and incorrect 28 late payments. XXXX  have ignored all the evidence i had submitted in 3 different occasions. 

Below a recap of the claim. 

I am writing to inform you about an error I noticed on my XXXX  credit report ( account number # XXXX ). 
This item ISLAND FINANCE LLC # XXXX identified as an Unpaid Balance/Charge off is type is inaccurate. This account was paid accordingly to the terms of the loan. 
On XX/XX/XXXX as I tried to make my regular monthly payment, I was advice to my surprise and knowledge that the account that was from Island Finance LLC # XXXX was charge off as bad debt on XX/XX/XXXX of XXXX by Island Finance LLC. This account was transferred from XXXX XXXX XXXX to Island Finance LLC and all payments were made by XXXX XXXX XXXX ' payment platform until XX/XX/XXXX as instructed by Island Finance LLC ( Attached emails with payment confirmations ). 
When I called on XXXX, XXXX to make my monthly payment to XXXX that was provided to me when the account was transferred to Island Finance LLC that is not the same from Island Finance LLC, for payments, I am told that the account was sold to another company and that I should call the company # ( XXXX ). When I contacted XXXX XXXX XXXXXXXX XXXX on XX/XX/XXXX they claimed none of my information was on their system and I had to wait for Island Finance LLC to transfer the file. For around three weeks I called Island Finance LLC multiple times ( Mr. XXXX ) attended me most of the time ) to pay and the other company named XXXX XXXX XXXX XXXX and no one could take my payment because at Island Finance LLC the account was already closed and in the new company they had no record of my account, I request several times to talk with management and they reject my petition and never answered or called me back as requested on several occasions. 
On XX/XX/XXXX the file finally arrived at XXXX XXXX XXXX and I was forced to submit the full payment in the amount of {$770.00} ( attached bank statement and letter evidence ). Finally, on XX/XX/XXXX I get a letter ( dated XX/XX/XXXX, a month later after they claimed to transfer the account to the new lender ) stating that the account was acquired by another company named XXXX   XXXX XXXX XXXX. The letter in itself contains several errors. The first is that it indicates that " Transactions reflected after the date of loss : NA/NA '' ( attachment letter to record ). None of the payments made and debited from my checking account and with email confirmations apparently were applied. The remaining balance of payment of {$770.00} " at the time of loss '' is correct but reflecting the account as a charge off is incorrect and inaccurate. 
This account had a monthly payment of {$180.00} when it belonged to XXXX XXXX XXXX, at the time of the account transferred to Island Finance LLC I still made the same payment, but, around XX/XX/XXXX, payments were adjusted by Island Finance LLC to {$69.00}. ( Attached credit report where it reflects the new payment ). This without any notice from Island Finance LLC to me. I then started paying that new amount and some months even higher amounts to speed up the payment of the remaining balance. I respectfully request XXXX  for a thorough investigation of the account and that the following be provided expeditiously by Island Finance LLC : Detailed account analysis with statements and payments applied. 
Recording of the calls when I summitted my payments. 
Apply all payments to the account made thru XXXX finance platform. 
Correct XXXX XXXX credit report and report the account paid off and " good standing, without " write off '' or lost as recently reported. 
As a financial institution Island Finance LLC is legally mandated to follow local and federal laws ( FCRA ) to correctly report on all credit agencies. In addition, they are required to follow the OCIF regulations for lending institutions and the Fair Debt Collection Practices Act. 
I am requesting that the item be removed and corrected as paid and the account be reported as satisfactory. 
Enclosed are copies of all my payments records, email to the Director of Risk ( XXXX XXXX, dated XX/XX/XXXX ) of Island Finance LLC submitting my claim to them, letters of paid off thru their unlawful debt collector ( XXXX XXXX XXXX XXXX XXXX XXXX ), bank statements reflecting all my payments that match the payment receipts and letter from Island Finance incorrectly charging off the account supporting my position. Please reinvestigate this matter and delete the charge off and correct the status of the account to paid as agree and satisfactory as soon as possible.

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