Consumer complaint received 2021-08-30
Company: Experian Information Solutions Inc.
State: GA
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: Their investigation did not fix an error on your report

Complaint:
Re : Account # XXXX XXXX  : XXXX To Whom this may concern : This letter is in reference to the account # XXXX that I purchased/financed with your company XXXX XXXX XXXX XXXX On XX/XX/XXXX at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX car dealership. My XXXX  score pulled from Experian was XXXX at the time of origination. The interest rate you extended to repay the loan was 26.44 %. In this purchase transaction, I traded in my XXXX XXXX XXXX with equity. The XXXX had XXXX miles and had a small title loan balance of {$3700.00}. I made total down payment of {$1100.00} toward this loan. I received a letter from XXXX saying that XXXX XXXX XXXX pulled my credit and did determine that I did not have the ability to repay this loan. XXXX presented the contract for 72 months. My first payment of {$590.00} came due XX/XX/XXXX. My first payment error was XX/XX/XXXX. I was charged NSF fee and never received credit to my loan balance. Ever future payment was either not applied or when it was applied did not pay principal. The loan balance remained the same for 18 months and for 10 months even while receiving payments. The loan term changed from original 72 to 77 months. 
XXXX knew or should have known that you were offering a subprime loan with simple interest and terms like this loan would likely default and cause injury to me and similar consumers with credit like me. XXXX charged a monthly fee of {$10.00} to make payments. I was charged me 28 late fees. XXXX  added 4 additional months to the back of my contract for 2 extensions that I did not even need and an additional month for a payment date change. XXXX did not advise the interest would be accruing during this extension nor did they explain the payments were still due immediately. XXXX XXXX XXXX received over 43 payments totaling $ XXXX. On XX/XX/XXXX they sold my loan and also received additional amount of $ XXXX from XXXX XXXX XXXX for my XXXX XXXX XXXX XXXX XXXX. I made additional payments toward principal in 48 months to stop them from reporting me late and to pay the loan down faster. I received a principal reduction of only {$3800.00}. 
Unfortunately, XXXX did not apply my payments in a manner that would not unnecessarily increase my payments, without clear justification and my credit reports are still suffering from this negative account. The serious delinquency is because of 10- 13 either 30 day and/or 60 day late payments you report inaccurately. XXXX, your faulty billing system has caused errors. Your company reported that you did not receive a payment XX/XX/XXXX, stated that it was NSF. XXXX XXXX verified it was paid timely. I have never received credit for the payment. XXXX did not apply my pre-payments even though there were no prepayment penalties with this loan. The principal balance {$19000.00} did not change for 18 months. I could not purchase a home because of what you report to the CRAs. The violations are 623 ( a ) ( 1 ) ( A ) of the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681-s2 ( a ) ( 1 ) ( A ) XXXX XXXX XXXX has consented to the issuance of this Consent Order by the Bureau under 1053 and 1055 of the CFPA, 12 U.S.C. 5563, 5565. 
XXXX failed to promptly update and correct information furnished to CRAs ( credit reporting agencies ) that XXXX  determined was not complete or accurate in violation of 623 ( a ) ( 2 ) of the FCRA, 15 U.S.C. 1681- s2 ( a ) ( 2 ) ; ( 3 ) SCUSA furnished information to CRAs about severely delinquent accounts and charge offs but failed to furnish Dates of First Delinquency ( DOFDs ).

In fact, I made18 payments from XX/XX/XXXX until XX/XX/XXXX, my loan balance remained unchanged. I disputed this over 8 times with Executive office managers of XXXX XXXX XXXX. I have disputed the payment history with Experian 15 times and With XXXX  and XXXX XXXX 13 times. The date of first delinquency is still incorrect. This negative history reports since XXXX and continues until XX/XX/XXXX. XXXX XXXX XXXX entered into consented order to a XXXX XXXX XXXX of XXXX to correct affected consumers credit history and to repurchase and forgive my loan. Shortly after, I disputed XX/XX/XXXX with good cause because another consented order with the CFPB XX/XX/XXXX. I am entitled to monetary relief because my rights as a consumer have been violated. XXXX was to repurchase my loan and remove damaging payment history with all credit reporting agencies. XXXX is in violation of Regulation Z. And OCGA 10-1-390.. I am still paying for this car loan and owe more than {$10000.00}. Please accept my complaint and prayer for relief so that I can restore my life by getting on track. Finally, you may review along with some of the attached documents to support the inaccurate credit reports payment history and as violations under the unfair and deceptive practices. XXXX XXXX XXXX has consented to the issuance of this Consent Order by the Bureau under 1053 and 1055 of the CFPA, 12 U.S.C. 5563, 5565.

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