Consumer complaint received 2022-08-17
Company: Experian Information Solutions Inc.
State: OK
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Information belongs to someone else

Complaint:
Received email from Experian this morning XX/XX/22, advising of score drop of XXXX points. 
Logged into Experian account. Discovered Experian was either incorrectly reporting two accounts that did not belong to me, or were obtained by identity theft. I immediately filed dispute. Within about 3 hours Experian deleted the incorrect reporting, however as was subsequently explained by a representative of FICO, that likely only started the process, as Experian will be contacting the creditors stated in the Experian report to obtain their input on the matter. If the creditors ( XXXX XXXX and XXXX XXXX ) do not respond within the time required by law, then the case will be closed and the removal of the incorrect reporting to my credit file will be come permanent -- but that won't be the end of the story either. Within about an hour after receiving an email from Experian advising the dispute has been handled, I receive another email from Experian advising my score has dropped ANOTHER XXXX POINTS! I called Experian. Their position was that they did not issue FICO scores but directed me to either call FICO or an credit counselor! Beyond that there was nothing they could/ would do to help me. So let me get this right... They create the problem through incorrect reporting, but leave me ( the consumer ) holding the bag for the long-term consequences of lowered credit score claiming they don't issue FICO scores. No, granted they do not, however, if they were the purveyors of bad data sent into FICO, they certainly need to required FICO to treat the entire reporting as of it never happened, and add those XXXX lost points back into my FICO score. 

So, I have for decades maintained a PERFECT credit score. My current file is the same. No public records. No inquiries. No nothing. The amount of my available credit has not declined XXXX cent. NOTHING on my side changed. All bills paid in full on or ahead of due date, every month, month after month, year after year. All taxes filed and paid. Everything one is supposed to do to be a responsible citizen. Yet, due to Experian bad reporting to FICO, my score as of now is XXXX points lower than it was last night, yet I DID NOTHING TO CAUSE THE DECLINE! N.O.T.H.I.N.G!!! 

I called FICO. XXXX. They were equally useless and unwilling to do anything because they can only formulate a score based on what the bureaus report to them. So in other words, Experian ( and/or other bureaus ) make a reporting mistake, send it off to FICO, FICO dings the consumer FICO score points, but neither Experian or other bureaus likely, nor FICO are willing to take responsibility for cleaning up the mess NOT CREATED BY THE CONSUMER! End result : Experian makes the error, does not take responsibility, and sticks me with a XXXX point credit hit. 

Here is the disgusting part : ALL OF THIS STRESS is over XXXX  micro accounts that somehow became associated with my credit file : XXXX with a current balance of {$100.00}, and the other with a current balance of {$140.00}. THAT'S IT. And these are XXXX accounts that I never had, know nothing about, did not request them, and am ready, willing and able to sign a statement to that effect under penalty of perjury. The creditors also know any prior payments on these accounts did not come from me or any financial institution account associated with me. So who did they come from? THAT is the source of any fraud that may be involved, versus an just an error in reporting these accounts as being mine. 

I asked Experian how this was possible because for years now, I have had a credit freeze on my account to prevent identity theft. Their answer? They didn't have one. I asked if a credit freeze does not in fact stop identity theft, then what is the point in having one? Answer? None, except to state that it was probably just a reporting error by Experian. 

This is the most disgusting, disgraceful, absurd abuse I have ever suffered at the hands of any third-party " service '' agency. I had a minor issue decades ago that was eventually corrected, and my credit score was reinstated within 30 days. The fact that now, Experian apparently won't do anything to help me, the consumer, their customer, is beyond comprehension. 

The horrific part is that according to FICO, there is a possibility that after all this settles, my FICO score may not be reinstated where it was before this incorrect reporting, and that it might take me years to get my score back up to where it was! So all my perfect payment history, paying all debt to zero, living a completely honorable creditworthy life now becomes potentially subject to a protracted punishment due to incorrect reporting by Experian. In what universe is that even remotely fair, let alone reflected in public policy and consumer protection laws? 

This abuse continues to prove one basic fact : the whole credit reporting system is a disgrace and must be overhauled from the ground up. The whole system, if conducted by another business, would be likely deemed a racket. How can a perfect credit person like me, who pays all my bills on time or ahead of time and in full every month, for the past I can't remember how many decades, have ZERO debt, owe no one a cent, don't even have a parking ticket, how is it that the system permits me to be the fall guy for Experian 's errors and suffer a XXXX point FICO credit reporting hit? 

I demand an answer and my prior FICO score FULLY REINSTATED by adding back the XXXX points lost due to this admitted error by Experian!

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 non-monetary relief