Consumer complaint received 2021-06-29
Company: NAVY FEDERAL CREDIT UNION
State: PA
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:
At the end of XXXX this writer suffered XXXX XXXX XXXX. During this period due to my inability to sustain employment I was unable to keep up with my credit card payments with Navy Federal Credit Union. Therefore, my payment fell behind to the point where Navy Federal decided to close my account. 
In XXXX after a full recovery and back to work full time, I contacted Navy Federal and inquired about the past due debt that I owed them. They informed me of the full amount ( {$450.00} ) and after minimal negotiation, I was informed that the only way I could settle this debt to the satisfaction of both myself and Navy Federal was to pay off the entire amount in cash at the local branch. The agreement was that I would pay the full amount, and the bank { Navy Federal ) would fully recover their loss. And for doing so I would have this derogatory removed from my credit profile with the Credit Reporting Agencies. 
On XX/XX/XXXX, I paid off this overdue debt to Navy Federal. ( See Attached ). 
about 30 days later I contacted Navy Federal and informed them that the negative information was still reporting on my credit reports. I was told at this time that it usually takes 4 to6 weeks for the corrections to take place. 
I waited another 30 days and again checked my reports. This time I noticed that it stated that this account was a Charge Off, But it was paid. I again contacted Navy Federal. This time I was told that They were NOT GOING TO REMOVE the derogatory info, but it would state that the debt was paid. I informed the person I was speaking to that this was contrary to the deal I was made prior to my full repayment of this account. I was told that no matter what agreement I had previously reached with them, this was their position now. 
I am under this impression that Navy Federal practices allow for their agents and customer service reps to tell their customers whatever the customer wants to hear in order to assure that customer pays them their money. Then after getting their past due balance they ( Navy Federal ) renege on their promises and feign memory of ever making this deal in the beginning. These practices are expected more from a collection agency. than that of a reputable bank like Navy federal. They should be made to keep their word,, not only in this case but all cases where they make promises to customers in order to receive payoffs ... ... 
Also note, I disputed this account with XXXX. The results are dated XX/XX/XXXX, which state clearly " {$45000.00} WRITTEN OFF '' Now my question would be why would Navy Federal state that this amount was written off in XXXX of XXXX when in actuality this account was paid if full in XX/XX/XXXX. It is as if they are going to great lengths to disparage this customer. See attached ...

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation