Consumer complaint received 2015-04-01
Company: EQUIFAX, INC.
State: FL
Product: Credit reporting
Issue: Incorrect information on credit report
Sub-issue: Account terms

Complaint:
In 2013 my students loans went into a repayment status, with an initial payment date of XXXX/XXXX/2013. I did not receive my repayment terms as they were sent to a temporary address and I was in the process of moving. I contacted the lender ( XXXX XXXX XXXX ) on XXXX/XXXX/2013 via their messaging system, as suggested in their emails, to inquire about placing my loans into a deferment status ( derogatory reporting had not begun ). The response from the lender was to complete an eligibility quiz on their website, and submit produced form, to which I obliged. In XXXX I retrieved the response, and submitted the form produced after completing the lenders eligibility quiz to the loan deferment department as directed, and assumed my loans were placed in deferment as indicated on the website. 
Two months later I noticed derogatory marks on my credit report and contacted the lender, at which time, due to their mistake, they agreed to backdate my forbearance and " remove all delinquencies '' from my account. 
The lender has since refused to pass the updated account information along to the credit reporting agencies. I have disputed the delinquencies with the lender, credit reporting agencies, and the ombudsman on several occasions, however, the lender is refusing to update the account information stating because it was accurate " at one time '', they do not have to remove the derogatory remarks from my account. In addition XXXX stated they were following Dept. of Education guidelines by keeping inaccurate information on my credit report. I have since confirmed with Dept of Education representatives, this is untrue. 
The lender 's failure to report complete and accurate account information is a violation of the FCRA section 623 ( a ). Furthermore on XXXX, I was advised the lender would not report any of my payments while the loan was in deferment status, and advised I put my loans into a repayment status if I wanted my payments to be reported, this is also a violation of the FCRA. 
At the advice of the lender I removed the loans from deferment, and they have since started reporting payments. 
I have since learned that not reporting payments to an account is a violation of the FCRA and requested to have my loans account changes removed. My loans have been placed back into a deferment status, however, they have not reversed any of the compounded interest. 
I filed a compliant with the Ombudsman and was advised on XXXX by representative XXXX XXXX that student loan lenders are required to follow the same regulations as other lenders and directed my to the Title 34, however, no where in the Title 34 does it state that it negates other Federal Regulations, in fact there are several references to compliance with FCRA, therefore the lender is not above government guidelines and must report the retroactive deferment status, and removed delinquencies. 
The attached documentation shows my accounts were in a General Forbearance starting XXXX/XXXX/13, meaning no payments due from that date forward. However they are reporting my as delinquent in XXXX, XXXX, and XXXX 2013. Their failure to update the credit reporting agencies with the retroactive deferment date and updated payment statuses is a violation of FCRA 623 ( a ). Please investigate and request removal

Company response to consumer: Closed with explanation