Consumer complaint received 2022-07-20
Company: EQUIFAX, INC.
State: IL
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:
I have a private student loan with XXXX XXXX, who took over XXXX XXXX XXXX. For years, XXXX XXXX ( which is no longer in service ) is still being reported as an open, delinquent account on my Equifax Credit Report, however the company went out of business in XXXX of 2018. I have contacted Equifax to have the XXXX XXXX XXXX account deleted from my credit file, but they have yet to remove XXXX XXXX XXXX from my account. It currently showing that I owe two private student loan accounts with the same company when I only owe one student loan. I have even pulled up the company information from XXXX XXXX XXXX via the XXXX XXXX XXXX, and the company is listed as NO LONGER IN BUISNESS. I have even contacted the company phone number ( XXXX ), but the phone number is no longer in service. 

I recently filed a previous Consumer Financial Protection Bureau complaint regarding this matter, and this was EQUIFAXs Response : Thank you for submitting your complaint through the CFPB Complaint Portal. In your complaint, you indicated that there were inaccurate items reporting on your credit file. Equifax has completed its investigation, including contacting the furnisher of the information, where applicable. A summary of the results are listed below : Trade : XXXX XXXX XXXX  EQUIFAX VERIFIED THAT THIS ITEM BELONGS TO YOU. ADDITIONAL INFORMATION HAS BEEN PROVIDED FROM THE ORIGINAL SOURCE REGARDING THIS ITEM. THE FOLLOWING FIELDS HAVE BEEN MODIFIED : STATUS, BALANCE, PAST DUE, DATE OF LAST PAYMENT, ADDITIONAL INFORMATION, ACCOUNT HISTORY We hope this resolves your concerns and, if applicable, a copy of the dispute results has been mailed to you. 

XXXX. ) First, the balance on XXXX XXXX services should be XXXX, as the account was transferred to XXXX XXXX which is a different company. The balance was transferred to a different company, because on XX/XX/2018 in the XXXX XXXX Court in XXXX XXXX XXXX County of XXXX, XXXX was declared Insolvent due to non-payment of taxes and debts. So, if they transferred all their debts to different loan service companies, why am I still owing a balance with a closed company greater than XXXX dollars? 

2. ) Secondly, by Equifax modifying the status, balance, past due, date of last statement, additional information, and account history to reflect that my balance is current, this implies that I am making 2 loan payment to two different companies on the same loan, which is false. By showing that I still owe a balance to XXXX XXXX XXXX, this increases my debt ratio and lowers my credit score. 

XXXX. ) Equifax, in its response, stated that XXXX XXXX XXXX Verified that the item belongs to me. How were you able to verify such information when the company is closed? If Equifax was able to verify this debt as belonging to me, why havent they provided me with contact information from a representative from XXXX XXXX XXXX? Additionally, where is the paperwork sent from XXXX XXXX XXXX to Equifax showing that this account is Verified?

Company response to consumer: Closed with explanation