Consumer complaint received 2023-01-18
Company: Experian Information Solutions Inc.
State: IL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
Dear Consumer Financial Protection Bureau, I am writing to file a complaint against XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX for collecting and reporting a debt that was charged off as an asset for the creditor. This act violates several federal laws and regulations, including the Fair Credit Reporting Act ( FCRA ) 15 U.S.C. 1681s-2 ( a ) ( 4 ) and 15 U.S.C. 1681s-2 ( a ) ( 1 ), the Consumer Financial Protection Act ( CFPA ) 12 U.S.C. 5531, the Truth in Lending Act ( TILA ) 15 U.S.C. 1632 ( a ) and 15 U.S.C. 1639 ( a ), and the Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) under the Dodd-Frank Wall Street Reform and Consumer Protection Act 12 U.S.C. 5531. 

The issue at hand concerns a debt that was bought from the original creditor, XXXX XXXX XXXX XXXX , that was charged off. XXXX XXXX XXXXXXXX has reported the debt as fully paid simultaneously with the original creditor, despite the fact that it was legally considered an asset for the creditor with the charge off. This act violates the FCRA 15 U.S.C. 1681s-2 ( a ) ( 4 ), which prohibits the reporting of debt as fully paid when it has been charged off.

This act also violates the FCRA 15 U.S.C. 1681s-2 ( a ) ( 1 ), which prohibits the reporting of a debt that is not legally enforceable against the consumer, intentionally hurting my credit score with prejudice and without a legal contract with me from the inception of the debt with the original creditor XXXX XXXX XXXX XXXX XXXX XXXX XXXX 

Additionally, XXXX XXXX XXXX and the original creditor have violated the Consumer Financial Protection Act ( CFPA ) by collecting and reporting a debt that was charged off as an asset for the creditor. Specifically, this act violates the CFPA 's provisions on consumer protection, in particular, 12 U.S.C. 5531, which prohibits any act or practice that is unfair, deceptive, or abusive to consumers. 

Furthermore, XXXX XXXX XXXX and the original creditor have violated the Truth in Lending Act ( TILA ) by not providing accurate and complete information about the debt and the terms of repayment. Specifically, they have violated TILA 15 U.S.C. 1632 ( a ) by not providing accurate and complete information about the nature and terms of the debt, and TILA 15 U.S.C. 1639 ( a ) by not providing accurate and complete information about the terms of repayment. 

Additionally, XXXX XXXX XXXX and the original creditor have violated the Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) under the Dodd-Frank Wall Street Reform and Consumer Protection Act by collecting and reporting a debt that was charged off as an asset for the creditor. This act violates UDAAP 's provisions on consumer protection, specifically 12 U.S.C. 5531, which prohibits any act or practice that is unfair, deceptive, or abusive to consumers. 

I respectfully request the consumer financial protection bureau to investigate these violations, hold XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX accountable , and request them to submit a removal of this illegal and collection abuse from my credit report. I also request that these two companies ask the reporting agencies to send me a corrected copy of my credit report upon deletion. 

Thank you for your time and attention in this matter. 

Sincerely, XXXX XXXX

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