Consumer complaint received 2022-07-04
Company: EQUIFAX, INC.
State: NC
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:
We had a 60 month lease with XXXX XXXX XXXX. From the beginning we had problems using XXXX online payment system. We had attached both my husband 's and my checking accounts to the online account and would use different accounts for payment depending on our budget. Most of the payments online were processed correctly but every few months XXXX would try to process the payment from the wrong account ( despite using their drop down menu to indicate the account we wanted to use ). This would result in a returned payment, and accrual of bank NSF feed and late fees from XXXX. Additionally, the online system failed to regularly send payment confirmations, payment reminders or any correspondence related to our account. 
I contacted XXXX repeatedly to let them know what was happening and asked them to change the account setting so we could get proper notification and asked them to waive the late charges for the payments they improperly processed through the wrong account. They did nothing to update the account and did not waive any charges. After months of struggling with them, I filed a complaint the CFPB ; and I filed another months later when XXXX continued doing the same. 

After several months of correctly processed payments, we ran into another problem this year. Payments made online through XXXX were processed correctly, but for some reason payments made XXXX and XXXX were never debited from my checking account. I had no idea the payments weren't posting because we have never received any payment confirmations or notices from XXXX. XXXX never sent an email or a letter indicating the account was delinquent. I did not become aware of the delinquency until XX/XX/XXXX, after XXXX filed a 60 day delinquency notice with the credit bureaus after not receiving the XX/XX/XXXX payment I made through the online system. 

I immediately contacted XXXX to ask what was going on. I explained that I had made my payments online as normal and I asked why they didn't try calling and leaving a message if the payments were not being credited to the account. XXXX said they called ; however the phone number used does not belong to my husband or me. ( I have contacted XXXX numerous times in the last 3 years because of the payment system and they have all of my current contact information. ) I asked for help correcting the erroneous reporting to the credit bureau since their online payment system and bill paying system do not work properly. I agreed to pay the entire balance off straightaway ( this was never a question of not having adequate funds ) if they would correct their reporting due to their payment system failed and lack of proper notice with regard to a delinquent account. 

On XX/XX/22 after a frustrating conversation with their unhelpful customer service, I asked them to take the payment for the remainder of the loan ( {$4900.00} ) over the phone to avoid getting hit with any more lates due to their faulty payment system. However, despite my swift action to rectify the situation, XXXX did not remove the late reporting from my account. As a result, my credit score dropped over XXXX pts. This is devastating, since I have not had a late payment on any account for years. I own a business, I spend over $ XXXX a year on my XXXX XXXX card which has net XXXX terms. Does it seem likely that I would choose not to pay XXXX while every other creditor is paid in advance? Does it make sense that I would risk my credit profile for a {$500.00} payment when we have $ XXXX in our savings account? If I didn't have the money for a {$500.00} payment on XX/XX/XXXX, does it make sense that I had adequate funds to pay off the entire loan balance a week later? 

XXXX has a faulty online payment system. XXXX did not update its records with our current contact information, despite being called at least 5 times in the last 3 years. XXXX failed to notify us by phone, email or by mail of our deliquency on the account in order to give us an opportunity to rectify before it became a credit issue.

Company response to consumer: Closed with explanation