Consumer complaint received 2022-02-20
Company: Experian Information Solutions Inc.
State: CA
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:
Due to the misunderstanding of their end-of-the-month date given to my Son XXXX XXXX XXXX, I am requesting a retraction from my Credit Bureau Report as a result of a delinquency notice placed on the student loan number XXXX. I am aware that corrections such as this one, can be made to the Credit Bureaus and am requesting this to be considered and executed in my case. If this is done, I will pay off this loan remaining balance In-Full.

On XX/XX/XXXX, XXXX XXXX reported to the Credit Bureaus that the above-mentioned student loan has fallen delinquent. As a result, Experian reported to me that my XXXX XXXX was dropped from XXXX points to XXXX points, a total of XXXX points due to this infraction. I was in utter shock when I was notified that this massive decline had occurred and the deduction in points in which my XXXX XXXX was impacted. I cosigned this student loan for my son, XXXX XXXX XXXX, to attend school for a higher education. 

Since the start of the COVID-19 pandemic in XX/XX/XXXX, XXXX XXXX has lost his previous job, has been out of work for going on 2 years, has been unable to find steady employment, and as a result has been unable to keep up with the loan repayments. Ive directed him on several occasions to contact XXXX XXXX XXXX XXXX regarding putting the loan into forbearance, discuss income-driven repayment plan options, and to receive counseling sessions regarding any other repayment options he may qualify for. He has spoken with XXXX XXXX XXXX Officers since the governments federal unemployment aid was terminated in XX/XX/XXXX. XXXX XXXX contacted XXXX XXXX in XXXX, XXXX, and the most recent communication being on XX/XX/XXXX. During this XXXX call he was informed to call back at the end of the month. This statement confused him as he thought he had until XX/XX/XXXX ; however, the loan was reported as being a 60-Day Delinquent and sent to my credit report on the XX/XX/XXXX. I was completely unaware of the severity level of this issue. This is a situation I must have resolved and rectified immediately. 

This pandemic has not only caused a financial strain on XXXX XXXX and his inability to make the necessary loan payments, but this resulting credit hit is also causing strain in the household and on familial relationships. I am in the process of gathering the necessary documents and financing needed to purchase a home and preparing to make a move ; this hard hit to my credit score will negatively impact me in this home-buying process and I will be unable to make this dire move. I am asking that this negative mark on my credit score to the Credit Bureaus ( XXXX ) be retracted as I am now personally going to be working with my son to ensure this delinquency is taken care of. 

I no longer want to be negatively impacted as a result. I am not excusing my sons responsibility to this loan, but instead am going to create a plan with him and XXXX XXXX XXXX XXXX to get this loan resolved. 

I've already made a payment in the amount of {$420.00} ( confirmation # XXXX ) on XX/XX/XXXX to get this account up to date. 

As you can see by the aforementioned payments, we are working towards resolving this issue promptly and will work towards repayment of the loan in FULL. Once this issue with my credit score is resolved, I will be making the arrangements with XXXX XXXX XXXX XXXX to pay this loan off in FULL, immediately! As you are aware, these have been challenging times only made more challenging by this upsetting mark on my credit report that is causing immense stress, anxiety, and sleepless nights. I am uncertain if I will be able to recover from such an impact on my credit report if it is not retracted. I am in the process of making significant life decisions in which I need my credit score ( FICO ) to reflect as it previously did before this incident. I have worked hard throughout my life in making responsible financial decisions to obtain the credit score I had and I took pride in it. This is a poor reflection on my credit report that I would like to have absolved as soon as possible. I hope you will take all of this information into serious consideration in making your determination to retract the delinquency that was reported to the Credit Bureaus which has negatively impacted my credit scores ( FICO ). 

As of today, I have gotten this loan up to date and will continue to work diligently to ensure this does not occur again by paying off the loan in full once this is resolved. Also, to reiterate I will pay off this loan remaining balance In-Full once this problem is resolved with XXXX 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