Consumer complaint received 2016-05-25
Company: EQUIFAX, INC.
State: AZ
Product: Credit reporting
Issue: Credit reporting company's investigation
Sub-issue: Problem with statement of dispute

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Az XXXX Loan # XXXX Contact Info : XXXX XXXXXXXXXXXX I am asking for XXXX to remove the credit delinquency from my credit report as well as my wife 's. 

On XXXX XXXX, 2016, I called into the XXXX XXXX Department ready and able to pay the mortgage and fully aware that I was 10 days past the XXXX XXXX grace period. The reason I called in was to speak with a specialist in regards to my options if I had any. I wanted to know if had an options in regards to the payment because this month was financially tight and we were in the process of a refinance. The XXXX customer service rep suggested the following option below. 

I was given the option to pay {$1900.00} on XXXX XXXX, 2016 and {$2900.00} for XXXX and XXXX it was a verbal agreement that started that day. I was told that I would receive paperwork in the mail but that all I needed to be aware of was making the first payment on XXXX XXXX, 2016 so that the payment plan would not default. 

My issue is that I was never informed the impact that would take place on my credit for accepting this payment plan and show up as XXXX 30 day lates. When I received a notice my credit report was altered and a 30 day late was posted to my credit monitoring I called XXXX to ask them to be removed. Simply due to the fact that had we been advised it would affect our credit that way when suggested by the rep we would have not choosen this option. The payments have been made on time for 3 years, never missing one. I was told by escalations that the agent would be reprimanded but that this was my error and not a bank error. They said it was not their responsibilty nor need to let us know it would effect our credit. I asked why the agent would be reprimanded if that is not the case but also feel it is entirely unethical to not explain in detail to a customer who is asking for all options and ready to pay the impact it may have on them. I feel this is pretty simple, I called in on XXXX XXXX ready and able to make the mortgage payment plus late fee. I was advised that I could break it up over the next few months as stated above and was never told of the negative impact that would take place on my credit score. Escalations emphatically explained that the terms were disclosed inside of the paperwork, which did not require any signature. Either this was all done inadvertently which I totally understand or a system that is inherently flawed. How is it that a professional working in the loan department can offer me a plan that makes me even further late on my payment ( XXXX XXXX ), does n't disclose the negative impact on credit score, validate it by paperwork that may or may not ever reach the person ( no signature required to prove received, or signature to acknowledge terms XXXX? I am in the middle of a re-finance and can not move forward because of this negative impact on my credit score that was never disclosed to me when I accepted what the agent advised me on XX/XX/XXXX. Can you please remove this from our credit score?

Company response to consumer: Closed with explanation