Consumer complaint received 2020-08-17
Company: TRUIST FINANCIAL CORPORATION
State: CO
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:
I have a mortgage with Suntrust/Truist. I was set up with bi-weekly payments through their website. I tried to change the bank account that my bi-weekly payments came out of, but I could not change this on their website, so I called. I was advised that I would need to cancel the bi-weekly automated payment and set it up with the new bank account as a new request. I did that, and sent a one time payment posted to my account on XX/XX/XXXX ahead of my due date for the XXXX payment. I received an email on XX/XX/XXXX that I was being charged a late fee, so I called immediately. The 2nd bi-weekly payment was on my account, but not applied to my account correctly, so it was showing that I did not make the payment. I was advised that this would be corrected and the late fee would be reversed and confirmed that my account was current. I saw the late fee was reversed on my account, so I had assumed the reporting was fixed as well. I went to make my XXXX payment on XX/XX/XXXX online and found I was no longer able to make payments online, so I called. Apparently this company if it finds you are delinquent, it won't allow you to make a payment online, so that you continue to be delinquent so that they can charge more fees. So again I called immediately. I was transferred to numerous people and no one could fix the payment application so that I could make my XXXX payment. XXXX finally called me back and resolved the issue on my account on XX/XX/XXXX so that I could make my XXXX payment. Apparently through all of this, I was reported delinquent to the credit reporting agencies. I was never called, never emailed, never notified that I was delinquent other than the email on XX/XX/XXXX, when I called immediately. I have since received a certified letter, after the inaccurate reporting was submitted, and I have received many other USPS mailed letters telling me that I am delinquent and that my home could be foreclosed on. I have done nothing wrong, yet my credit was negatively impacted. I am trying to refinance this loan and 2 others, and I have had to delay my closing because of this. I disputed the credit items through all 3 agencies, and I called Suntrust/Truist as well. XXXX at Suntrust/Truist also submitted a dispute from her end. I asked her if it was possible to get something in writing that said what happened and she said that wasn't possible. I contacted my loan broker and he said he needed a letter, so he escalated through his contact. I was able to get a case opened on XX/XX/XXXX, case XXXX. I was told that this needed to go through an internal investigation, and that would take up to 14 days. I explained that I needed the letter before today XX/XX/XXXX. I tried escalating through a VP at Suntrust, XXXX XXXX, and she was not able to get anything done either. I was scheduled to close on my refinances today XX/XX/XXXX but I had to cancel that and I have no idea what costs will be incurred, or if I will have to refinance at a higher rate because of these delays. I called Suntrust again today and spoke with XXXX. I asked to speak to her manager, she said her manager doesn't answer her calls and she is also on vacation. I asked to speak to someone else who could help me and she said that she was the only escalation point I had. I said I was going to contact an attorney and file this complaint, and I asked that she put this in my account notes. She said OK. I think this is horrible practice and seems unethical that a company can impact someone in 5 minutes or less, but takes up to 14 days to remedy the situation. All of the information is in my account and would take 5 minutes to understand the issue. XXXX was able to look at my account and immediately take action to submit the dispute as she recognized that there was an error, however to get something in writing takes someone at least 5 days and counting to get back to me. And they said they can only put something in the mail, which will take even longer to get to me.

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 non-monetary relief