Consumer complaint received 2022-11-22
Company: EQUIFAX, INC.
State: TX
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
First call to Equifax was on XX/XX/XXXX. I spoke with XXXX from the XXXX. XXXX on informed me that Foreclosure stays on your credit file for 10 years. This information is incorrect. XXXX has already deleted the XXXX XXXX XXXX from my credit report. XXXX shows that it will be removed XX/XX/XXXX. Why is equifax stating otherwise. 

According to Equifax 's website How long does a foreclosure stay on your credit reports? 
Foreclosures can stay on your credit reports for up to seven years. XXXX states In fact, a foreclosure must be removed seven years after the date of the first late payment that led to its default. In credit reporting terms, this is called the date of first delinquency, or DoFD. A foreclosure that's accurately reported will be removed from your credit reports no later than seven years from its DoFD. This deletion process will kick in automatically at the credit bureaus and do not require a XXXX XXXX XXXXXXXX Yes. 

XXXX XXXX XXXXXXXX So I can get you to the right agent. May I know the reason you were calling for? I recognise that you were looking to speak with an agent to help me get you to the right agent. Can I know the reason you were calling for? 
nder. 

Under U.S.C code 1681 it clearly indicates Running of reporting period ( 1 ) In general The 7-year period referred to in paragraphs ( 4 ) and ( 6 ) of subsection ( a ) shall begin, with respect to any delinquent account that is placed for collection ( internally or by referral to a third party, whichever is earlier ), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action. 

XX/XX/XXXX I spoke with Equifax again at XXXX. 

XXXX XXXX XXXX Equifax XXXX Thank you for calling my name. What? Can I help you today? 

XXXX : Yes. I need to check something on my account. 

Equifax : Okay, so let me pull up your credit file first. Okay? So that they can verify that information. Alright. Uh. well I understand. If you answer those, did you receive any code or a link on your phone number? The phone number. How about the code XXXX passcode? Did you receive that? 

XXXX : XXXX. 

Equifax : You entered that in our phones? You said, man? Yep. Yeah, that's why our system already identify you as well. So you stand the line. I'm I'm pulling up your file first. Okay. So that they can check, uh, that information that you need to know about your. Hold on. Um, hello, ma'am. 

XXXX : Yes. 

EQUIFAX : Yeah. Hi. I'm sorry about that. Long Wait. But anyway, ma'am, Um, yeah. Since our system already, uh, identify you as the owner of the file, I was able to pull out right now. Well, to make sure that the you are the rightful owner, may I have your full name, ma'am? Okay. Middle name, his money, them for money. Great. That's correct. Okay, So I was I was able to pull up your credit file. And since our system already identify you as the owner of this great file, uh, I can provide any information that you need to know about your credit report. So what is your XXXX XXXX XXXX Okay, hold on. That's the collection account. 
XXXX : No, it's not. It's a mortage. 

Equifax : Let me check that on your on your mortgage account. Okay. Standard lines Still loading system. Mm. Um, hello, XXXX XXXX. Uh huh. Yeah. Hi. Hi. I'm sorry, but anyway, I was able to pull up your file. Your me, uh, on your specifically on that mortgage. And, uh, you mentioned it was, uh, uh, uh, XXXX XXXX XXXX, right. 

XXXX : It's not a recovery. It's called XXXX XXXX XXXX. Or it could be listed as XXXX XXXX XXXX. 

Equifax : Oh, yeah. Yeah. The like services. Yeah. Uh, how much is the balance of this account? It's already paid, and it's XXXX balance. Right. And when did you close this account? 
XXXX : It was paid in XXXX. I need to know when it's gon na drop off on my credit. profile. 
Equifax : Okay. Yeah. Uh, well, uh, the status is paid as agreed, uh, with a balance XXXX. And it was closed in XXXX. So, uh, normally, uh, you know, uh, account. Uh, if those accounts were reported on your it will remain for 10 years, depending on of that account. 

XXXX : That's incorrect. That's incorrect. It only is seven. Thank you. XXXX already dropped it off of my credit report, and XXXX XXXX will next month. So when is it gon na drop off on on? 

Equifax : Okay, so I'm looking at that member history. Okay, So, uh, the last time or the last history was XX/XX/XXXX. 

XXXX : I know that. Can you just answer my question, please? When is it going to drop off? It's supposed to drop off seven years after the first payment was missed. 

Equifax : There's no this payment. Uh, in fact, this is a great meaning. This is and a good credit standing account. 

XXXX : I I'm gon na I'm going to ask again. When is it going to drop off? The other two credit bureaus have already dropped off the account. 

Equifax : Yes. For your fax, it will drop off on XX/XX/XXXX. 

XXXX : No, that's That's incorrect. It's supposed to drop off in XX/XX/XXXX. That is according that is according to. that's according to 15 us. U. S. Code 16 81 seat. So why are you something differently? 

Equifax : Because It's generated, ma'am. And we are now. 

XXXX : Do you know the the Federal Law? 

Equifax : Yes, XXXX : So why are you Why are you giving me wrong information? It's not 10 years. It is seven years from the date that is the first payment is missed. If the other two credit bureaus have already dropped it, why is it why is it still you're telling me that it's gon na stay on there for longer. 

Equifax : You don't need to elaborate that. So you already on stuff? 

XXXX : I already know. You're giving me wrong information. 

Equifax : Yeah. Kindly consult that credit report from and provide. Kindly consult another, uh, financial consultant so that you can check that information. 

This matter needs to fixed and the agents need to be instructed with proper information. I tried calling the corporate office in XXXX and your switch board just sends me back to the call centers in the XXXX.

Company response to consumer: Closed with explanation