Consumer complaint received 2022-04-12
Company: EQUIFAX, INC.
State: MO
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
This is not a new complaint. You sent an email saying log in to send feedback, and when we logged in, it sent us here, so this is our " feedback. '' For the record, we are not satisfied with the responses of XXXX XXXX Equifax. XXXX XXXX, the third party involved, did reach out to offer another card ( which we are not interested in, at the rates we are now eligible for ), and we have no further problem with them.

What was done to us was explained in detail previously, but the summary is : Our credit scores were approx. XXXX and XXXX the XXXX of XXXX. The end of XXXX, they were approx. XXXX and XXXX, where they remain today. As a result, we are paying a much higher interest rate than any we've ever paid before -- when we can even get approved for credit. 

We received no real explanation as to how/why both credit scores went down so drastically in about three weeks. We spent the past 10-12 years building credit following a bankruptcy, without one late payment. We have rec 'd many good credit offers at excellent rates because of the hard work we put in, but that's over now.

Both our scores were on the line between " great and excellent. '' They are now " fair. '' We did not do anything in XXXX of XXXX  to make them drop like that. There is no real explanation ; the reporting agencies just answered with things like " credit ratings fluctuate. '' That is no explanation for the unbelievable drops of 70- 80 points in less than a month.

We do not know everything that was wrong on the reports ; we did note that one thing was " earliest credit too recent '' which was ridiculous -- - our " earliest credit '' after the bankruptcy was 10-12 years ago, and it had not been listed the month before. That alone wouldn't drop our scores so drastically, but we can't afford forensic accountants or attorneys to see what else was suddenly " discovered '' in XXXX to destroy our credit like that. 

All we know is, it will take years to build our credit back to where it was the first of this year. The whole thing is unbelievably unjust -- we have owned three houses with never a late payment, had the usual credit cards with never a late payment, were able to consolidate, pay off, and close accts because we were offered low interest rates on consolidation loans.. People with our credit history should be XXXX or so -- - which we were the first of XXXX -- and were not, as the month drew to a close. 

There is no rational explanation and it appears there is no way to fix it now. You were our last hope. If we were wealthy, we would have attorneys and forensic accountants taking care of it. We do not, so we will be hit with high interest rates for the next several years while we build our credit back up.

We do not deserve this. Nobody deserves this.There are no words to describe the anger and frustration we feel.

Maybe we can get a journalist interested.It 's a real human interest story when a couple wakes up and finds their credit destroyed overnight. If your agency has the power to do anything else, let us know. Thank you.

Company response to consumer: Closed with explanation