Consumer complaint received 2020-03-08
Company: Experian Information Solutions Inc.
State: CO
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: Investigation took more than 30 days

Complaint:
We moved in XXXX from XXXX  to XXXX  & changed address, changed phone numbers and changed bank accounts. I had a payment set to go through but since the address changed it did not go through. I didnt recieve any information that my account past due or that the payment did not go through from my old bank. There are multiple things that are incorrect from XXXX  XXXX XXXX XXXX XXXX. 1 is I make one payment but when they reported a late it shows up for 5 accounts. This is predatory practice. Another is that student loans stay on reportd FOREVER which should be a crime. I've had perfect history for the past 8+ years with them and then this incident which was accidental trashes my credit. It brought my score from a XXXX to a XXXX and I pay my Bill 's on time and plan on buying another home in the near future. Another things they dont XXXX report 30 day late which if that would have occurred maybe I would have seen the error earlier. They do that on purpose because I'd they can CHOOSE to not report 30 day lates than they can assist in getting this removed. This is unfair practices that takes advantage of consumers and is predatory. I feel sorry for the college students today getting out attempting to pay these loans because I'm a XXXX XXXX and this company has never worked with me during transitions. XXXX XXXX student loans however has been awesome at working with you during transitions of home or jobs. This company needs to get its stuff together and is the perfect representation why this country needs student loan reform. If your going to bankrupt our nation you should at least work with the people that are paying your loans back. I've already paid back way more than I borrowed as well. 

The fact is that I am playing by the rules that the company itself has created. You as a company choose to only report anything 60 days past due. Therefore my account is not constantly delayed but just around the rules that you play by. The fact is I have paid far beyond the amounts I have borrowed and still have a bit to go. The fact is I have friends who have started companies and failed that went through bankruptcy who's credit score was impacted less than my credit score for failing on one payment over the past 10 XXXX  years. The fact is you are charging roughly a 25 % interest charge per payment charge and absolutely XXXX  the youth and my generation. Yes it's a 5-7 % interest payment but compounded daily like a home. You buy a car for {$25000.00} and pay {$5000.00} in interest. When you borrow {$25000.00} in student loans you pay {$30000.00} of interest. Big business in American is XXXX  this generation and going to bankrupt our society. I simply say you are XXXX with one person who has paid more than their fair share of what they borrowed and then you penalize them for moving. May I ask what your company account performance is? 10, 20, 30, 40 % delinquency rate? I'm genuinely curious because over the past 10 years I have been REPORTED twice on my 5 student loan accounts with you. When in fact it should be ONE ACCOUNT. How many times do I file a payment each month? Once ... Then why the XXXX do you have it split to 5 accounts. If its 5 accounts I should have to make 5 payments. This is predatory practices. Your entire business model is predatory practices taking adantage of the youth of American and our country. YOU WILL BE the people who bankrupt our country. It was the housing market in 2007 and it will be the PRIVATE student loan companies today to blame. My subsidized student loan company XXXX XXXX has been fantastic to deal with. They are flexible to work with and you know what I've had zero issues with them! So why does the CFPB put me right back in contact with YOU, BIG CORPORATE? I have no idea. You are the ones who are praying on consumers and will continue to do so. I will take this back to CFPB and the supreme court if I have to because frankly SOMEONE HAS TO! When will this stop. How much did I borrow on each loan? How much have I paid back on each loan? And to be frank I am a very successful business person so I can not imagine the stress, anxiety and absolute Bullying you enact on others. I also will make a solemn oath that the final {$10000.00} of my loan will be repaid in pennies delivered personally by myself to you in XXXX, Alaska if in fact your business is there in Alaska like you advertise and not overseas. And again this comes from an individual who has been paying his loan since 6 months when I got out of college and thought holy hit how am I going to do this ... Its time for a change, and I am ready to take on this challenge. Educational reform is on the horizon and the educational financial crisis is at the epicenter of this country 's greatest threat. I've got money and a passion to positively impact our country for the better.

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