Consumer complaint received 2017-08-15
Company: SELECT PORTFOLIO SERVICING, 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: Problem with personal statement of dispute

Complaint:
My Request : I have twice this year submitted disputes on two, 30-day late marks on my personal credit bureau reports with XXXX, XXXX, and XXXX. In both cases, the items were not removed, even though prior conversations with the lender stated that these items would be removed, or not even reported in the first place due to special circumstances. In my most recent dispute I even went so far as to write a letter outlining why these items were not valid and reminding the lender that they had agreed to remove these marks from my credit bureau. I have not received feedback from the lender and the disputes filed did not provide any understandable feedback. I am asking the CFPB to raise this issue with the lender and credit bureaus to help relieve my otherwise clean credit report of these two, undeserved marks on the basis of special circumstances even though these should be considered simply on the basis of a 12 year old mortgage with no other payment issues. Background on this relationship : I have held this account with Select Portfolio Servicing since XX/XX/XXXX.  My brother and I bought a home together seeking to fix up an old, dilapidated house to live in while we started our careers. Two years later we found, much to our dismay that the loan we thought was a 5 year ARM set to prime was a 2 year arm set to 5 % over LIBOR. It 's bad enough being lied to, but the market had just crashed and we could not even approach refinancing or modifying our note without going into default on our obligation. So even though our rates were as high as 8 %, when other people were paying 3 %, we made our payments on time, even though it did nothing but leave us starving some months. I suppose this makes us a minority in that we honored our obligations when these seemed to be a subsidy on credit default. I mention this because I would like to think that after 12 years of honoring our commitments, someone at SPS would step up and to the right thing. Background on the 2 negative credit marks : The two negative marks in question are for the months of XX/XX/XXXX and XX/XX/XXXX. In both cases and well recorded the mountain area we lived was under severe weather warnings, mountain roads were closing regularly due to avalanche and trees were falling under the severe weight of what turned into a particularly harsh weather period. In XX/XX/XXXX snowfalls exceeding 1 foot per hour were recorded, and by XX/XX/XXXX the XXXX XXXX Mountains had already recorded their biggest winter in recorded history. In both cases we issued our payments, on time, for the mortgage. In both of these cases the next day our deposits were not processed due to issues at XXXX XXXX XXXX where our payments were being debited from. On those particular days the staff of the bank was not able to get in, either at all, or until late. And one person told us, their night deposit had frozen solid. When the issues came to light, I spoke immediately with the lender and corrected the payments. In both cases I was told they would keep this off my credit. Now I just feel lied to again. Now I do n't want to be given the run around, told to a letter from this person and submit to them and be sent in a circle between bank, lender, and credit bureau. I stepped up to my responsibilities for 12 years, through a horrible financial crisis, pinched pennies at times to make my payments on time. I 'd like to know that counts for something, and with someone.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation