Consumer complaint received 2022-03-25
Company: Experian Information Solutions Inc.
State: CT
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:
To whom it may concern, As it so happens, I wrote to XXXX XXXX  XXXXXXXX XXXX ( Lender ) exactly one year ago on XX/XX/XXXX, requesting the removal of Past Due negative marks on all three credit reports for _______ ( Borrower ) account XXXXXXXXXX. 

Stating the removal of Past Due negative marks on the Borrower 's credit reports was a part of the XX/XX/XXXX loan modification agreement with the Lender. The loan modification being the resolution to a dispute, from XX/XX/XXXX to XX/XX/XXXX, over the mismanagement of account XXXXXXXXXX, in which the Lender admitted to multiple erroneous errors. 

The Lender replied stating they did not mismanage account XXXX and the reporting of Past Due payments on the Borrowers account was in accordance with the FCRA. The Lender declined to remove the negative Past Due reporting for account XXXX  between XX/XX/XXXX and XX/XX/XXXX from the XXXX, Experian, and XXXX credit reports. 

I left the issue alone until I recently uncovered and reviewed communications between the Borrower and Lender during the dispute and the XX/XX/XXXX Loan Modification Agreements between Borrower and Lender. 

An XX/XX/XXXX letter from the Lender, responding to the Borrower 's Consumer Financial Protection Bureau ( CFPB ) complaint submitted XX/XX/XXXX, regarding the mismanagement of account XXXX, states, While XXXX admits errors were made on the account, we also assert all errors have been corrected as stated in the XX/XX/XXXX response. 

The Lender admits fault to mismanaging account XXXX  in two letters. Yet, in a XXXX letter, the Lender stated they did not mismanage account XXXXXXXXXX and decline the removal of negative Past Due reports from the Borrowers credit reports. 

The XX/XX/XXXX Loan Modification Agreement documents state, in two locations : As previously described, if you ( Borrower ) comply with the terms of the trial period plan, we ( Lender ) will modify your mortgage loan and waive all prior late charges that remain unpaid. and If you ( Borrower ) fulfill the terms of the trial period including, but not limited to, making any remaining trial period payments, we ( Lender ) will waive ALL late charges that have accrued and remain paid at the end of the trial period. '' A review of account XXXX  payment history shows the Lender, in reparation for the mismanagement of account XXXX, waived ALL late charges accrued during the dispute between XX/XX/XXXX and XX/XX/XXXX on XX/XX/XXXX. 

I argue, one may surmise the removal of negative Past Due reporting on the Borrowers XXXX, Experian, and XXXX credit reports to be equal to the waiving of ALL late fees between XX/XX/XXXX and XX/XX/XXXX as reparations for the mismanagement of account XXXX. 

I formerly request the Lender remove the negative Past Due reporting from the Borrowers XXXX, Experian, and XXXX credit reports. 

In addition to the issue with Past Due reporting on the Borrowers credit report, the Borrowers credit report shows a balance of {$150000.00}, which differs from the balance of {$100000.00} reported on the monthly statements and the online customer service dashboard at XXXX for account XXXXXXXXXX. 

In XX/XX/XXXX the Lender deferred {$48000.00} of the principal balance on account XXXXXXXXXX until XXXX/XXXX/XXXX. On XX/XX/XXXX the Interest Bearing Principal Balance on account XXXXXXXXXX changed to {$110000.00}, yet this change was never updated in the Borrowers XXXX, Experian, or XXXX credit reports. 

When the Borrower reaches out to a potential lender for credit, they receive a rejection letter stating that the principal balance on the mortgage is too high. However, between XX/XX/XXXX and XX/XX/XXXX, the principal balance on account XXXXXXXXXX has decreased {$8500.00} or 7.5 %. The Borrower is paying on the Interest Bearing Principal Balance, not the Deferred Principal Balance, yet the credit report After reviewing my credit report I now understand why. The Lender is reporting the Interest Bearing Principal Balance and the Deferred Principal Balance as a whole. This way of reporting the Principal Balance is proving to have a negative effect on the Borrowers ability to obtain credit as potential creditors see the Borrower paying very little on combined balances.

Please have the Borrowers XXXX, Experian, and XXXX credit reports updated to reflect the proper Interest Bearing Principal Balance of {$100000.00}, and properly report the 40 years, {$48000.00} Deferred Principal Balance so the Borrower is no longer receiving rejection notifications stating that their principal balance on the mortgage compared to the length of the loan is too high. 

Thank you for your time and patience while working to correct the information on the Borrowers XXXX, Experian and XXXX credit reports for account XXXX. 

From the multiple erroneous errors in XXXX, the Lender 's lack of action to update the Borrowers credit report with the modified principal balance and 40-year deferment in XX/XX/XXXX, the XX/XX/XXXX denial of mismanagement of the Borrowers account, and refusal to remove negative past due to credit reports in compliance with the XX/XX/XXXX modified loan agreement, the Lender has mismanaged and misrepresented account XXXX  for seven years. 

In addition to the removal of Past Due marks from XX/XX/XXXX to XX/XX/XXXX, and updating the principal balance to reflect the Interest Bearing Principal, the Borrow also requests the 8 remaining Past Due marks from XXXX onward be removed from the XXXX, Experian, and XXXX credit reports as reparation for the past five years of incorrect reporting on the Borrowers credit report. 

Please let us wipe the slate clean and start over. 

Thank you, XXXX XXXX

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