Consumer complaint received 2016-03-11
Company: EQUIFAX, INC.
State: CA
Product: Credit reporting
Issue: Credit reporting company's investigation
Sub-issue: Problem with statement of dispute

Complaint:
Equifax 's policy of removing positive standing closed accounts is based upon " Item As of Date Reported '' ( Reported Update Date ). This has caused numerous accounts of mine closed 10 years ago, to continue on my report because the account details have still updated, in some instances, to recent dates and/or dates of 5 years ago on an account/s paid and closed 10+ years ago.. 

Also, an account closed approx 10 years ago, has been re-updated to current year 2016, due to a recent investigation, now causing it to remain another 10 years, per Equifax Reported Update Date " Item As Of Date Reported '' timeframe re removal of account. 

I feel this is unfair to myself and other consumers because it is cause for a detrimental credit rating based on accounts that may be XXXX to XXXX XXXX XXXX. This also causes a consumer to have a lower credit score, and is not a consistent standard of credit monitoring since other reporting agencies remove positive closed accounts based on the Closed or Last Activity Date. Equifax informed me to ask the creditor to remove the account. XXXX creditor did, however others have given me a run around to various contact persons because they can not find my past account in their system. 

Asking Equifax to investigate so I could get the extremely outdated positive account removed, re-updated the " Item As Of Date Reported '' Status Date which is why it and other closed accounts will remain another 10 years. This is unfair practice on the part of Equifax. 

Equifax should be held accountable to begin acting in a Good Faith effort of acting as a responsible and professional, consumer friendly outfit by utilizing the Last Activity or Closed Date of credit accouns, for their proper updating purposes of positively closed credit accounts. 

Again, my account/s of 10 years ago that are remaining on my Equifax report were good standing closed accounts. The potential of them remaining for XXXX to 20 years past the closed or last activity date is unfair and simply put, mean. 

Please assist consumers in acquiring a Fair Practice standard for Equifax to utilize, re removal of positive / outdated credit accounts from Equifax consumer credit reports. Equifax presents a bias of negativity toward consumers by utilizing their " Item As Of Date Reported '' method for removal of positive and extremely outdated credit accouns. This method is unfair and not ethical. Their methods serve as detrimental to consumers. 

Additionally, XXXX my former negative accounts was not removed after 7 years, due to their unfair removal methods. Because of the acquired updated reporting data obtained by Equifax , the negative standing date of 7 years dropped of the account records, but the account itself updated in Equifax records, causing the " Item As Of Date Reported '' Date to Update beyond the 7 year date that the account was supposed to be removed from my Equifax report by Equifax. 

This account remains unfairly on my Equifax report with XXXX other accounts that have been closed for approx XXXX11+ years and in good standing. But since Equifax has updated " Item as of Date Reported '' Dates, the accounts may never remove because Equifax could continue to request updated details for the accounts and that is unfair and unprofessional practice on the part of Equifax. 

Please investigate Equifax and hold them accountable to conduct business fairly toward myself and other consumers. Thank you.

Company response to consumer: Closed with explanation