Consumer complaint received 2020-04-15
Company: EQUIFAX, INC.
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Dear Sir or Madame, I am looking for help with resolving a situation with invalid payments from a Predatory Loan and an inappropriate delinquency report which is causing a negative impact on my credit score. Im in a paradoxical situation from which I can not escape because of contradictory rules and limitations. 
Here are sequential details to support my request : My Mortgage loan with XXXX XXXX XXXX was initiated back in XXXX, where I was told that I need to use automatic payment option for multiple reasons. Since that time and until the time the loan matured, I always made payments on time and never had any delinquency ( or any issues ) with my mortgage payments. From time to time, I checked the consistency of my payments and noticed that remaining balance was gradually reducing. Please note that I never received any notifications that my mortgage loan was expiring, nor information/notifications about what my loan options are. 
In the middle of XXXX this year, I got the letter from XXXX with a notification about late payment ( copy is attached ) for my loan and late fees applied to my account. Immediately, I called my bank, from where payments were made, then the XXXX to verify that issue with missing payments. The bank representative told me that payments were initiated from XXXX XXXX XXXX  but were rejected by XXXX. Right after I called the XXXX Payment center and tried to pay over the phone. The over-the-phone payment was rejected as well, and XXXX reps started to verify what is going on with my account. After an investigation, the XXXX operator told me that my loan was matured and XXXX system couldnt accept my payments anymore. I asked how to resolve it, and I was told that I need to pay full amount ( {$78.00}, XXXX ) as a one-time payment. That was awful news for me to pay such a huge amount of money immediately. I asked what other options I have, and I was told that if I cant pay I can file a bankruptcy or get another loan. I asked about the loan refinance and I was transferred to XXXX Mortgage loan department. We started to work on the re-finance loan with the loan officer, XXXX XXXX. All loan applications were filed, and I provided all necessary documents including tax returns, insurances, paystubs, etc. Also, I paid {$400.00} for appraisal, which was done despite COVID-19 restrictions. After almost 3 weeks working with the Mortgage Loan department, everything was ready to submit my package to Underwriter. At that moment, XXXX called me and told me that they cant proceed with the loan because I have a delinquency on my account. 

During XXXX of XXXX I have a few calls from XXXX Collection department, and I was told that I have missing payments and they need to collect them. I tried to pay over the phone but XXXX  system cant accept the payments for that loan. When the Collection representative realized that, they advised me to call to the Mitigation Department and I talked to them about 4 times. Meanwhile, the XXXX notified Credit Bureau ( Equifax ) about these late payments. At the same time, I received statements with the indication that I had missing payments for XXXX and XXXX of XXXX. I believe that there is some technical glitch in the system, as XXXX tried to collect payments for an already expired loan. The worst issue is that my credit score, which I tried to maintain over the years, dropped to XXXX points after being above 700 points due to these missing payments from XXXX! 

I tried to explain to XXXX Loan Officer that that delinquency is a result of technical glitch in the payment system and I unsuccessfully to pay. The Loan officer told me that she understands it but cant help, because of the XXXX policy ( and any other banks ) that they cant issue loans to people who has delinquency in 12 months period. She suggested to submit a letter of explanation for Mortgage management. I sent that letter ( attached ), but XXXX called me next day and told me that her management cant help me, and I need to resolve it with XXXX Collection department. I called the XXXX   Collection department a few times, where I talked to a few different representatives and I was transferred multiple times between XXXX Customer Service, Mitigation, Payment and Collection departments without any help with proper resolution.

Company response to consumer: Closed with explanation