Consumer complaint received 2022-07-01
Company: Experian Information Solutions Inc.
State: IN
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:
I took out a self-lending " loan '' with XXXX where the loan is funds that I pay to myself in an account. When the loan matures, I cash the loan out with a withdrawal. In the meantime, XXXX reports to the bureaus that I am making payments. I had the account set up on auto payment, which is a requirement of the company when you set the account up ( it must be linked to an account ) and they didn't take the payments out of the account. There were always funds in this account as this was the account that my direct deposits were going into and I was always employed and I had my withdrawals scheduled for when my direct deposits were put into the account. I followed up with XXXX but they don't have any customer service agents who speak English as their first language and the language barrier was difficult to break through. I kept trying to process the payments but they kept reporting the payments as past due when I kept explaining that there appeared to be an issue with their auto-payment system because the account had money in it and I had verified the numbers were accurate, even unlinked and re-linked the account. Instead, XXXX, single-handedly brought my score down more than 100 points when I had enlisted their services to boost my scores. I was obviously in good standing because they extended an offer for a credit card, which I accepted to try to rebound my score a bit. They continue to report the account as charged off when it is NOT charged off. It is in good standing as the attached screenshots show. In fact, when I finally had enough and closed the accounts, XXXX paid ME the money they owed me for self-lending. since this was me lending myself money by paying into a savings account for the soul purpose of trying to boost my credit score. I have tried disputing this but XXXX doesnt ever fix the propblem. Now, I am about to lose {$10000.00} in earnest money and the home I am under contract on and be without a home for my family to live in ( because I already sold my home on XX/XX/XXXX ) due to their derogatory marks. Their derogatory marks need to be removed as this is the only thing preventing me from closing on my home and they are being reported in error as the documentation that I am uploading clearly shows. 

Additionally, when I opted to close the account early, there were fees assessed that weren't itemized. I have NEVER been provided a statement or itemization explaining these fees. When I log in through the app and on the computer, there is ZERO transparency and no access to past statements showing balances, fees, payments, etc. There is no truth in lending or transparency and leaves a lot to the consumer to question and wonder about where their money is going. 

I have a very short period of time for this to be resolved before my EMD is forfeited to the seller of the home. I ask that this is resolved in a timely manner. Thank you.

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