Consumer complaint received 2023-12-05
Company: TRANSUNION INTERMEDIATE HOLDINGS, INC.
State: MI
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I had a billing dispute with XXXX XXXX XXXX XXXX over a late payment that was not sent in late it was a error on their part. XXXX reported the late payment on my credit report with Transunion XXXX and XXXX and with Transunion my score went down XXXX points. Once the billing dispute was corrected XXXX reported the payment to be on time and reversed the the late to current to TransUnion. Trans Union never increased or made a correction of the XXXX points and instead further reduced my credit another XXXX points. for a total of XXXX points. I contacted trans Union and go the run around and was told that they could not do anything about it it just they their system works. I believe this to be deceptive and fraudulent business practices. XXXX and XXXX also reduced my credit score by more than XXXX points but once the late payment was reversed my score only went a few point respectively with each. 

This is a clear misuse of power, and a intentional calculated manipulation of credit score reporting that has caused great financial harm, I am 100 % XXXX XXXX  on a fixed income and by the action of these credit reporting companies it has severely harmed me financially, so much to the point it will take years for me to recover from their abuse. 

These companies play a crucial role in determining individuals creditworthiness and financial stability, and it is imperative that they operate with the utmost integrity and transparency. However, there have been numerous instances where these companies have engaged in practices that are misleading, unfair, and harmful to consumers. 

Firstly, one of the most concerning practices is the inaccurate reporting of credit information. Credit reporting companies gather data from various sources, including lenders and creditors, to compile credit reports for individuals. However, errors in reporting are not uncommon and can have severe consequences for consumers. Inaccurate information can lead to lower credit scores, denial of credit applications, higher interest rates on loans, and even difficulties in securing employment or housing. This misinformation can persist on an individuals credit report for years, despite their efforts to rectify the situation. 

Furthermore, some credit reporting companies have been found to engage in the practice of re-aging debts. Re-aging is the process of changing the date of last activity on a debt account to make it appear more recent than it actually is. This deceptive tactic is used to extend the time period during which negative information remains on an individuals credit report. By doing so, these companies unfairly damage the creditworthiness of consumers and hinder their ability to improve their financial standing. 
Another concerning practice is the lack of transparency and accountability in the dispute resolution process. When consumers identify errors or inaccuracies on their credit reports, they have the right to dispute these items with the credit reporting companies. However, many individuals have reported experiencing difficulties in getting their disputes resolved in a timely manner or receiving adequate explanations for the decisions made by these companies. This lack of transparency undermines consumer trust and confidence in the accuracy of credit reports. 

In conclusion, the deceptive and fraudulent practices employed by certain credit reporting companies pose a significant threat to consumers financial well-being and overall trust in the credit reporting system. It is essential that the FTC Consumer Protection take immediate action to investigate these practices and enforce stricter regulations to ensure the accuracy, transparency, and accountability of credit reporting companies. Consumers rely on these reports to make important financial decisions, and they deserve fair treatment and accurate information. 

Thank you for your attention to this matter.

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 non-monetary relief