Consumer complaint received 2022-06-26
Company: Experian Information Solutions Inc.
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Problem with personal statement of dispute

Complaint:
Consumer Complaint In XXXX of XXXX, I took out a boat loan with XXXX  XXXX XXXX. I have never missed a payment or was late with a payment. XXXX XXXX XXXXXXXX XXXX now claims that the debt is unpaid and delinquent and has put a Charge Off on my credit report. Because of the Charge Off my credit score went from XXXX in XXXX, XXXX to XXXX in XXXX, XXXX. I have never in my XXXX  years ever not repaid any loan or charge that I had made. 

HISTORY : In XXXX, I procured a boat loan to purchase XXXX-XXXX XXXX XXXX docked in XXXXXXXX XXXX. XXXX XXXX XXXX XXXX insured the boat. 

On XX/XX/XXXX, Hurricane Michael hit XXXX XXXXXXXX XXXX and did severe damage including to the XXXX XXXX. XXXX denotes XXXX its mast sticking up at the end of the dock. It was one of the two boats left floating in a large marina. 


After the hurricane, XXXX XXXX surveyor made the final decision to have the repairs needed done. It was hauled out in XXXX XXXX and spent 6 months being repaired at a cost of over {$40000.00}. The XXXX XXXX manager brought to the attention of XXXX that he believed there would be further problems, but XXXX told him to repair only what he could see. From XXXX of XXXX until XXXX of XXXX, there was extensive water intrusion causing wood rot from cracks on the deck. We believed that during Hurricane Michael that the three hulls of the XXXX  flexed as it pushed up against the dock but did not immediately exhibit any visible signs of stress fractures. 

After attempts to contact XXXX XXXX XXXX XXXX ( XXXX ) which were ignored in XXXX of XXXX, I contacted the XXXX Department XXXX XXXX XXXX, Division of XXXX XXXX and requested that the XXXX XXXX XXXX XXXX ( XXXX ) claim be reopened and with their help the claim was reopened. 

XXXX decided after investigation that XXXX was a total loss and made an initial written settlement offer on XXXX of {$92000.00} which would have covered the balance of the loan which was {$67000.00}. I accepted that offer in writing. 

On XXXX the XXXX offer agreed to by both parties was rescinded due to a XXXX staff members grievous error. I have all the documentation of this event. The new settlement was for {$51.00}, XXXX which left {$19000.00} owed to XXXX  XXXX XXXX for the loan. 

I received a letter dated XX/XX/XXXX from XXXX  XXXX XXXX which stated the full balance was due in 60 days, but no date was listed. That letter is the only written correspondence I have received. The only method of contact was through a phone number written in the letter. 

I called the number given and told the staff person that I didnt know how I could repay in full, and she told me to wait the 60 days and then I would get a settlement offer but nothing about the ramifications from that decision. 

Then, I received a phone call as I recall on XX/XX/XXXX as I was driving on an interstate highway to my first Doctors appointment at XXXX University XXXX XXXX in XXXXXXXX XXXX. The clinic was over 6 hours from my home in XXXXXXXX XXXX. I told the caller that I couldnt speak with her at that time and because I did not what was going to happen at the appointment that I didnt know when I would be available. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  and am taking XXXX a very powerful medication often used to treat XXXX. XXXX has major side effects. I experience confusion, XXXX, concentration problems, XXXX and fatigue that left me unable to process what was going on in my life. 

XXXX I called and spoke with XXXX XXXX ( name may not be correct ) She gave me some figures for a settlement offer over the phone that were good for 20 days. There was no explanation : 70 % of {$13000.00}, deficiency of {$5600.00}. I asked to have information sent to me to explain. The customer service person said she would ask her supervisor, but nothing was sent in writing to explain what this meant. 

XXXX Spoke with XXXX XXXX ( name may not be correct ) to obtain more information. 

XXXX Later, I spoke with XXXX XXXX ( name may not be correct ). I told her that I will pay the full amount owed. I set up a temporary 6-month payment plan and will pay {$660.00} by the second of each month by phone. 

I made two payments in XXXX of {$660.00} and wanted to find a way to obtain some type of loan from XXXX  XXXX XXXX to finish paying off the loan. On XX/XX/XXXX, I wrote a letter to XXXX XXXX, President of Retail Banking  at XXXX  XXXX XXXX, she is over Client Experience explaining what had happened with my health and asking her to help me obtain a XXXX  XXXX XXXX loan and/or payment plan and to remove the Charge Off from my credit report because I had been a good customer and have never missed any payments. I asked her to respond in writing. XX/XX/XXXX, I received a call from XXXX XXXX, XXXX XXXX representative. She said there was nothing XXXX XXXX was willing to do. Without the Charge Off being removed from my credit report, there is no way to apply for loan to repay the full amount in a lump sum payment. 

Nothing is ever put in writing ; it is always a phone call which they record. How can the customer really understand the substance of what they are telling you or offering you without a written proposal? 

I have worked my whole life to achieve an exceptional credit history and to have it ripped from me when I have never missed a payment to XXXX  XXXX XXXX and to have my financial reputation ruined when I have made payments for 10 years faithfully and intend to continue to pay. What a client experience! Is there anything you can do to help me to find a way to resolve the issue?

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