Consumer complaint received 2024-09-02
Product: Money transfer, virtual currency, or money service — Money order, traveler's check or cashier's check
Issue: Unexpected or other fees — 
Company: Experian Information Solutions Inc. (AR)

What happened? 
Description of the Issue : On XX/XX/year>, I purchased a vehicle from a dealership with an agreed cash price of {$14000.00}. To cover this amount, I secured a personal loan from XXXX  XXXX XXXX XXXX ( XXXX ) for {$13000.00}, requiring a {$1000.00} down payment. XXXX issued a cashiers check for {$13000.00} made out to both me and XXXX XXXX. I cashed this check at XXXX XXXX  and obtained a new cashiers check for {$14000.00}, which I used to pay the dealership in full. After the transaction, I received a title indicating XXXX as the lien holder, which contradicted the dealership 's documentation stating the vehicle was paid in full. XXXX subsequently obtained a new title with themselves listed as the lien holder, which has prevented me from registering the vehicle and obtaining tags. The vehicle was repossessed once, despite the full payment, but was returned after I provided proof of payment. I am now facing a threat of further repossession by the sheriffs department due to the unresolved lien issue. I filed a complaint disputing this matter with XXXX and other relevant parties. It has now been 60 days since the complaint was filed, and neither XXXX nor any other party has contacted me regarding the resolution of this issue. Supporting Documents : Copy of the dealerships paid-in-full statement dated XX/XX/year>. Copy of the cashiers checks issued by XXXX and XXXX XXXX. Copy of the title with XXXX listed as the lien holder. Correspondence from the DMV regarding the lien and title issue. Documentation related to the previous repossession and its resolution. 15 USC 1681 - Fair Credit Reporting Act ( FCRA ) 15 USC 1681a - Definitions ; Rules of Construction This section defines key terms used in the FCRA. 15 USC 1681b - Permissible Purposes of Reports Details the permissible reasons for which a consumer report can be accessed. 15 USC 1681c - Requirements Relating to Information Contained in Consumer Reports Outlines what information can and can not be included in consumer reports. 15 USC 1681d - Disclosure of Consumer Reports to Consumers Requires that consumers be informed about the information contained in their credit reports. 15 USC 1681e - Compliance Procedures Discusses the procedures that must be followed to ensure accuracy in consumer reports. 15 USC 1681f - Disclosure of Information to the Consumer Reporting Agency Addresses the rights of consumers to provide information to credit reporting agencies. 15 USC 1681g - Disclosure of Consumer Reports Provides consumers the right to obtain a copy of their credit report. 15 USC 1681h - Charges for Certain Disclosures Details the fees that may be charged for obtaining a credit report. 15 USC 1681i - Procedure in Case of Disputed Accuracy Outlines the process for disputing inaccuracies in a credit report and the responsibilities of credit reporting agencies. 15 USC 1681j - Notice of Negative Information Requires that consumers be notified of negative information affecting their credit report. 15 USC 1681k - Requirements on Users of Consumer Reports Sets requirements for users of consumer reports, including those who might access your credit report. 15 USC 1681l - Civil Liability for Willful Noncompliance Details the civil liability for willful noncompliance with the FCRA. 15 USC 1681m - Duties of Users of Consumer Reports Outlines the responsibilities of those who use consumer reports, including notification of adverse actions. 15 USC 1681n - Civil Liability for Negligent Noncompliance Specifies civil liability for negligent noncompliance with the FCRA. 15 USC 1681o - Civil Liability for Failure to Comply Provides for civil liability for failure to comply with the requirements of the FCRA. XXXX XXXX XXXX and National Credit Union Acts : National Credit Union Administration ( NCUA ) Regulations 12 USC 1751 - Purpose and Policy Defines the purpose and policies for the National Credit Union Administration. 12 USC 1753- Powers of Credit Unions Details the powers granted to credit unions. 12 USC 1766- Administration and Supervision Outlines the administrative and supervisory responsibilities of the NCUA. 12 USC 1781- Insurance of Accounts Provides for the insurance of credit union accounts. 12 USC 1785- Examination and Reporting Discusses the examination and reporting requirements for credit unions.

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Inactive modal Inactive modalEdit this section What would be a fair resolution to this issue? 
I am seeking the following resolution to this issue : Correction of Records : XXXX XXXXXXXX XXXX XXXX XXXX should immediately update all records to reflect that the vehicle was paid in full with a cashiers check and that there is no lien on the vehicle. This includes rectifying any erroneous claims of a lien on the vehicle with both the dealership and the DMV. Restoration of Vehicle Title : XXXX  XXXX XXXX XXXX XXXX must notify the DMV to remove any false lien and ensure that I receive a clear title reflecting that the vehicle is paid in full. Reimbursement : I request reimbursement for any fees or costs incurred due to this error, including but not limited to fees related to the repossession and any additional expenses incurred while resolving this issue. Written Apology and Confirmation : A written apology and formal confirmation from XXXX  XXXX XXXX XXXX XXXX acknowledging the error and outlining the steps taken to correct it. Investigation and Policy Review : An internal investigation into how this error occurred and a review of policies to prevent such issues in the future. Resolution Request : I am seeking the following resolution to this issue : Correction of Records : XXXX XXXX XXXX XXXX XXXX must immediately update all records to reflect that the vehicle was paid in full with a cashiers check and that there is no lien on the vehicle. This includes rectifying any erroneous claims of a lien on the vehicle with both the dealership and the DMV, in compliance with the Fair Credit Reporting Act ( FCRA ) provisions under 15 U.S.C. 1681i ( Duty of credit reporting agencies to correct or delete inaccurate information ). Restoration of Vehicle Title : XXXX  XXXX XXXX XXXX XXXX must notify the DMV to remove any false lien and ensure that I receive a clear title reflecting that the vehicle is paid in full, as per 15 U.S.C. 1681s-2 ( Responsibilities of furnishers of information to consumer reporting agencies ) which mandates accurate reporting. Reimbursement : I request reimbursement for any fees or costs incurred due to this error, including but not limited to fees related to the repossession and any additional expenses incurred while resolving this issue, in alignment with 15 U.S.C. 1681n ( Civil liability for willful noncompliance ) and 15 U.S.C. 1681o ( Civil liability for negligent noncompliance ). Written Apology and Confirmation : A written apology and formal confirmation from XXXX XXXX XXXX XXXX XXXX acknowledging the error and outlining the steps taken to correct it, as required by 15 U.S.C. 1681e ( Requirements relating to information contained in consumer reports ). Investigation and Policy Review : An internal investigation into how this error occurred and a review of policies to prevent such issues in the future, adhering to 15 U.S.C. 1681b ( Permissible purposes of consumer reports ) and 15 U.S.C. 1681c ( Accuracy of information ).