Consumer complaint received 2024-12-10
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Arivo Acceptance, LLC (AZ)

This is the second issue I have had with Arivo Acceptance regarding their reporting of my auto loan account. I previously financed a vehicle through this company. Upon reviewing my credit report, I noticed multiple inaccuracies and inconsistencies : Inaccurate Payment Status : My credit report shows a " 30 days past due '' entry, but the payment status states " pays account as agreed. '' This conflicting information is misleading and impacts my creditworthiness. 

Incorrect Payment History : The payment history for this account is incorrect. Specifically : " XXXX '' ( Not Reported ) entries appear for XXXX, XXXX, and XX/XX/XXXX, as well as XXXX, XXXX, and XX/XX/XXXX. 

XX/XX/XXXX is incorrectly reported as 30 days late, despite the fact that I have never been late on payments. 

XX/XX/XXXX is marked as an " OK '' payment, which conflicts with the previous erroneous XXXX late entry. 

Trade-In Documentation : This vehicle was in the possession of XXXX XXXX XXXX XXXX time of these alleged late payments, as I had traded it in. I have never been late on my payments. 

Applicable Laws and Violations : Arivo Acceptances reporting practices violate the following federal laws and regulations : Fair Credit Reporting Act ( FCRA ) 15 U.S.C. 1681 et seq. : 1681e ( b ) ( Duty to Ensure Accuracy ) : Credit reporting agencies ( CRAs ) and furnishers of information, such as Arivo Acceptance, are required to report accurate and complete information. The inconsistencies and inaccuracies in my payment history and payment status violate this provision.

1681s-2 ( a ) ( Responsibilities of Furnishers of Information ) : Arivo Acceptance failed to provide accurate information to CRAs and did not promptly correct errors, violating their responsibilities as a furnisher of credit information.

1681i ( Dispute Resolution ) : Upon dispute, CRAs and furnishers must investigate and correct errors in a timely manner. The persistence of these errors suggests a failure to adequately investigate or correct the issues.

Consumer Financial Protection Act ( CFPA ) 12 U.S.C. 5531 et seq. : Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) : Misreporting credit information and failing to correct errors may constitute deceptive practices under the CFPA, as these actions can harm consumers ' creditworthiness and financial standing.

Regulation V 12 C.F.R. 102.42 : This regulation implements the FCRA and outlines furnishers ' obligations to ensure the accuracy and integrity of information provided to CRAs. Arivo Acceptances actions appear to contravene these requirements.

Resolution Requested : Correction of Credit Report : I request that all inaccuracies in my credit report related to this account be corrected immediately. This includes the removal of the incorrect " 30 days past due '' entry and ensuring accurate payment history for XXXX, XXXX, and XX/XX/XXXX, as well as XXXX, XXXX, and XX/XX/XXXX. 

Confirmation of XXXX XXXX : XXXX that the vehicle was in the possession of XXXX XXXX XXXX XXXX time of the alleged late payments, and corresponding corrections to the payment history. 

Compliance Assurance : Assurance that Arivo Acceptance has implemented measures to comply with FCRA and Regulation V requirements to prevent future inaccuracies.

Damages for Credit Impact : Compensation for any financial or credit harm caused by the inaccuracies in my credit report.

Conclusion : Arivo Acceptances failure to report accurate information has caused undue harm to my creditworthiness. I urge the CFPB to investigate this matter and hold Arivo Acceptance accountable for violations of federal credit reporting laws and regulations.