Consumer complaint received 2024-10-11
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Investigation took more than 30 days
Company: EQUIFAX, INC. (VI)

Dear CFPB, I am writing to file a formal complaint against Equifax for their continued refusal to comply with federal laws governing the removal of fraudulent accounts from my credit report. Despite my submission of all necessary documentation proving that I am a victim of identity theft and that these accounts were a result of the XXXX XXXX XXXX, Equifax has failed to meet their legal obligations. Their actions have caused me significant financial harm and placed me at ongoing risk of further damage. 

Background : As a victim of identity theft, my personal information was compromised in the XXXX XXXX XXXX. This resulted in several fraudulent accounts being opened in my name without my consent, which has severely harmed my credit standing. 

Upon discovering these fraudulent accounts, I took the following steps : XXXX. I filed an identity theft report with the Federal Trade Commission ( FTC ). 
XXXX. I submitted my FTC Identity Theft Report and all required documentation to Equifax, requesting the immediate removal of the fraudulent accounts from my credit report. 

Additionally, I have physical proof in the form of letters from XXXX, XXXX XXXX XXXX, and XXXX XXXX, all of which confirm that I have been a victim of identity theft. These letters directly prove that these accounts were opened fraudulently. Despite this clear and indisputable evidence, Equifax has refused to remove these accounts in direct violation of federal law.

Legal Violations : Equifaxs failure to act within the legal time frame and their failure to properly investigate and remove these fraudulent accounts violates multiple provisions of federal law, including : 1. Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681c-2 : Equifax is required by law to remove fraudulent accounts within four business days of receiving proper documentation, which includes the FTC Identity Theft Report. I provided all necessary documentation, yet Equifax has failed to remove these accounts within the mandated timeframe. This is a blatant violation of the FCRA, specifically Section 605C, which outlines the requirements for credit reporting agencies to take prompt action upon receipt of identity theft documentation.

2. Fair Debt Collection Practices Act ( FDCPA ), 15 U.S.C. 1692 : Under the FDCPA, it is unlawful for any collection activities to occur on fraudulent accounts that result from identity theft. Because Equifax has refused to remove these fraudulent accounts, I remain vulnerable to collection activities, which is a direct violation of this law. I am still facing the possibility of being pursued for debts I do not owe.

3. Fair and Accurate Credit Transactions Act ( FACTA ), 15 U.S.C. 1681g : FACTA requires credit reporting agencies to thoroughly investigate and correct inaccurate or fraudulent information following an identity theft report. Despite my FTC report and supporting documentation, Equifax has failed to investigate and correct these fraudulent items, in violation of their obligations under FACTA.

4. FCRA, 15 U.S.C. 1681i Failure to Conduct a Reasonable Investigation : Equifax is also obligated to conduct a reasonable investigation when a dispute is filed regarding the accuracy of the information on a consumers credit report. Equifax has failed to conduct any reasonable investigation, given that they have continued to rely on unverified and fraudulent responses from creditors, despite the fact that I have provided indisputable proof of the fraudulent nature of these accounts.

5. FCRA, 15 U.S.C. 1681e ( b ) Failure to Ensure Maximum Possible Accuracy : Under the FCRA, Equifax is required to ensure that the information they report on consumers is accurate. By continuing to report fraudulent accounts after being informed of their fraudulent nature, Equifax has violated its responsibility to ensure the maximum possible accuracy of the information on my credit report.

Accounts in Question : The following fraudulent accounts remain on my credit report despite my formal dispute and the supporting documentation provided : XXXX. XXXX XXXX Account number XXXX. Closed account with XXXX late payments. 
XXXX XXXX XXXX  : Account number XXXX. Closed account with XXXX late payments. 
XXXX. XXXX XXXX : Account number XXXX. Closed account with late payments. 
XXXX XXXX XXXX XXXX XXXX Account number XXXX. Closed account with {$8800.00} past due as of XX/XX/year>. 
XXXX. XXXXXXXX XXXX : Account number XXXX. Closed account with XXXX late payments. 
XXXX. XXXX XXXX XXXX XXXX : Account number XXXX. Closed account with XXXX late payments. 
XXXX. XXXX XXXX : Account number XXXX. Closed account with late payments. 

Immediate Action Required : As Equifax has demonstrated a pattern of willful noncompliance with the law, I demand immediate action. Specifically : 1. Immediate Removal of All Fraudulent Accounts : Equifax must delete all of the fraudulent accounts from my credit report within the legally required timeframe.

2. Cessation of Collection Activities : Any collection activities related to these fraudulent accounts must cease immediately, in accordance with the FDCPA. 
XXXX. Correction of Credit Report : My credit report must be corrected to reflect the removal of these fraudulent accounts, and I must receive written confirmation of these corrections. 
XXXX. Compensation for Damages : As allowed under the FCRA, I am seeking compensation for the financial harm caused by Equifaxs failure to comply with federal laws. I have experienced credit denials, damage to my financial reputation, and significant stress due to Equifaxs negligence and failure to act.

Equifaxs continued failure to comply with these laws has caused me considerable financial and emotional harm. I expect the CFPB to act swiftly and ensure that Equifax meets its legal obligations to protect consumers like me from further harm. 

Conclusion : Equifax has violated multiple provisions of federal law, including the FCRA, FDCPA, and FACTA, and they have failed to take reasonable steps to correct these violations. I trust that the CFPB will hold them accountable and ensure that they fulfill their legal responsibilities to protect consumers from identity theft and financial harm. 

Thank you for your prompt attention to this matter. I look forward to your assistance in ensuring that my credit report is corrected, and that Equifax is held accountable for their willful noncompliance.