Consumer complaint received 2024-09-02
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: TRANSUNION INTERMEDIATE HOLDINGS, INC. (VA)

I am sharing my experience to shed light on the critical importance of accurate credit reporting and the significant consequences when errors go uncorrected. 
I am formally disputing several significant errors on my credit report related to an account with XXXX. These errors, which include discrepancies in the reported creditors name, missing balance and payment information, and inconsistencies in reporting dates, have negatively impacted my credit score and overall financial standing. These issues raise serious concerns about compliance with the Fair Credit Reporting Act ( FCRA ) and the Fair Credit Billing Act ( FCBA ).

Key Issues : 1. Discrepancy in Creditor Name : The creditors name is inaccurately listed as XXXX, which does not match the correct legal name of the entity. This misrepresentation raises serious concerns about whether the entity is correctly identified, potentially leading to significant inaccuracies on my credit report. This issue directly violates 15 US Code 1681s-2 ( a ) ( 1 ) ( A ), which mandates that creditor information provided to Consumer Reporting Agencies ( CRAs ) must be accurate.

2. Missing Balance and Monthly Payment Information : My credit report reflects a balance of {$0.00} as of XX/XX/XXXX, but it lacks detailed information about the payments leading to this balance. Specifically, the report lists the last payment date as XX/XX/XXXX, while the account was closed on XX/XX/XXXX. This discrepancy between the last payment date and the account closure date raises concerns about the accuracy and completeness of the reported information. This could constitute a billing error under 15 US Code 1666 ( b ) and may also violate 15 US Code 1681s-2 ( a ) ( 1 ) ( A ).

3. Incomplete Terms Duration : The Terms Duration is listed as XXXX, which is incomplete and complicates my understanding of the accounts terms. This omission violates XXXX XXXX XXXX XXXX ( a ) as it reflects incomplete and potentially misleading information being reported to CRAs. 
4. Potential Inaccuracies in High-Balance Reporting : The high balance is reported as {$6000.00}, which exceeds the credit limit of {$5700.00}. However, there is no explanation provided regarding how this over-limit balance was accumulated or if any penalties were applied. This information is essential for accurate reporting and compliance with 15 US Code 1681e ( b ).

5. Inconsistent Reporting Dates : The account is reported as Charge off with a closing date of XX/XX/XXXX, yet the last reported date is XX/XX/XXXX. Additionally, there is no information on payments made after XX/XX/XXXX, leading up to the account closure. These discrepancies suggest potential violations of XXXX XXXX XXXX XXXX ( a ). 
XXXX. Lack of Transparency Regarding Account Ownership : The account is listed as Purchased by another lender, but there is no information provided on the date of the charge-off or whether the debt remains with the original creditor or has been sold to another lender. This lack of transparency regarding account ownership violates 15 US Code 1681g ( a ) ( 2 ), which requires CRAs to disclose the full identifying information of any entity that has furnished information about the consumer.

I am particularly concerned with the CRAs handling of this dispute. Despite initiating the dispute more than 30 days ago, the CRAs have not provided a resolution or taken corrective action. Under 15 US Code 1681i ( a ), CRAs are required to conduct a timely and thorough reinvestigation of disputed information, typically within 30 days. The delay in resolving these issues is unacceptable and may constitute a violation of the FCRA.

I am requesting a thorough investigation into this account under both the FCRA and the FCBA. If the legal creditor can not verify the accuracy of the reported information, I demand that all incorrect entries be permanently removed from my credit report. CRAs must act promptly to investigate and correct any inaccuracies or unverifiable information.

I authorize and direct ( 1 ) the consumer reporting agency identified in my complaint to share determinations of and actions taken by the company for the purpose of responding to my complaint, and ( 2 ) the CFPB to share this information with certain government agencies. The information provided is true to the best of my knowledge and belief. I understand that the CFPB can not act as my lawyer, a court of law, or a financial advisor.

Distribution List : Consumer Financial Protection Bureau ( CFPB ) Federal Trade Commission ( FTC ) Defense Finance and Accounting Service ( DFAS ) State of Indiana Attorney Generals Office Attorney General of Virginia Office Army and Air Force Exchange Service ( AAFES ) This summary is intended to assist the CFPB and other consumers in understanding how the Army and Air Force Exchange Service is addressing the concerns raised in my complaints. It also promotes accountability and transparency in credit reporting practices.