Consumer complaint received 2024-09-04
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: Experian Information Solutions Inc. (VA)

I am sharing my experience to highlight the critical importance of accurate credit reporting and the damaging consequences when errors are not corrected. I am formally disputing significant inaccuracies on my credit report related to an account with XXXX XXXX XXXX XXXX. These errors include discrepancies in the reported creditors name, missing balance and payment information, inconsistencies in reporting dates, and a lack of transparency regarding the ownership of the account. These inaccuracies have negatively impacted my credit score and overall financial standing, raising 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 XXXX XXXX XXXX, which may not match the legally registered name. Additionally, billing statements use XXXX XXXX, conflicting with the entitys official charter name. This inconsistency raises serious concerns about whether the entity is correctly identified on my credit report, potentially violating my rights under the FCRA. 
XXXX. Missing Balance and Monthly Payment Information : The credit report reflects a balance of {$4900.00} as of XX/XX/XXXX, but there is no detailed payment history showing how this balance was reached. The absence of this information may constitute a billing error under the FCBA and violates the FCRAs requirement that furnishers report accurate and complete information to consumer reporting agencies ( CRAs ). 
XXXX. Incomplete Terms Duration : The Terms Duration for this account is listed as XXXX, but it is unclear whether this refers to months, payments, or some other term. This incomplete information complicates my understanding of the accounts terms and violates the FCRAs mandate for accuracy in credit reporting. 
XXXX. Inaccuracies in High-Balance Reporting : The high balance on this account is reported as {$3900.00}, while the current balance is listed as {$4900.00}. The discrepancy between these figures is not explained, raising concerns about the accuracy of the reported information, which is essential for a correct and complete credit history. 
XXXX. Inconsistent Reporting Dates : The account is marked as Charge off, but the dates listed for the account, such as the Date Opened ( XX/XX/XXXX ) and Date Last Reported ( XX/XX/XXXX ), show inconsistencies. These discrepancies suggest potential errors in the way the information is being recorded, violating the FCRAs standards for accurate reporting. 
XXXX. Lack of Transparency Regarding Account Ownership : The account status indicates Charge off, but there is no clear information regarding whether the debt has been transferred to another lender or remains with XXXX XXXX XXXX XXXX. Evidence suggests that the account may have been sold to a debt collection agency as of XX/XX/XXXX, but the lack of transparency violates the FCRAs requirement to provide full identifying information for any entity that has furnished consumer data. 
Despite initiating this dispute over 30 days ago, the CRAs have failed to resolve these issues. Under the FCRA, CRAs are required to conduct a timely and thorough reinvestigation of disputed information. The delay in addressing these errors is unacceptable and constitutes a potential violation of federal law. 
Request for Action : I am formally requesting a comprehensive investigation of these issues under both the FCRA and the FCBA. If the creditor or furnisher can not verify the accuracy of the reported information, I demand that all incorrect or unverifiable entries related to this account be permanently removed from my credit report. The CRAs are legally obligated to promptly investigate and correct any inaccuracies or incomplete information to ensure that my credit report is fair and accurate. 
Distribution List : Consumer Financial Protection Bureau ( CFPB ) Federal Trade Commission ( FTC ) National Credit Union Administration ( NCUA ) State of Indiana Attorney Generals Office Attorney General of Virginia Office XXXX XXXX XXXX XXXX This summary is intended to help the CFPB, other regulatory agencies, and consumers understand the nature of my dispute and the critical need for accountability and transparency in credit reporting practices.