Consumer complaint received 2024-10-08
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: EQUIFAX, INC. (PA)

This is a formal dispute regarding the inaccurate reporting of the above-referenced account on my credit report. I have requested an investigation into this account multiple times, yet the errors remain unresolved. This is my third request for these inaccuracies to be corrected. Due to the creditors failure to provide accurate information and the continued discrepancies, I am requesting that this account be immediately removed from my credit report. 

Inaccuracies and Discrepancies : 1. Incorrect Charge-Off Reporting : XXXX The account has been closed since XX/XX/XXXXXXXX XXXX yet it continues to report as charge-off ( CO ) from XX/XX/XXXX through XX/XX/XXXXXXXX XXXX This is an excessive and inconsistent reporting of a charge-off, especially after the closure date. 
XXXX An account can not continue to accrue charge-off status once it is closed, and this extended reporting violates the Fair Credit Reporting Act ( FCRA ) by artificially inflating the negative impact on my credit report. 
2. Misreported Past Due Balance : o The balance of {$430.00} is reported as past due from XX/XX/XXXXXXXX XXXX XXXX XXXX XXXX, even though the account was closed in XX/XX/XXXXXXXX XXXX  and charged off in XX/XX/XXXX. The past due balance should not be reported beyond the charge-off date, as no further activity occurred after the account was closed. 
XXXX The charge-off amount is {$460.00}, but the current balance is reported as {$430.00}, creating inconsistency in the amounts reported. The discrepancy in balance reporting raises doubts about the accuracy of the information being furnished to Equifax. 
3. Credit Limit and High Balance Mismatch : XXXX The credit limit is {$200.00}, but the account shows a high balance of {$460.00}, which far exceeds the available credit. This is highly unusual and reflects either improper account handling or an error in reporting. 
XXXX  The mismatch between the credit limit and the high balance is a violation of the FCRAs requirement for creditors to report accurate information. 
4. Conflicting Dates of Delinquency : XXXX The date of first delinquency is reported as XX/XX/XXXX, but delinquency began earlier. Additionally, the account was closed in XX/XX/XXXX, making it impossible for new delinquencies to accrue after the closure. This indicates an inaccurate reporting timeline. 
XXXX The date of first delinquency is critical for determining when the accounts negative information can be removed from my credit report, and inaccurate reporting prolongs the negative impact beyond the legally allowed timeframe. 
5. Payment History Inconsistencies : o Account was opened in XX/XX/XXXX, yet no payment is reflected even though payments were made. 
XXXX The report shows {$25.00} actual payment in XX/XX/XXXX, yet the account continues to report a charge-off and past due balance. This discrepancy between the payment activity and charge-off status indicates errors in the reporting process. 
FCRA Violations : 15 U.S.C. 1681e ( b ) : Requires credit reporting agencies to ensure that the information reported is accurate and complete. The numerous discrepancies, including charge-off dates, past due amounts, and credit limit inconsistencies, violate this provision. 
15 U.S.C. 1681c : Limits the reporting of negative information, such as charge-offs, to seven years. Reporting ongoing charge-offs after the account was closed extends the negative impact beyond the allowed timeframe.

15 U.S.C. 1681s-2 ( b ) : Requires data furnishers to conduct a reasonable investigation when notified of a dispute. The creditors repeated failure to correct these errors demonstrates that a reasonable investigation has not been conducted.

Action Requested : I am formally requesting that this account be removed from my credit report due to the ongoing inaccuracies and the failure to correct them after multiple investigations. This is my third dispute, and the continued reporting of inaccurate information is unfair and harmful to my credit profile. 

Please conduct a thorough investigation and provide written confirmation that this account has been deleted. I expect this issue to be resolved within 30 days as required by law. If this request is not addressed promptly, I will consider further legal actions under the FCRA. 

Thank you for your immediate attention to this matter. I look forward to receiving confirmation that this account has been removed from my credit report. 
________________________________________ Enclosures : XXXXopy of credit report with highlighted inaccuracies Correspondence from XXXX XXXX when I requested account be accurate.