Consumer complaint received 2024-07-24
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Credit inquiries on your report that you don't recognize
Company: Experian Information Solutions Inc. (TX)

I am writing to file a formal complaint against the credit reporting agencies for their persistent failure to remove inaccurate and false information from my credit report, despite my numerous attempts to rectify these issues in accordance with the Fair Credit Reporting Act ( FCRA ) and applicable Texas consumer laws. My name is XXXX XXXX XXXX and I have been disputing these inaccuracies since XXXX XXXX XXXX with no resolution or deletion of the inaccurate hard inquiries that have severely impacted my financial situation. 

I am a victim of identity theft, as verified by the police report I submitted to the credit bureaus along with proof of my identity and address. Despite providing all necessary documentation, the credit bureaus have failed to remove the inaccurate information from my credit report. Instead, they have requested the same information repeatedly and claimed to have verified the accuracy of the disputed entries without providing any proof or verification from creditors. 

The continued presence of false information on my credit report has hindered my ability to access equity loans for my business, thereby damaging my financial worthiness and impeding my ability to obtain the necessary funds to support my growing business and family. This has caused significant financial harm and emotional distress. 

Fair Credit Reporting Act ( FCRA ) : Section 1681i ( a ) ( 1 ) ( A ) - Reinvestigations of Disputed Information : The credit bureaus are required to conduct a reasonable reinvestigation to determine whether the disputed information is inaccurate and record the current status of the disputed information or delete it within 30 days of receiving the dispute.

Section 1681i ( a ) ( 2 ) ( A ) - Prompt Notice of Dispute to Furnisher of Information : The credit bureaus must promptly notify the furnisher of the information about the dispute within five business days from the date of the dispute.

Section 1681i ( a ) ( 4 ) - Consideration of All Relevant Information : The credit bureaus must consider all relevant information submitted by the consumer during the reinvestigation.

Section 1681i ( a ) ( 6 ) ( B ) ( iii ) - Notice of Results of Reinvestigation : The credit bureaus must provide the consumer with a written notice of the results of the reinvestigation, including a notice that the consumer has the right to add a statement to the consumer 's file disputing the accuracy or completeness of the information.

Section 1681e ( b ) - Accuracy of Reports : The credit bureaus must follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates.

Texas Consumer Credit Reporting Act : Section 20.06 ( a ) - Correction of Inaccurate Information : A consumer reporting agency shall promptly correct any inaccurate information it discovers in a consumer file.

Section 20.06 ( b ) - Notification to Furnisher of Information : A consumer reporting agency shall notify the furnisher of information identified by the consumer as disputed within five business days of receiving the dispute.

Section 20.07 - Notification of Results of Reinvestigation : The consumer reporting agency must provide the consumer with a statement that the reinvestigation is completed and a copy of the revised consumer report, if requested, within five business days of completion.

Specific Violations : Failure to Conduct a Reasonable Investigation : The credit bureaus have failed to perform a reasonable investigation of my disputes and have not removed the inaccurate information from my credit report, violating FCRA Section 1681i ( a ) ( 1 ) ( A ) and Texas Consumer Credit Reporting Act Section 20.06 ( a ).

Failure to Provide Verification : The credit bureaus have claimed that the information was verified as accurate but failed to provide any documentation or proof of such verification from the creditors, violating FCRA Sections 1681i ( a ) ( 6 ) ( B ) ( iii ) and 1681e ( b ).

Repeated Requests for Information : Despite providing all necessary documentation, the credit bureaus repeatedly requested the same information, thereby delaying the resolution of my disputes, violating FCRA Section 1681i ( a ) ( 4 ) and Texas Consumer Credit Reporting Act Section 20.06 ( b ).

Due to the inaccuracies on my credit report, I have been unable to secure equity loans essential for my business operations, resulting in financial loss and hindrance to my business growth. The emotional distress caused by this prolonged issue has also been significant. 

I urge the Consumer Financial Protection Bureau to take immediate action to ensure that the credit bureaus correct the inaccuracies on my credit report and provide appropriate compensation for the harm caused. I have attached copies of all relevant documents, including the police report, proof of identity, proof of address, and correspondence with the credit bureaus, for your review. 

Thank you for your attention to this serious matter. I look forward to your prompt response and resolution of this issue. 

Sincerely, XXXX XXXX XXXX