Consumer complaint received 2024-10-09
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: Experian Information Solutions Inc. (FL)

I am filing a formal complaint against XXXX XXXX regarding their inaccurate and non-compliant reporting practices on my Experian credit report. The account, formerly known as XXXX XXXX XXXX XXXX ( Account XXXX  XXXX ), contains multiple discrepancies and inaccuracies, which XXXX has failed to address or correct despite previous requests. Key issues with this account include : - Incorrect Account Status : XXXX has erroneously reported this account as a 'Collection or XXXX ' when the account was legally settled and closed with a XXXX balance. The Creditor Remarks inaccurately state 'XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, ' which is not only misleading but also misrepresented under the Fair Credit Reporting Act ( FCRA ). This incorrect status fails to reflect the true status of a settled account. 

- Unverified Loan Type and Description : The Loan Type is reported as a 'XXXX, ' which does not comply with XXXX XXXX standards. XXXX inaccurately labels this account under an Individual Account Description, when it was actually part of a financing agreement. The lack of accurate classification questions XXXX adherence to the XXXX XXXX XXXX XXXX ( XXXX ) guidelines and XXXX XXXX requirements. 

- Non-Compliance with XXXX XXXX Standards : Federal and XXXX XXXX guidelines mandate specific data fields and correct values for accurate reporting, yet XXXX report deviates from these standards. For instance : - Term Length ( XXXX   months ), which does not correlate with the actual term of the agreement and misrepresents the length and nature of the original contract. 

- Date of Last Activity ( XXXX ) and Date Reported ( XXXX ), both of which are inconsistent with the accounts actual status, implying ongoing delinquency when the account was closed and settled. 

- Failure to Provide Verification Documents : XXXX has not provided verifiable proof that this information is correct, failing to comply with FCRA requirements per 15 U.S.C. 1681e, which requires credit reporting agencies and furnishers to follow 'reasonable procedures to assure maximum possible accuracy. ' Despite my formal requests, XXXX has not furnished any documents proving the accuracy, compliance, or lawful purpose of this reporting. 

Relevant Legal Violations : This report lacks adherence to key consumer protection standards : - FCRA Violations : XXXX is obligated to report accurate data under 15 U.S.C. 1681e and 12 CFR Part 1022. FCRA requires accurate, verified reporting to prevent misleading and harmful information from appearing on credit reports. XXXX report of this account shows a disregard for these standards, including failure to provide accurate, timely, and verifiable data. 

- XXXX XXXX Non-Compliance : The XXXX stipulates, 'Any Deviation from These Standards Jeopardizes the Integrity of the Data. ' Inconsistent and inaccurate data fields, such as the term length, loan type, and account description, demonstrate XXXX non-compliance with these essential standards.