Consumer complaint received 2024-09-06
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 emphasize the critical importance of accurate credit reporting and the harmful effects when errors remain unresolved. I am formally disputing several significant inaccuracies and errors related to the alleged account receivable ending in # XXXX with XXXX XXXX, as reflected on my credit report dated XX/XX/XXXX. These discrepancies have negatively impacted my credit score and overall financial health, raising serious concerns about compliance with the Fair Credit Reporting Act ( FCRA ) and the Fair Credit Billing Act ( FCBA ). 

Key Issues : Discrepancy in Creditor Name : The creditors name is inaccurately listed as " XXXX XXXX, '' which may not match the legally recognized name of the entity. There is no clear identification of the correct legal name throughout the billing and reporting process. This discrepancy raises concerns about whether the entity is properly identified on my credit report, potentially leading to significant inaccuracies and possible FCRA violations. 

Missing Balance and Payment Information : My credit report reflects a balance of {$2300.00}, but there is no detailed information about how this balance was calculated or what payment history led to the final amount. This incomplete reporting violates the FCRAs requirement for accurate and complete information to consumers. 

Incomplete Terms Duration : The terms duration is listed as NA, offering no clarification on the length or structure of the accounts terms. This vague reporting makes it difficult to understand the terms of the alleged account and violates the FCRAs mandate for clear and accurate reporting of credit information. 

Inaccuracies in High-Balance Reporting : The high balance is reported as {$2300.00}, which does not align with the original charge-off amount of {$2200.00}. There is no explanation for this discrepancy, nor is there clarity on how this balance was reached. This lack of transparency constitutes a violation of the FCRA and compromises my ability to verify and manage my financial records effectively. 

Inconsistent Reporting Dates : The account is reported as " Charge Off, '' yet the associated datesincluding the Date Opened ( XX/XX/XXXX ), Date Closed ( XX/XX/XXXX ), Last Payment Date ( XX/XX/XXXX ), and Date Last Reported ( XX/XX/XXXX ) are inconsistent. These discrepancies create confusion regarding the status of the account, and the Date Last Reported suggests ongoing activity despite the account being marked as closed. This violates the FCRAs requirements for consistency and accuracy in credit reporting. 

Lack of Transparency Regarding Account Ownership : There is no clear information on whether the debt has been transferred to another lender or remains with XXXX XXXX This lack of transparency regarding account ownership violates 15 US Code 1681g ( a ) ( 2 ), which requires CRAs to disclose the full identity of any entity furnishing data. Immediate action is needed to address this lack of transparency to ensure compliance with federal law. 

Delays in Resolving the Dispute : Despite initiating this dispute over 30 days ago, the Credit Reporting Agencies ( CRAs ) have failed to resolve the issues. Under the FCRA, CRAs are required to conduct a timely and thorough reinvestigation of disputed information, typically within 30 days. The failure to address these errors in a timely manner may constitute a violation of federal law.