Consumer complaint received 2024-09-26
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: TRANSUNION INTERMEDIATE HOLDINGS, INC. (NJ)

Subject : Formal Complaint Regarding Credit Report Violations and Repossession Procedures for Account # XXXX Dear CFPB Representative, I am writing to formally submit a complaint regarding inaccurate reporting of a repossession on my credit report, in violation of the Fair Credit Reporting Act ( FCRA ) and the Uniform Commercial Code ( UCC ). Below are the details of the violations, supported by recent legal actions taken against XXXX XXXX XXXX ( XXXX  ) : Inaccurate Reporting Post-Repossession : My credit report from [ XXXX XXXX XXXX ] inaccurately shows a repossession on my auto loan account, listed under Account # XXXX, with an original balance of {$20000.00}. According to the FCRA and case law such as XXXX XXXX Trans Union XXXX, XXXX XXXX XXXX ( XXXX XXXX. XXXX ), credit reporting agencies are required to ensure that the information they report is accurate. My credit report should reflect the accurate balance remaining after the sale of the repossessed vehicle. The current balance has not been adjusted accordingly, which is a violation of this requirement. 

Failure to Properly Address My Dispute : I submitted a dispute regarding the inaccurate reporting of this account on [ Date ]. Despite the dispute, the information on my credit report has not been corrected, in violation of Section 623 of the FCRA. Additionally, the case XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX XXXX. XXXX ), supports the argument that credit reporting agencies are liable when they fail to conduct reasonable investigations into disputed accounts. No investigation results have been shared with me, and the inaccuracies remain, making this a clear violation of the FCRA.

UCC Compliance Violations : According to UCC 9-611 and 9-614, I should have received a notice of repossession and an explanation regarding the sale of my vehicle, including any remaining balance. The case XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, addresses the importance of proper notification under XXXX guidelines. I did not receive any such notice or communication, which is a violation of the UCC and related case law.

Failure to Update Payment Status : The account is still reported with derogatory status, and the creditor has failed to update the account with the correct balance post-repossession sale, in violation of the FCRA 's requirement for accurate and timely reporting. This also violates the precedent set in XXXX XXXX Trans Union XXXX, as credit reporting agencies and creditors must ensure that the information reported is continuously accurate. 

Support from Recent Legal Actions Against XXXX XXXX XXXX ( XXXX  ) : In XX/XX/XXXX, the Consumer Financial Protection Bureau ( CFPB ) and the XXXX XXXX Attorney General ( XXXX ) filed a lawsuit against XXXX, accusing the company of predatory lending practices and deceptive acts that led many consumers to repossession and financial distress. The lawsuit specifically highlights that XXXX  knowingly issued loans with high interest rates, concealed the true cost of the loans, and set up borrowers to fail by providing loans they could not afford to repay. As a result, many consumers faced repossessions, lawsuits, and aggressive debt collection tactics ( Consumer Financial Protection Bureau ) ( Consumer Financial Protection Bureau ) ( XXXX XXXX XXXX XXXX ). 

This lawsuit demonstrates a clear pattern of unfair and deceptive practices by CAC, which mirrors the issues I am facing with my repossession and the inaccurate reporting on my credit file. The CFPB and XXXX 's ongoing case against XXXX supports my claim that CACs practices are predatory, unfair, and deceptive, and that their reporting of my repossession is likely part of these same violations. 

Requested Action : I request that the CFPB investigate these violations and instruct the credit reporting agencies and the creditor to : Update the balance on my credit report to accurately reflect the post-sale amount for Account # XXXX. 
Remove any inaccurate derogatory status. 
Ensure XXXX compliance regarding notifications and documentation of repossession. 
I look forward to your assistance in resolving this matter. Please contact me at [ Your Contact Information ] if any additional information is needed. 

Thank you for your attention to this matter.