Consumer complaint received 2024-09-24
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: EQUIFAX, INC. (GA)

I am reporting an adverse action taken by XXXX XXXX XXXX regarding my credit report. Despite my disputes, they have continued to report inaccurate information, including : Multiple charge-offs for the same debt, which is a violation of the Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681c ( a ) and the Metro 2 guidelines, Section 4.4.

Multiple repossessions ( R ) for the same event, which is a violation of the Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681c ( a ) and the Metro 2 guidelines, Section 4.5.

False or misleading statements about my debt/credit history, which is a violation of 18 USC 894 and the Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681c ( b ). 

Failure to provide notice of sale before selling the vehicle, which is a violation of UCC 9-614 ( VA : 8.9A-614, TX : 9.610 ) .

Failure to apply proceeds from the sale to the borrower 's debt in a commercially reasonable manner, which is a violation of UCC 9-615 ( VA : 8.9A-615, TX : 9.620 ) .

Failure to provide an explanation of the calculation of the deficiency or surplus, which is a violation of UCC 9-616 ( VA : 8.9A-616 ).

Failure to provide a written notice of the amount of the debt, including the amount of the deficiency, within 5 days of the initial communication with the borrower, which is a violation of 15 U.S.C. 1692g. 

False representation of the amount of the debt, including the deficiency, in communication with the credit bureaus, which is a violation of 15 U.S.C. 1692e.

Failure to provide a clear and conspicuous disclosure of the terms of the loan, including the deficiency balance, which is a violation of 12 CFR 1026.41 ( TILA ). 

Discrimination in the credit reporting process, which is a violation of 12 CFR 1002.9 ( ECOA ). 

These actions have caused significant damage to my credit score, making it harder for me to obtain credit, suitable living, and loans. I request that the CFPB take action to : Correct the errors on my credit report, as required by the Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681i. 

Remove the inaccurate information, as required by the Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681c ( a ). 

Provide compensation for damages, as allowed under the Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681s. 

Investigate and take enforcement action against XXXX XXXX XXXX for their violations of the FCRA, 18 USC 894, UCC, FDCPA, TILA, and ECOA.

Supporting documentation : Credit reports showing the inaccurate information.

Dispute letters and responses from the creditor/credit reporting agency .

Other relevant documentation. 

Laws cited : Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681c ( a ), 15 U.S.C. 1681c ( b ), 15 U.S.C. 1681i, and 15 U.S.C. 1681s. 
18 USC 894.

Metro 2 guidelines, Section 4.1, 4.4, 4.5, 4.6, 4.7, and 4.8.

UCC 9-614 ( VA : 8.9A-614, TX : 9.610 ) .

UCC 9-615 ( VA : 8.9A-615, TX : 9.620 ) .

UCC 9-616 ( VA : 8.9A-616 ).

15 U.S.C. 1692g.

15 U.S.C. 1692e.

12 CFR 1026.41 ( TILA ).

12 CFR 1002.9 ( ECOA ).

Specifically, the Metro 2 guidelines state : Section 4.1 : Accuracy of Information - Creditors must report accurate information.

Section 4.4 : Charge-Offs - A charge-off can only be reported once, when the creditor determines the debt is uncollectible.

Section 4.5 : Repossessions - A repossession can only be reported once, when the creditor takes possession of the collateral.

Section 4.6 : Updating Information - Creditors must update information on the credit report to reflect changes in the status of the debt.

Section 4.7 : Deleting Information - Creditors must delete information from the credit report when it is no longer accurate or relevant.

Section 4.8 : Dispute Resolution - Creditors must investigate and resolve disputes in a timely and accurate manner.

Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681c ( a ) : The creditor failed to update the balance on your account to reflect the sale of the vehicle and the application of the proceeds.

Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681c ( b ) : The creditor failed to provide accurate information about the status of your account.

Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681i : The creditor failed to correct the errors on your credit report.

Fair Credit Reporting Act ( FCRA ) - 15 U.S.C. 1681s : The creditor 's actions caused you damages, including harm to your credit score and emotional distress.

Uniform Commercial Code ( UCC ) - 9-614 : The creditor failed to provide notice of sale.

Uniform Commercial Code ( UCC ) - 9-615 : The creditor failed to apply proceeds from the sale to your debt.

Uniform Commercial Code ( UCC ) - 9-616 : The creditor failed to provide an explanation of the calculation of the deficiency or surplus.

Federal Debt Collection Practices Act ( FDCPA ) - 15 U.S.C. 1692g : The creditor failed to provide a written notice of the amount of the debt, including the amount of the deficiency.

Federal Debt Collection Practices Act ( FDCPA ) - 15 U.S.C. 1692e : The creditor made false or misleading representations about the debt.

Truth in Lending Act ( TILA ) - 12 CFR 1026.41 : The creditor failed to provide a clear and conspicuous disclosure of the terms of the loan, including the deficiency balance.