Consumer complaint received 2024-09-05
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 highlight the critical importance of accurate credit reporting and the damaging consequences when errors are not corrected. I am formally disputing several significant inaccuracies and errors related to the alleged account receivable ending in # XXXX with XXXX, as reflected on my credit report dated XX/XX/year>. These discrepancies have negatively affected my credit score and overall financial standing, raising serious concerns about compliance with the Fair Credit Reporting Act ( FCRA ). 

Key Issues : Discrepancy in Creditor Name : The creditors name is inaccurately listed as XXXX, which may not match the legally recognized name of the entity. Additionally, the creditor/furnisher consistently identifies itself as XXXX XXXX on billing statements, which conflicts with the entitys actual legal name, believed to be XXXX XXXX XXXX XXXX XXXX. This discrepancy raises concerns about whether the entity is properly identified on my credit report, potentially leading to significant reporting inaccuracies and confusion regarding the true creditor. 

Missing Balance and Payment Information : My credit report reflects a {$0.00} balance as of XX/XX/year>, but it lacks any detailed information about the payments leading to this balance. The last payment of {$9800.00} is reported without a clear explanation of how this balance was reached. The absence of this critical information violates the requirement for accurate and complete reporting under the FCRA. 

Incomplete Terms Duration : The Terms Duration is listed as 60 months, but it is unclear whether this number refers to months or another term. This incomplete reporting complicates my understanding of the terms of the alleged account and violates the FCRAs requirement for clear and accurate reporting. 

Inaccuracies in High-Balance Reporting : The high balance is reported as {$10000.00}, which does not align with the last payment of {$9800.00}. No explanation is provided for this discrepancy, raising concerns about the accuracy of the reporting. Accurate balance information is essential to maintaining a clear and fair credit history. 

Inconsistent Reporting Dates : The account is reported as Paid/Closed, but the dates associated with the alleged accountsuch as the Date Opened ( XX/XX/year> ) and Date Closed ( XX/XX/year> ) are inconsistent. Additionally, the Date Last Reported is listed as XX/XX/year>, which does not align with the account closure date. These discrepancies suggest potential errors in how the information was recorded, violating the FCRA 's mandate for accuracy in credit reporting. 

Lack of Transparency Regarding Account Ownership : The status of the alleged account shows Paid/Closed, but there is no clear information regarding whether the debt was transferred to another lender or remains with ONEMAIN. The Date Last Reported as XX/XX/year>, raises questions about the account 's ongoing status. The lack of transparency regarding current ownership of the alleged debt violates the FCRAs requirement to disclose the full identifying information of any entity furnishing data. 

Delays in Resolving the Dispute : Despite initiating the dispute more than 30 days ago, the Credit Reporting Agencies ( CRAs ) have failed to resolve these 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 promptly may constitute a violation of federal law.