Consumer complaint received 2024-05-04
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc. (CA)

Dear Sir or Madam, I am writing to file a formal complaint against the credit reporting agencies ( CRAs ) Experian and XXXX for their continued reporting of inaccurate student loan data related to my account with XXXX XXXX XXXX XXXX Notably, XXXX has already updated and removed this information from my credit profile after recognizing the inaccuracies. 

My complaint centers on the failure of XXXX to provide a complete and original contract for my student loan, specifically a full copy of the XXXX Promissory Note ( XXXX ) which should include all XXXX pages, not just the signature page. This incomplete documentation calls into question the accuracy of the balance and other loan details reported by XXXX to Experian and XXXX. 

Under the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq., credit reporting agencies and the furnishers of credit information are required to report only accurate and complete information. Since Nelnet has failed to provide the original full loan contract, they lack the basis to verify the reported debt 's accuracy. Thus, any reporting of this loan 's details by Experian and XXXX is potentially a violation of the FCRA. 

Additionally, the Uniform Commercial Code ( UCC ), which governs negotiable instruments and transactions, stipulates that a promissory note must be complete and unambiguous to enforce payment. The provision of only a partial document ( the last page of the MPN ) by XXXX fails to meet this standard. 

Requested Action : I hereby request that he CFPB implore Experian and XXXX to immediately remove the inaccurate reporting of this XXXX student loan from my credit reports. This action is justified by the following legal and regulatory standards : Fair Credit Reporting Act ( FCRA ) : Requires the accuracy and completeness of information in consumer credit reports. 
Uniform Commercial Code ( UCC ) : Requires a complete instrument to enforce debt obligations. 

Supporting Case Law : In Johnson v. MBNA America Bank, NA ( 2007 ), the court held that furnishing inaccurate or incomplete credit information violates the FCRA.

In Smith v. Equifax Information Services LLC ( 2010 ), it was ruled that a CRA could be liable for not properly investigating disputed debts.

As NOTICE I am prepared to take further legal action, including arbitration or litigation, should Experian and XXXX fail to resolve this matter promptly by removing the disputed account information, as XXXX has already done, which again emphasis XXXX XXXX of how can you both be be correct and assure maximum accuracy of the info? 

15 U.S.C. 1681e ( b ), specified that : Accuracy and Fairness of Credit Reporting : The agency must follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates. 

Please treat this matter with urgency and thoroughness it demands. I expect a written confirmation of the removal of this information within 30 days of your receipt of this complaint. 

Thank you for your attention to this serious matter. 

Sincerely,