Consumer complaint received 2024-07-29
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: EQUIFAX, INC. (FL)

RE : Incorrect information on consumer credit report I am writing to dispute multiple inaccurate entries on my credit report. I have recently obtained a copy of my credit report and have noticed the following inaccurate accounts, which are negatively affecting my credit rating and causing me unnecessary financial strain : XXXX XXXX XXXX  XXXX XXXX ( XXXX XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX According to the Fair Credit Reporting Act ( FCRA ), creditors and furnishers of information are required to report accurate and non-misleading information. It has come to my attention that the above creditors have been reporting the same charge-off as a new event multiple times, which is inaccurate and potentially misleading. 

Relevant Sections of the FCRA : 15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies ( a ) Duty of furnishers of information to provide accurate information Prohibition A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.

Duty to correct and update information A person who regularly and in the ordinary course of business furnishes information to one or more consumer reporting agencies about the persons transactions or experiences with any consumer shall : ( A ) promptly notify the consumer reporting agency of any corrections to that information, and ( B ) provide any additional information that is necessary to make the information provided by the person complete and accurate.

15 U.S. Code 1681i - Procedure in case of disputed accuracy ( a ) Reinvestigations of disputed information Reinvestigation Required If the completeness or accuracy of any item of information contained in a consumers file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly, or indirectly through a reseller, of such dispute, the agency shall, free of charge, conduct a reasonable reinvestigation to determine whether the disputed information is inaccurate and record the current status of the disputed information, or delete the item from the file in accordance with paragraph ( 5 ), before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer or reseller.

15 U.S. Code 1681i - Procedure in case of disputed accuracy ( a ) ( 5 ) ( A ) Treatment of inaccurate or unverifiable information If, after any reinvestigation under paragraph ( 1 ) of any information disputed by a consumer, an item of the information is found to be inaccurate or incomplete or can not be verified, the consumer reporting agency shall ( i ) promptly delete that item of information from the file of the consumer, or modify that item of information, as appropriate, based on the results of the reinvestigation; and ( ii ) promptly notify the furnisher of that information that the information has been modified or deleted from the file of the consumer.

The charge-off for these accounts was initially reported on [ Date of First Charge-Off for each account ]. However, my credit report indicates multiple entries for each charge-off, as if they were new events each month. This repeated reporting is incorrect and negatively impacts my credit score.

If the information can not be validated and reported with maximum accuracy within 30 days, the negative items must be removed from my report as per the FCRA.

I request that the credit bureau investigate this matter and correct the information by ensuring the charge-offs are reported accurately, reflecting only the original charge-off date. Please remove any duplicate entries to reflect the accurate status of these accounts.

Thank you for your prompt attention to this matter. Please notify me in writing of the results of your investigation.