Consumer complaint received 2023-08-25
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: EQUIFAX, INC. (CA)

I am writing to formally file a complaint against XXXX XXXX. I recently became aware of serious allegations against XXXX regarding their student loan servicing practices. These allegations have been detailed in various reports and lawsuits, including those filed by the Consumer Financial Protection Bureau ( CFPB ), the attorneys general of Illinois and Washington state, and other entities. 

I believe that my own experiences with XXXX align with some of these allegations, particularly in relation to loan payments and difficulties in accessing lower repayment options. 

Specifically, I have identified 16 late payments on my credit report for four loans that were previously serviced by XXXX and are now under XXXX 's management. I have been in communication with XXXX  regarding these late payments since XX/XX/XXXX, and while they have been responsive, I remain dissatisfied with the explanations provided. 

Here is a timeline of events for your reference : On or around XX/XX/XXXX, I reviewed my credit report, as I do periodically, and noticed a total of 16 late payments being reported from four different student loans serviced by XXXX on all three credit bureaus. These late payments were reported from XX/XX/XXXX to XX/XX/XXXX. I was unaware of these late payments, prompting me to contact XXXX  via email on XX/XX/XXXX [ see attachment 1 and 2 ]. 

On XX/XX/XXXX, XXXX responded to my email with a request to dispute all credit reporting issues with their Credit Bureau Management Team in writing [ see attachment 3 ]. 

On the same day, XX/XX/XXXX, I wrote a letter to XXXX 's Credit Bureau Management Team and sent it via regular mail. In this letter, I requested information about the late payments, with a particular emphasis on the forbearance status I had placed on these loans during the relevant time period [ see attachment XXXX ]. 

On XX/XX/XXXX, XXXX sent a letter to me confirming that they had initiated an investigation into the matter [ see attachment XXXX ]. 

On XX/XX/XXXX, XXXX communicated that they were still actively researching the issue [ see attachment XXXX ]. 

On XX/XX/XXXX, XXXX provided additional information regarding my loan 's past due status. This included details about when my loans first fell past due ( XX/XX/XXXX ) and when they were subsequently made current via Administrative Forbearance in XX/XX/XXXX. Additionally, XXXX included copies of 20 letters from XXXX to me during that specific time frame. These letters consisted of statements of my account, notices of past-due status, and other essential correspondence. [ see attachment 7 ] On XX/XX/XXXX, I composed a letter to XXXX  in which I explained that I had placed my loans on forbearance through the XXXX website before my loans became delinquent. According to my records, this occurred around XX/XX/XXXX. I also clarified that I had not received any of the letters sent by XXXX during that period, as none of them were delivered to my correct address. I attached proof of my change of address to the letter. Additionally, I informed XXXX that my identity had been stolen during this time period, resulting in missed letters and phone calls from creditors. [ see attachment XXXX ] On XX/XX/XXXX, I received a letter from XXXX stating that they had concluded their investigation and determined that the reporting was accurate. They indicated that none of the late payments would be deleted. [ see attachment XXXX ] Furthermore, upon reading about the allegations against XXXX, I realized that I lacked a clear understanding of the differences between forbearance, income-driven repayment, and deferment options. Had I been properly informed by XXXX, I would have made a more informed choice to prevent interest from accruing and potentially doubling my original principal loan amount.