Consumer complaint received 2024-01-04
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Experian Information Solutions Inc. (GA)

Subject : Formal Complaint - Urgent Remedy Request for Updating Student Loan Status to " Paid in Full '' and Addressing Reporting Inaccuracies- Legal Support References Dear [ Credit Bureau Name ], I am writing to file an urgent formal complaint regarding persisting inaccuracies in the reporting of my student loans on my credit report. The inclusion of these loans from XXXX, XXXX, and the XXXX XXXX XXXX is appreciated, but the current status and associated reporting inaccuracies significantly impact my credit profile and financial standing. 

15 USC 6801-6805 - Right to Financial Privacy Act ( RFPA ) : The RFPA safeguards the privacy of consumer financial records held by financial institutions. The inaccurate reporting of transaction history and failure to update the status of my student loans as " Paid in Full '' violate the RFPA and have immediate adverse effects on my creditworthiness.

15 USC 1681 - Fair Credit Reporting Act ( FCRA ) : The FCRA governs credit reporting agencies and creditors, emphasizing the accuracy and fairness of information provided to consumers. The misrepresentation of my student loan status and payment history constitutes a clear violation of the FCRA, impacting my ability to secure favorable credit terms. 

15 USC 1602 - Truth in Savings Act ( TISA ) : TISA ensures transparent disclosure of terms and conditions of deposit accounts. Although not directly related to student loans, the principles of accurate disclosure and reporting in financial matters apply universally.

12 CFR 1026.3 - Truth in Savings Act ( TISA ) : This regulation further reinforces the need for clear and accurate disclosure of terms and conditions in credit transactions, providing additional support for my complaint.

16 CFR Part 313 - Privacy of Consumer Financial Information : These regulations supplement the FCRA and outline privacy requirements for financial institutions. The inaccurate reporting of financial information, including student loan transactions, directly violates these regulations, compromising my financial privacy. 

16 CFR 433.1 and 433.2 - Preservation of Consumer Claims and Defenses : As the holder of a copy of the contract, I assert my rights under these regulations, demanding accurate reporting that reflects my true financial standing.

16 CFR 433.3 - Preservation of Consumer Claims and Defenses ; Open-End Credit : This section underscores the importance of preserving consumer claims and defenses in open-end credit transactions. The misreporting of my student loans negatively impacts my credit history and financial stability.

Title 12 of the United States Code ( USC ) : Title 12, governing banking and financial matters, underscores the significance of accurate reporting and disclosure in financial transactions. The current reporting inaccuracies undermine the integrity of the financial system. 

Open-End Credit - Definition : The misrepresentation of my student loans, which fall under the open-end credit category, has immediate consequences on my creditworthiness ( see 15 USC 1602 ( j ) ). Accurate reporting is crucial to maintaining the integrity of my credit profile. 

Language Fraud Shall Not Be Committed Code : Any acts of language fraud, such as misrepresenting the terms of credit agreements, violate general principles of fairness and honesty in credit transactions. The misreporting of my student loans constitutes a breach of this code. 

The urgency of this matter is heightened by the fact that XXXX XXXX 's directives mandate the refunding of any forgiven student loan amounts to the student. The reporting inaccuracies hinder my ability to benefit fully from this relief, as the loans should be accurately reflected as " Paid in Full. '' I am requesting an immediate remedy to update the status of my student loans from XXXX, XXXX, and the XXXX XXXX XXXX to " Paid in Full '' and address the associated reporting inaccuracies. The impact of these violations on my creditworthiness and financial standing necessitates a prompt resolution. Additionally, as per applicable laws, I am entitled to compensation for any and all violations. 

Your immediate attention to this matter is crucial, and I expect a timely resolution within the stipulated time frame mandated by the FCRA