Consumer complaint received 2023-04-07
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem — Investigation took more than 30 days
Company: Experian Information Solutions Inc. (FL)

Hello, I am writing to dispute the accuracy of information on my credit report. Specifically, I am disputing the information related to XXXX ( Original Creditor : XXXX XXXX XXXX XXXX XXXX ) XXXX This account is showing as open, but it is a collection account. The creditor never sent me any paperwork notifying me that my account had been sold to a collection agency. Furthermore, according to XXXX, the payment status is unpaid, but XXXX did not report it. XXXX also did not report the last reported date, while XXXX showed it as XX/XX/2022. 

I believe that the creditor and/or debt collector has violated several laws, including the Fair Credit Reporting Act ( FCRA ), the Fair Debt Collection Practices Act ( FDCPA ), the Truth in Lending Act ( TILA ), and the Fair and Accurate Credit Transactions Act ( FACTA ). Specifically, the following sections may have been violated : FCRA : Section 609 ( a ) ( 1 ) : The debt collector failed to notify me in writing within five days of their initial communication that the debt had been transferred to them. 
Section 623 ( a ) ( 2 ) : The creditor or debt collector reported inaccurate information to credit reporting agencies.

FDCPA : Section 809 ( a ) : The debt collector did not send me a written notice within five days of their initial communication, informing me that I have 30 days to dispute the debt.

TILA : Section 102 ( a ) : The creditor failed to provide me with written disclosures before I became obligated on the credit transaction, including the finance charge and annual percentage rate ( APR ).

Section 106 : The creditor failed to disclose certain information when my account was sold or transferred, including the identity of the new creditor.

FACTA : Section 312 ( a ) : The creditor and/or credit reporting agencies failed to establish reasonable procedures to ensure the accuracy of credit reports.

Section 312 ( b ) : The creditor failed to notify credit reporting agencies of any inaccurate or incomplete information and provide corrected information. 

XXXX  XXXX XXXX XXXX on my credit report. I have noticed several discrepancies between the information being reported by XXXX and Experian, and I believe that XXXX  XXXX XXXX has violated several provisions of the Fair Credit Reporting Act ( FCRA ), the Fair and Accurate Credit Transactions Act ( FACTA ), and the Truth in Lending Act ( TILA ). 

Firstly, according to XXXX, the account in question is being reported as a revolving account, while Experian is reporting it as a credit card. This inconsistency is causing confusion and may be negatively impacting my credit score. Additionally, XXXX is reporting a monthly payment balance of {$0.00}, while Experian has not reported anything. Moreover, while XXXX is reporting a balance of {$0.00}, Experian has not reported any information regarding the account. Lastly, XXXX has reported a high credit balance of {$52000.00}, while Experian has not reported anything. 

Furthermore, XXXX XXXX XXXXXXXX has failed to notify the credit reporting agencies that the account has been closed by the consumer, which is a violation of Section 623 ( a ) ( 5 ) of the FCRA. Additionally, they have violated Section 623 ( a ) ( 2 ) of the FCRA by reporting inaccurate information to the credit reporting agencies. 

XXXX  XXXX XXXX, account number XXXX, all three bureaus are indicating that the payment status is charge off, however, I never received any notification from the creditor regarding this charge off account, and they have never provided any paperwork with me. This is a clear violation of Section 623 ( a ) ( 2 ) of the Fair Credit Reporting Act ( FCRA ), which requires a creditor to report accurate information to credit reporting agencies. 

Secondly, XXXX and XXXX are reporting the balance as {$0.00}, but Experian did not report anything. Also, XXXX and XXXX are reporting the high credit balance as {$21000.00}, but Experian did not report anything. This inconsistency violates Section 312 ( a ) of the Fair and Accurate Credit Transactions Act ( FACTA ), which requires creditors and credit reporting agencies to establish reasonable procedures to ensure the accuracy of credit reports. 

Lastly, there is an inconsistency in the last reported date between XXXX and XXXX, where XXXX and Experian reported the last reported date as XX/XX/2022 but XXXX showed XX/XX/2022. This inconsistency violates Section 623 ( a ) ( 5 ) of the FCRA, which requires furnishers to notify credit reporting agencies when an account is closed by the consumer. 

XXXX  XXXX XXXX XXXX has reported to the credit reporting agencies regarding my account with them. I believe that XXXX  XXXX XXXX has violated the Fair Credit Reporting Act ( FCRA ) and the Truth in Lending Act ( TILA ). 

Firstly, XXXX XXXX XXXX reported inaccurate information regarding the payment status of my account to XXXX. Specifically, XXXX mentioned that the payment status is charge-off, but I never received any notification from XXXX XXXX XXXXXXXX XXXX this charge-off account, nor did they provide any paperwork to support this claim. This could be a violation of Section 623 ( a ) ( 2 ) of the FCRA, which requires a furnisher of information to report accurate information to credit reporting agencies. 

SecondlyXXXX XXXX XXXXXXXX XXXX failed to report the account as closed to XXXX, which could be a violation of Section 623 ( a ) ( 5 ) of the FCRA, which requires furnishers to notify credit reporting agencies when an account is closed by the consumer. 

Lastly, XXXX XXXX XXXX did not provide me with the required written disclosures before I became obligated on the credit transaction, including the finance charge and annual percentage rate ( APR ). This could be a violation of Section 102 ( a ) of the TILA. 

XXXX XXXX XXXX XXXX, account number XXXX. As a result of these violations, my credit report has been negatively impacted, causing significant hardship in my life. 

According to Section 623 ( a ) ( 2 ) of the FCRA, creditors are required to notify the consumer in writing of the delinquency and charge-off status of an account within 30 days of reporting to a credit bureau XXXX However, I never received any written notification from XXXX XXXX XXXX XXXX regarding the charge-off status of my account. Additionally, Section 623 ( a ) ( 5 ) of the FCRA requires creditors to provide consumers with a copy of any documentation that verifies the debt if requested within 60 days of receiving notice of the debt. Despite my request, XXXX XXXX XXXX XXXX failed to provide me with any documentation regarding the charge-off account. 

Moreover, under Section 312 ( a ) ( 1 ) of FACTA, consumer reporting agencies are required to follow reasonable procedures to assure maximum possible accuracy of the information in consumer credit reports. However, the credit reporting agencies are reporting inconsistent information across my credit reports. For instance, XXXX is showing a monthly payment of {$0.00}, while the other two bureaus do not show any payment status. Similarly, XXXX and Experian are showing a high credit balance of {$41000.00}, but XXXX has not reported it. 

The above violations have caused significant hardship in my life. The inaccurate information has affected my ability to secure financing for a new home, and I have been declined for several credit applications. This has led to significant stress and frustration as I work hard to improve my financial situation. 

Therefore, I request that XXXX XXXX XXXX XXXX removes the unverified accounts from my credit report. I urge the CFPB to enforce the legal requirements outlined in Section 623 ( a ) ( 2 ), Section 623 ( a ) ( 5 ) of the FCRA, and Section 312 ( a ) ( 1 ), Section 312 ( a ) ( 2 ), and Section 312 ( b ) of FACTA to prevent further harm to my credit score and financial well-being. 

Thank you for your attention to this matter. 

Sincerely, XXXX XXXX