Consumer complaint received 2022-06-09
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 — Their investigation did not fix an error on your report
Company: EdFinancial Services (MO)

I had XXXX student loans with EdFinancial Servicer ( XXXX for $ XXXX and XXXX for $ XXXX ), but in XX/XX/XXXX I applied for XXXX and my XXXX student loans were transferred to XXXX XXXX XXXX. XXXX  XXXX XXXX is reporting that I owe them $ XXXX on my credit report. I pulled my credit reports and realized that both XXXX XXXX XXXX and EdFinancial Servicer are both reporting that I owe them a balance, showing on my credit report that I owe $ XXXX in student loan debt and not the true $ XXXX. 

EdFinancial Services, did stop " reporting '' ( or stopped updating ) to all three credit bureaus in XX/XX/XXXX BUT they are still reporting a balance ( XXXX loan at $ XXXX and XXXX loan at $ XXXX ) despite not owing them a balance. I owe Fed XXXX XXXX. This makes me look like I owe $ XXXX in student loan debt and I do not. This is against the FCRA because it is inaccurate information and it has hurt my ability to get a home improvement loan because it messes up my debt to income ratio. 

I disputed this inaccuracies with all three credit bureaus. Right away, XXXX and XXXX updated my credit report to show that I don't owe a balance to EdFinancial Services and only owe a balance to XXXX XXXX. I have disputed with XXXX four times in the past 4-5 months. And every time they come back and state that I do owe a balance to EdFinancial Servicers ( which I do not- I owe a balance to XXXX XXXX  ). I have attached my statement from Ed Financial Servicers that I don't owe them a balance. And that hasn't solved the problem. Today ( XX/XX/XXXX ) I called XXXX again ( for the the third time ) and they told me that it was not their problem but it was Ed Financials Services problem. I talked to EdFinancial Services and they told me it was XXXX 's problem. 

I talked to XXXX and told them it had to be a problem on their end because XXXX and XXXX updated to show the correct information - meaning that EdFinancial showed I didn't owe a balance. The rep from XXXX told me that XXXX and XXXX are more consumer friendly companies and will take information from the consumer and if accurate update directly, but XXXX is not like that and only takes information from the creditor. 

EdFinancial Services told me that they were correct in the way they were reporting because their " stopped '' reporting ( or stopped updating the information ) on my credit report in XX/XX/XXXX. I told them that this was inaccurate because even though they stopped updating the information, it is still showing I owe a balance, which I do not. I'm at a loss of what I can do. I have spent the last 4-5 months trying to get this fixed and I'm just going around and around in circles. I think this shows how much control the credit bureaus and the creditors have around a consumers file, I can show all of the information proving my point, but XXXX still doesn't go back to EdFinancial and say - " you are reporting inaccurate and you have to update your files ''. They just take the information that was sent by the creditors, even though it is blantantly inaccurate. HTe NY Attorney General 's settlement of XXXX was suppose to fix this, that if a consumer can show that the information is inaccurate, the bureau needs to do more digging vs. just sending in a code. But this is obviously not happening and I would put it that XXXX is not following this NY Attorney General ruling. This is what is wrong with this process.