Consumer complaint received 2017-07-28
Product: Credit card or prepaid card — Store credit card
Issue: Incorrect information on your report — Account information incorrect
Company: Bread Financial Holdings, Inc.

Complaint:
I defaulted on my Comenity Bank/Victorias Secret credit card in XX/XX/XXXX. ByXX/XX/XXXX, they started sending statements for settlement on the account. In XX/XX/XXXX, I was able to settle with them, 40 % of the original balance of {$1200.00}. An agreement was made to make 3 installment payments of {$160.00}, submitting a total of {$500.00} to satisfy the settlement agreement. According to Comenity Bank, my third payment was never processed and is considered 'lost '. No further contact was initiated on the behalf of Comenity Bank stating that the settlement agreement was not satisfied. As time went by, I accidentally discovered that they were reporting an incorrect balance as a revolving account, racking up late payments, negatively affecting my credit score. In XX/XX/XXXX, I filed a dispute with the credit bureau, assuming it was an error that never updated. When the dispute was completed and came back verified, I contacted Comenity Bank inXX/XX/XXXX. For the past approximately 5 months, I have been in contact with Comenity Bank multiple times to solve this issue and directly work with them to fix this without further issues. I have received answers such as " the account states do not attempt to collect a debt '' when asked why I do not receive phone calls or statements via mail or e-mail in regards to my account. I filed a dispute with their billing department and each returned letter would state it is a duplicate dispute, and when I followed up via telephone, the customer service reps would have no idea what to do and transfer me to various different departments. There was no consistency with the responses I received and no one knew how to handle the situation of the 'lost ' payment and stated 'they report accurately to the credit bureaus '. InXX/XX/XXXX, I got a hold of someone who I assumed was finally going to help me. They requested bank statements as proof of payment so they could review and properly apply to my account and 'satisfy the settlement ', which I had submitted. At this time, they also stated that since my account was sold to XXXX XXXX XXXX, they had no history of my account prior toXX/XX/XXXX, stating they were unable to see anything in regards to the original settlement. Then, I contacted XXXX XXXX XXXX about my account and responded that the account was bought back by Comenity Bank and that I have zero obligation to the account, and to contact Comenity Bank for further issues. Official letter with this statement was sent via mail, releasing their liability for the account. I waited about 10 business days, per Comenity Bank, to allow the bank statements to be reviewed and applied to my account accordingly. Once again, I contacted Comenity Bank and stated the dispute was deleted and would need to file another one, and would need to re-fax bank statements. Throughout the month of XXXX, and into XX/XX/XXXX, I did this a total of 3 times. The gentlemen I spoke with in the settlement department stated he would handle it and would call me back within 5 business days. No returned phone calls and left numerous voicemails requesting he contact me in regards to this issue. Once again, XX/XX/XXXX, I called again and told them I had enough and have done everything I was supposed to and they still have yet to help me. The women I spoke with stated she would submit the request to satisfy the settlement and request to update my credit report, and should receive a letter within 7-10 business days. No response during this time so I followed up XX/XX/XXXX, asking if there was a status. Apparently, XX/XX/XXXX, the request was denied with no further explanation other than the settlement was not satisfied. The current balance states {$930.00}, which would prove that only two payments of {$160.00} would of been applied to the account. Basically, they are stating I never paid them, even with all of the concrete evidence that I have.

Company response to consumer: Closed with monetary relief