Consumer complaint received 2020-05-19
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc. (NY)

Complaint:
On XX/XX/XXXX, I awoke to XXXX XXXX informing me that my credit score had changed. After checking my credit score, I found out that my score had dropped 46 points on XXXX   and XXXX. Unfortunately, XXXX XXXX does not show my Experian score. Im also unsure who can afford to have their credit score drop 46 points at this moment, if ever, but especially in the midst of a pandemic. First, I reviewed my credit report and found out the reason my credit had dropped was due to two items : 1. First, in lieu of the coronavirus pandemic, my family and I relocated to a larger, more spacious and remote place from XXXX, NY. Upon ordering items from XXXX, l realized I had left my XXXX store card in XXXX which allowed me to purchase items with a 6 month 0 % interest rate and gave me money back on dollars spent within XXXX. XXXX allowed me to open up an XXXX credit card with the same money back on purchases and also with an initial {$70.00} credit, but I was aware that this credit inquiry would bring my credit score down but NOT 46 POINTS! 
2. The second was a shocker XXXX XXXX XXXX. I had taken advantage, so I thought, of the forbearance option on my student loans in order to postpone my payments. When I took advantage of this program, XXXX informed me that I may incur interest, but I thought I would try to fight those charges later. According to Experian, Student loan forbearance, as long as it is arranged in accordance with the original loan agreement, will neither hurt nor benefit your credit score. This is the first item shown if you google Forbearance and credit score. XXXX reported forbearance to all the credit agencies. Considering I have only about {$3700.00} left on my student loan balances, my credit report showed that per each loan ( 4 loans that now totaled to a balance of $ 3,700+ ), each had accrued interest. Each separate loan was reported with the interest accrued to it. Overall, the interest totaled {$23.00}, yet this assisted greatly in bringing down my credit score 46 points. 
My first phone call was to XXXX. Why was this information reported when I was taking advantage of an emergency program? XXXX informed me that this information shouldnt impact my credit score, but it did! What was the advantage of this so-called program??! XXXX then informed me there was nothing they could do and that I would have to call the credit agencies. I asked XXXX, Isnt this affecting millions of Americans? I cant possibly be the only one. The supervisor informed me that I was one of few how was that even possible? 
Immediately after ending my phone call with XXXX, I proceeded to call XXXX. After automation and a representative, I was forwarded to the department that could assist. After spending close to two hours on the phone call, XXXX told me I had done an insufficient job verifying my identity. By now I was enraged! This coming from an agency that is so dysfunctional, there password was PASSWORD! XXXX  informed me that I would have to send them a letter via snail mail with 2 forms of identification and other forms of documentation to their PO Box where they would review and then send correspondence back to me. How long would this process take? Just to be clear, XXXX, in one digital stroke could greatly affect my life, but it would take me at minimum 30 days to correct their error and all my legwork. In fact, when I asked to speak to a manager, I was ignored and left on hold indefinitely. 
My second phone call was to Experian. Experian does not even have a call center yet they are the first to tell you that your student loan forbearance has no bearing on your credit score. Here, again, I have to follow the same mail process as with XXXX. 
My final phone call was to XXXX. I must admit, at this moment, this company is the only financial agency of the three that has embraced the current century. XXXX   informed me that, yes, XXXX reporting of each loan had a huge impact on my credit score and that multiple people had been calling about this same issue. XXXX informed me how to dispute the reporting and could actually expedite the resolution by using my email. Thank God! Lastly, XXXX informed me that I should call XXXX again and ask them to remove this somewhat negative reporting. 
Lastly, I should not be experiencing these awful issues in lieu of our current world emergency. Every day I experience a credit card or student loan agency trying to extract additional money from me and/or negative reporting that is affecting my finances, family and life. Where is the help?

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation