Consumer complaint received 02/26/2018 about Credit reporting, credit repair services, or other personal consumer reports (Credit reporting) with Experian Information Solutions Inc. (NY).
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint: XXXX has failed to address my concerns about being deceived into accepting a repayment plan that resulted in a large past due balance as well as negative marks reported to my credit. 

I incurred a large past due amount because I was misled deceived and tricked by XXXX into accepting a repayment plan they proposed. After I accepted their plan, payments were sent equal to the new lower monthly amount proposed by XXXX. My XXXX XXXX XXXX sent these payments on my behalf. 

To reiterate, I am the one who spoke directly with XXXX, over the phone, verbally accepting their repayment plan. During this conversation that I verbally accepted the plan, XXXX agent proposed I pay a SUBSTANTIALLY lower monthly payment, a payment I was told will become my new monthly payment. This was the ONLY thing communicated to me in this call about the repayment plan and then the XXXX asked me, " Do you accept this new monthly payment amount ''. 

I later learned that I was not told the full terms of the plan. In XX/XX/2018 I called XXXX because I saw a series of negative marks on my credit report. 

During this XX/XX/2018 call, after a long series of prodding questions to their XXXX, I finally learned the exact terms of XXXX repayment plan. I was told by an agent that the new lower monthly payments I had begun to make did not satisfy my monthly payment because they were not the full amount due under the initial terms of the loan and I would be reported as past due every single month as long as I was under this plan. Once the agent told me this, I told her that XXXX DID NOT tell me this would happen to me. I told her only thing XXXX did was propose a new low amount and then verbally asked if I accepted this new lower monthly payment with a XXXX or XXXX. 

I then immediately terminated the plan. I also was told during this call that the amount due in XXXX was not included in the plan and it was also past due. Again, I was never told it was not part of the plan when I initially accepted the plan. 

For clarity, XXXX was contacted in late XXXX, by my XXXX XXXX XXXX on my behalf seeking repayment options. This occurred in late XXXX at my direction, only a few days past my due date to set up some type of plan because I could not afford to pay my XXXX payment. XXXX provided a response to my XXXX XXXX XXXX yet failed to implement the plan for some reason. 

I subsequently called directly to XXXX because they had failed to fax over everything needed to my credit counseling company and/or was not responding to their calls. Again, at this time XXXX failed to mention that XXXX amount wouldn't be part of the plan. It was also at this time XXXX proposed to me a lower monthly payment and asked ME directly if I would accept this lower monthly payment as discussed above. 

XXXX failed to tell me when they proposed to me a new lower monthly payment that I would be reported past due every single month even if I paid this new lower amount every month. XXXX failed to tell me they would not include the XXXX amount due in the repayment plan. XXXX XXXX   ONLY told me about the new lower amount, an amount which is substantially lower than the regular monthly amount, which enticed me and mislead me into accepting the plan Had I known the full details of the plan proposed by XXXX, I would have opted for a plan that would not result in negative notations and I would not have accepted the plan they proposed. No reasonable person would put themselves what I have been through by XXXX and NO reasonable person would pay a monthly payment that would result them to be reported negatively. There are still years remaining till full repayment. Meaning under their plan I would be reported negatively to my credit for years. No one would accept derogatory marks EVERY MONTH for YEARS even though they were paying exactly what was proposed by the creditor. 

The negative marks are inaccurate because they are based upon misleading and deceiving statements made by XXXX agents. XXXX XXXX  failed to fulfill their duty to inform their customer of the full terms of the plan, even though I was on the phone with them and they could have. I was deceived by XXXX and I should be compensated by XXXX with the removal of these marks. 

When I complained i XX/XX/2018 about this, the agent said " I should have asked '' and they didn't have to tell me the full impact of their plan. That is absolutely crazy! 

I was right there, speaking directly to them on the phone and all they had to do was let me know what exactly I was agreeing to and that I would still be past due for XXXX under their plan. But for some reason the company believes they didnt have to share any of that. 

I struggled to pay this past due amount and now I am hoping the damage done to my credit by XXXX inaccurate reporting can be resolved by XXXX. 

The entire purpose of a repayment plan is to pay what is due on the amount and so that moving forward, payments will be more affordable.

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