Consumer complaint received 2025-10-22 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: EQUIFAX, INC.
State: TX

Complaint narrative:
XXXX XXXX confirmed in writing that my account ending XXXX was settled in full on XX/XX/XXXX, and that no further payments were due. 

Despite this confirmation, XXXX XXXX and the consumer reporting agencies ( XXXX and Equifax ) continue to display the account as XXXX ( CO ) well after the settlement date. 

This conduct directly contradicts both the banks written statement and the FCRA 623 ( a ) ( 2 ) requirement that furnishers must promptly correct and update inaccurate or incomplete information.

- Timeline of Key Events XX/XX/XXXX : Final payment of {$220.00} made to XXXX XXXX under the settlement terms. 

XX/XX/XXXX : XXXX XXXX issued an official letter titled Final Payment Received for Your Settlement of Account Ending in XXXX. 
The letter states : We received your payment to satisfy the balance for your account. As a result, you do not need to make any more payments. 
We intend to discontinue collections and will update our records to indicate that the account is settled. 
This communication serves as the lenders own acknowledgement that the account was resolved and that its records would be updated accordingly. 

XX/XX/XXXX : After noticing that the tradeline still appeared as Charge-Off, I mailed a certified dispute and goodwill adjustment request to XXXX XXXX Credit Bureau Department XXXX XXXX. Box XXXX, XXXX MN XXXX ) and filed matching disputes with XXXX  and Equifax. 

The CRAs both responded that the account was verified no change. 

XX/XX/XXXX : Post-dispute credit files from both bureaus show that the account remains coded as a charge-off, with CO symbols extending well beyond the XX/XX/XXXX settlement. 

Evidence of Ongoing Misreporting XXXX XXXX XXXX  Report ( XXXX / XXXX / XXXX ) Account Name : XXXX Card Status : Paid, Closed {$7900.00} written off Status Updated : XX/XX/XXXX before settlement was completed. * The XXXX payment grid continues to display CO ( XXXX ) codes after XX/XX/XXXX. 

A note on the file reads : This item was updated from our processing of your dispute in XX/XX/XXXX, confirming that the furnisher re-verified the error. 

Exhibit XXXX Equifax Report ( XXXX / XXXX / XXXX ) Account Status : CHARGE_OFF Balance = {$0.00} ; Activity Designator = PAID internally contradictory fields describing the same account as both paid and charged off. 

Reported Date : XX/XX/XXXX after the dispute and months after payoff. 
This demonstrates XXXX XXXX failure to synchronize its furnished data following account resolution. 

Exhibit XXXX XXXX XXXX ( XXXX XXXX, XXXX / XXXX / XXXX ) Official confirmation of payment satisfaction and commitment to update the account as settled. 

This document conclusively establishes that all subsequent CO codes are false and unsupported by fact. 

- Regulatory Context and Industry Standards The Consumer Financial Protection Bureaus Supervisory Highlights, Issue XXXX ( Spring XXXX ) identified this same pattern of misconduct : Examiners found furnishers continued to report charged-off accounts after settlements or payments, violating their FCRA obligation XXXX promptly correct and update furnished information. 

My case mirrors that finding exactly. XXXX XXXX XXXX also contradicts the XXXX XXXX XXXX XXXX ( XXXX ) XXXX XXXX Reporting Guidelines, which state : Once an account is settled for less than the full balance and no further payments are expected, furnishers must report the current balance as {$0.00} and cease reporting ongoing delinquencies or charge-off designations. 

By continuing to furnish CO codes after acknowledging payment in full, XXXX XXXX has caused prolonged credit suppression, inaccurate risk profiling, and measurable financial harm. 
Each reinvestigation cycle that re-verifies this error compounds the violation under FCRA XXXX ( b ) ( accuracy ) and XXXX ( a ) ( reasonable reinvestigation ). 

- Summary of Harm Because the tradeline remains coded as a charge-off : My FICO scores remain suppressed, limiting access to fair-rate credit. 

Creditors and insurers are receiving false risk data showing an unresolved default. 

Repeated disputes have consumed time, cost, and emotional bandwidth, all while the bank has confirmed the debts closure in writing. 

This creates the appearance of an active delinquency more than XXXX months after final settlement a significant distortion of my creditworthiness.

Company response to consumer: Closed with explanation