Consumer complaint received 2025-05-29 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Investigation took more than 30 days
Company: EQUIFAX, INC.
State: TX

Complaint narrative:
In early XXXX, I first noticed an inconsistent and inaccurate report regarding a XXXX XXXX account on my credit file. Over the years, this account has been reported with dramatically fluctuating details. Most recently, the account is shown as charged off with a balance of approximately {$39000.00}. However, previous credit reports documented on different dates reveal that the balance and account status were reported differently. There were times when the account balance was significantly lower and marked with a pending or under investigation status, while later reports indicated a full charge-off without any apparent reduction in the outstanding amount. 

On multiple occasionsmost recently in XXXX XXXX submitted dispute letters to the credit bureaus and directly to the company responsible for reporting this account. In these dispute submissions, I provided supporting evidence that clearly demonstrates the following : The reported balance of {$39000.00} is inconsistent with historical data and does not reflect the true status of the account. 
The accounts status has shifted erratically between being reported as deferred, charged off, and closed without proper verification. 
Documentation shows that no payments have been made on this account, yet a payment history is still being attributed. 
My previous dispute communications were supported by records from various dates that illustrate how the balance and status have changed without any corresponding change in my actual financial behavior. 
The investigation responses received have been vague and have failed to include a detailed explanation of the verification methods used, as required by the Fair Credit Reporting Act ( FCRA ). 

Despite providing these documents and repeatedly requesting a comprehensive reinvestigation, the inaccurate information remains unchanged. The credit reporting agencies have not provided a satisfactory explanation or adequately corrected these discrepancies, even though the inconsistencies have been verified time and again. This failure to accurately report established facts has significantly harmed my credit scoredropping it well below what it should beand has affected my ability to secure new credit or obtain favorable interest rates. 

Furthermore, I have observed that the alleged errors on the XXXX XXXX account have persisted over a period extending beyond seven years. This longterm misreporting, which includes both an excessive balance and incorrect charge-off status, runs counter to the statutory requirements to keep credit data accurate and up-to-date. I am particularly troubled that, despite my repeated dispute filings and submission of supporting evidence, the company has failed to verify the alleged information according to the statutory Method of Verification provisions under 15 U.S.C. 1681i. 

As a consequence of these inaccuracies, I have incurred serious adverse financial effects, including a substantially lower credit score and a diminished ability to secure credit. The repeated misreporting of the charge-off status and inflated balance amounts has not only caused me significant stress, but it has also imposed an undue burden on my financial reputation. I have taken all necessary steps to dispute these errors, yet they continue to appear, perpetuating further harm to my credit file. 

* * REQUESTED RESOLUTION * * A fair resolution to this matter would consist of the following actions : 1. * * Immediate Correction : * * - Remove or correct the negative reporting on the XXXX XXXX account so that the balance and charge-off status accurately reflect the history of the account. Given that no payments have been made on this accountor that it has been wrongly assigned a charge-off statusthe account should be updated to reflect the actual circumstances. 
- Provide a written confirmation that the account has been updated, with any erroneous entries removed. 

2. * * Detailed Verification Explanation : * * - Furnish a comprehensive explanation of the verification methods used to determine the account balance and status. This explanation should include the specific procedures and records used to verify the information, in full compliance with 15 U.S.C. 1681i. 
- If the investigation reveals that any of the information is unverifiable or inaccurate, those items must be expunged immediately. 

3. * * Monetary and Statutory Remedies : * * - In addition to the immediate correction, I request that monetary compensation be provided in accordance with federal law. The documented discrepancies in the reporting of this account constitute statutory violations under the FCRA, and I am thereby entitled to statutory damages of {$1000.00} per distinct violation. 
- I expect that the reporting errors, which have severely harmed my credit score and financial standing over an extended period, be met with a fair award for the statutory damages incurred. 

4. * * Preventative Measures : * * - Implement corrective procedures to ensure that similar discrepancies do not occur in the future. This includes updating internal verification methods and dispute procedures to guarantee that once evidence is provided, erroneous information is permanently corrected. 

I respectfully request that the responsible parties take immediate corrective action to address these issues and provide all necessary documentation and confirmation of the resolution. Failure to resolve these inaccuracies within the statutory timeframe will compel me to pursue further legal remedies, including a formal complaint with the Consumer Financial Protection Bureau ( CFPB ) and filing a civil lawsuit for monetary damages under the FCRA.

Company response to consumer: Closed with non-monetary relief