Consumer complaint received 2024-07-08 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: FL

Complaint narrative:
I once again am disputing the continued and repeated inaccuracies related to the XXXX XXXX XXXX XXXX accounts reported on my consumer report by Equifax. Despite multiple disputes and requests for verification, Equifax has failed to provide me with specific details about the verification process and continues to allow inaccurate information to persist on my report. The following issues have not been addressed adequately, and I demand immediate rectification and deletion of the inaccurate information from my consumer report. 

Lack of Proper Verification : Equifax has not provided the specific details of the verification process, including the identity of the person ( s ) spoken to or the documents reviewed. Under 15 U.S.C. 1681i ( a ) ( 6 ) ( B ) ( iii ), the consumer reporting agency must provide a description of the procedure used to determine the accuracy and completeness of the information if requested by the consumer. 

Continuous Monthly Updates of Charged-Off Account : The XXXX XXXX XXXX XXXX account has been reported as late, in collections, or charged off every single month for the past six years, lowering my credit score every time. According to the Fair Credit Reporting Act ( FCRA ), specifically 15 U.S.C. 1681s-2 ( a ) ( 2 ), furnishers are required to provide accurate and complete information. A charged-off account should not be updated monthly, as it misrepresents the status of the account and harms my creditworthiness. Additionally, the IRS considers charge-offs as ordinary income ( 26 U.S.C. 61 ( a ) ( 12 ) ), which income should not be reported on the consumer report. It should not report monthly on a consumer report as if it were a recurring event. 

Inaccurate Reporting of Account Status : The charged-off amount of the XXXX XXXX XXXX XXXX account has been inaccurately increased every month. This is illegal and a violation of 15 U.S.C. 1681s-2 ( a ) ( 1 ), which prohibits furnishing information relating to a consumer to any consumer reporting agency if the furnisher knows or has reasonable cause to believe that the information is inaccurate, and you Equifax are aware because I have repeatedly shown proof of this and been disputing this very thing for over a year! 

Mismatch of Account Details : The account numbers and amounts reported do not match up with my records. Under 15 U.S.C. 1681e ( b ), consumer reporting agencies are required to follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates.

Unauthorized Reporting of Transactions and Experiences : According to 15 U.S.C. 1681a ( d ) ( 2 ) ( A ) ( i ), a consumer report does not include information solely as to transactions or experiences between the consumer and the person making the report. Therefore, the reporting of transactions and experiences with XXXX XXXX XXXX XXXX on my consumer report is inappropriate and should be removed. 

Violation of Consumer Rights During Disputes : Equifax has allowed updates to the account while it was under dispute, which is a clear violation of 15 U.S.C. 1681s-2 ( b ) ( 1 ) ( A ), which requires furnishers to conduct a reasonable investigation of disputed information before reporting it again. Updating an account during an ongoing dispute is not only illegal but also prejudicial to the consumers creditworthiness.

Permissible Purpose and Maximum Accuracy : Equifax must ensure permissible purpose and maximum accuracy as mandated by 15 U.S.C. 1666b, which outlines the timing of payments and prohibits treating a payment as late if it was made timely according to the creditors requirements. 

In light of the above violations and persistent inaccuracies, I demand the immediate deletion of the XXXX XXXX XXXX XXXX accounts from my consumer report. If Equifax can not provide specific proof and justification for the continued reporting of these inaccuracies, the information must be permanently removed. The ongoing misreporting severely impacts my creditworthiness and ability to obtain credit. 

Additionally, please note that my information was compromised during the Equifax data breach. It is imperative that my consumer report is accurate and free from erroneous information, especially in light of the compromised personal information. 

Failure to address these issues will leave me no choice but to escalate this matter and pursue all legal remedies available to me under the Fair Credit Reporting Act and other relevant laws. I expect a prompt resolution to this matter and a written confirmation that the inaccuracies have been permanently deleted from my consumer report.

Company response to consumer: Closed with explanation