Consumer complaint received 2025-01-21 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc.
State: IA

Complaint narrative:
Formal Dispute of Inaccurate Reporting for Account # XXXX To Whom It May Concern, I am writing to formally dispute the inaccurate reporting of the above-referenced account on my clients credit report. I have traded in this vehicle, and this account, which represents the auto loan for the traded-in vehicle, is being incorrectly reported as " Collection/Charge-off '' by your bureau. This misrepresentation of the account violates both the Fair Credit Reporting Act ( FCRA ) and other applicable laws.

Violations Identified : Violation of FCRA 611 ( 15 U.S.C. 1681i ) : Duty to Investigate and Correct Errors I have fulfilled the financial obligations related to this account, as the vehicle was traded in and the loan was satisfied. Reporting this account as " Collection/Charge-off '' is factually incorrect. This incorrect reporting significantly damages my creditworthiness.

Violation of FCRA 607 ( b ) ( 15 U.S.C. 1681e ( b ) ) : Maximum Possible Accuracy Credit reporting agencies are required to maintain the highest standards of accuracy. The inaccurate reporting of this account as derogatory and " Charged off as bad debt '' is a clear failure to meet this obligation.

Violation of Metro 2 Compliance Standards Per the Consumer Data Industry Associations ( CDIA ) Metro 2 format, tradelines should be accurately reflected based on verified and updated account activity. Failure to update this account as " Paid '' or " Closed '' misrepresents its status and violates industry standards. 

Actions Requested : Immediate Correction of the Reporting Update the account status to accurately reflect its resolution ( e.g., " Closed '' or " Paid '' with a {$0.00} balance ). Remove all derogatory comments and indicators, including " Collection/Charge-off '' and " Charged off as bad debt. '' Reinvestigation and Verification Conduct a thorough investigation of this account and provide me with written confirmation of your findings.

Deletion of the Account, if Accuracy Can not Be Verified If the account can not be verified as accurate under FCRA 611 ( a ), it must be deleted from the credit report immediately.

Supporting Documentation : Enclosed, you will find : A copy of my credit report showing the inaccurate tradeline. 
Evidence that the vehicle was traded in and that the previous loan was satisfied. 
Filing a Complaint with the CFPB : Please be advised that a complaint has been filed with the Consumer Financial Protection Bureau ( CFPB ) against your bureau for failure to comply with federal reporting standards. If this matter is not resolved promptly, I will escalate the issue further, including legal action.

Deadline for Response : Under the FCRA, you are required to investigate this dispute and respond within 30 days of receiving this letter. Please provide written confirmation of the actions taken to correct this matter.

Failure to act on this request constitutes continued willful noncompliance with federal law, which may result in additional complaints and potential damages.

Thank you for your immediate attention to this matter. I look forward to your prompt response. 

Best Regards, XXXX XXXX XXXX Attached you can also find a copy of my DL, SOCIAL and Utility Bill of the new car purchased for trade in, along with the copy of trade in contract.

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