Consumer complaint received 2024-11-27 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: TRANSUNION INTERMEDIATE HOLDINGS, INC.
State: NC

Complaint narrative:
I am writing to formally dispute inaccurate information reported by XXXX XXXX concerning my loan account XXXX. Upon review, I have identified multiple inaccuracies and issues that I request you investigate and correct. Below are the details supporting my dispute : XXXX. XXXX XXXX Not Followed The loan agreement with XXXX XXXX includes an arbitration clause that specifies disputes must be resolved through arbitration. The relevant portion of the agreement states : " Any claim, dispute, or controversy ... shall be resolved by binding arbitration... XXXX applies to any claim that arises out of or relates to this agreement or your account, including claims related to default, collection, and credit reporting. '' Despite this, XXXX XXXX charged off my account on XX/XX/year>, and reported this status to TransUnion without initiating or completing arbitration as required by the agreement. This action bypasses the mandatory arbitration process and potentially breaches the agreement 's terms. 
The reporting of the charge-off without fulfilling this obligation raises questions about the legitimacy of the reported account status. I request verification of XXXX compliance with the arbitration clause before accepting the charge-off as valid. 
XXXX. Violations of the Truth in Lending Act ( XXXX ) The loan agreement fails to meet several XXXX disclosure requirements, which mandate that loan terms be clear and conspicuous to borrowers. Key violations include : a. APR and Finance Charges The agreement specifies an APR of 36.20 % but does not include a clear, accessible breakdown of finance charges contributing to this rate. 
XXXX requires lenders to disclose the total cost of the loan, including all fees and interest, in a single, clear disclosure. Instead, these details are embedded within dense legal text, making it difficult for borrowers to understand the full cost of the loan. 
b. Payment Schedule The payment schedule lists bi-weekly payments of {$110.00} but does not provide a clear total number of payments required or the cumulative amount to be repaid. 
XXXX requires lenders to disclose this information prominently, so borrowers understand their obligations. 
These omissions and lack of clarity make it impossible for the average borrower to evaluate the true cost of the loan, which XXXX constitute a violation of TILAs Regulation Z. 
XXXX. Discrepancies in Charge-Off Reporting Personify Financial charged off my account and reported the charge-off to your agency but subsequently sold the account to Axiom Acquisition Ventures. However : The credit report still lists XXXX XXXX as the account owner, which is factually inaccurate. 
The charge-off balance lacks clear documentation of how it was calculated, particularly given the lack of clarity in the original agreement regarding fees and finance charges. 
These discrepancies raise concerns about the accuracy of the information reported to your agency, in violation of the Fair Credit Reporting Act ( FCRA ).

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 non-monetary relief