Consumer complaint received 2024-12-04 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: LA

Complaint narrative:
On XX/XX/year>, I made three loan payments online to the XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX ( XXXX ) to meet the due date of XX/XX/year>, for my three loans. These payments were made in good faith, using my debit card to ensure the funds were immediately withdrawn from my account. The payment details are as follows : 1. Loan 1 Payment : {$180.00} ( includes {$5.00} convenience fee ) Transaction Time : XXXX XXXX  Tracking Number : XXXX 2. Loan 2 Payment : {$200.00} ( includes {$5.00} convenience fee ) Transaction Time : XXXX XXXX  Tracking Number XXXX XXXX 3. Loan 3 Payment : {$610.00} ( includes {$5.00} convenience fee ) Transaction Time : XXXX XXXX  Tracking Number : XXXX Total Paid : {$1000.00} These payments were made prior to the original due date of XX/XX/year>. Additionally, according to Louisiana Revised Statutes 9:3518.1, when a due date falls on a weekend or holiday, the due date is automatically extended to the next business day. In this case, the due date should have been extended to Monday, XX/XX/year>. Despite making my payments well before both the original and extended due dates, XXXX reported all three loans as 30 days late to the credit bureaus. 


**Details of the Circumstances** 1. Notification and Immediate Action On XX/XX/year>, I received a notification from FICO that three of my accounts had been reported as 30 days late. 
I immediately contacted XXXX on XX/XX/year>, providing the transaction details for each payment and demonstrating that they were made on XX/XX/year>, prior to the due date. Despite my prompt action, XXXX refused to correct the reporting. 

2. Timing of Paycheck and Payment My paycheck was deposited late on XXXX evening ( XX/XX/year> ), which left me unable to make the payments earlier in the week. 
With XXXX branches closed for both XXXX and the following Friday, the only option available to me was to use their online payment system on Friday, XX/XX/year>, which I did to ensure my payments were made promptly. 

3. No Other Options Provided In her email response on XX/XX/year>, XXXX XXXX stated : If the payments were made with a teller at a shared branch, everything would have posted for the month of XXXX and the loans would not have been reported to the credit bureau. 

This statement is both unfair and misleading because : 1. XXXX  branches were closed to the public on XX/XX/XXXX, leaving me with no way to pay in person. 
2. Suggesting that in-person payment could have resolved the issue disregards the fact that this option was not available. 

4. Holiday Timing and Inconsistent Policies The holiday timing further highlights inconsistencies and misleading communication about XXXX  payment policies : 1. Policy in the PDF ( Provided on XX/XX/year> ) : States : Payments made after the cutoff time will post the following business day. 
The cutoff time is not explicitly defined for online payments. 
2. Terms Agreed to During Payment : State : Payments submitted after XXXX XXXX  Central Time will be processed within 3-5 business days. 
My payments were submitted well before XXXX XXXX, so they should have been processed and dated as XX/XX/year>. 
3. XXXX XXXX Verbal Explanation : She stated in multiple emails that : Online payments can take one business day to post to the loan. 

These discrepancies, combined with the timing of the holiday closures, created an unfair situation where I was penalized despite acting in good faith. 

5. Payment History While I have occasionally been behind by up to two weeks on payments due to returning to school, I have always ensured that payments were made before reaching 30 days late to avoid negative reporting. My commitment to maintaining good standing with my loans reflects my responsibility and effort to rebuild my financial stability. 

**Personal Experiences with XXXXXXXX  1. Car Loan Denial In the past, despite being initially approved for a car loan, XXXX XXXX unexpectedly denied my application without providing a valid reason after I had finalized arrangements for the car. 
I was only able to secure the loan after escalating the matter to the CEO of the credit union, who overrode XXXX XXXX decision. 

2. Consistent Unreasonable Treatment XXXX XXXX has consistently imposed arbitrary and unreasonable requirements when I applied for loans or sought assistance, despite my proven track record of making payments responsibly. 
These past interactions, coupled with this current issue, demonstrate a pattern of bias and lack of fairness in my dealings with XXXX. 

3. Lack of Leadership Response I contacted the CEO of XXXX about this issue but have not received a response. The lack of engagement from leadership only adds to my frustration and disappointment. 

**Acting in Good Faith** I did everything within my power to ensure these payments were made responsibly : 1. I used the only payment option available ( online ) after receiving my paycheck late on XXXX evening. 
2. I made all payments early on XX/XX/year>, ensuring they were completed well before the cutoff time of XXXX XXXX. 
3. I contacted XXXX immediately upon receiving the late payment notification, providing detailed proof of my timely payments and requesting a resolution. 

Despite these good-faith efforts, XXXX not only reported the payments as late but refused to correct the reporting, citing inconsistent and misleading policies. 

*****Laws Violated and Explanations***** 1. Fair Credit Reporting Act ( FCRA ) Law : Under 15 U.S.C. 1681s-2, creditors must ensure the accuracy of information furnished to credit bureaus. 
Violation : Reporting my payments as late despite documentation showing they were made on XX/XX/year>, violates the FCRAs accuracy requirements. 
Explanation : Creditors are required to investigate disputes and correct inaccuracies. XXXX  refusal to correct their error violates my rights under the FCRA. 

2. Electronic Fund Transfer Act ( EFTA ) Law : Under 12 CFR 1005.10, the date of payment is considered the date the payment is made, not the date it is processed. 
Violation : My payments, made on XX/XX/year>, should have been credited as of that date. XXXX failure to apply this standard violates federal law. 
Explanation : The EFTA protects consumers from arbitrary processing delays, particularly when funds have already been withdrawn. 

3. Louisiana Revised Statutes 9:3518.1 Law : When a due date falls on a weekend or holiday, it is automatically extended to the next business day. 
Violation : XXXX failed to honor the extended due date of XX/XX/year>, instead treating payments made on XX/XX/XXXX as late. 
Explanation : This statute ensures consumers are not penalized for due dates coinciding with weekends or holidays. 

4. Federal Trade Commission Act ( FTC Act ) Law : Under 15 U.S.C. 45, it is unlawful for businesses to engage in unfair or deceptive acts or practices. 
Violation : Misleading terms, inconsistent policies, and refusal to correct false credit reporting constitute unfair and deceptive practices. 
Explanation : Consumers have the right to clear and truthful terms. XXXX actions violate this principle. 

The Harm 1. Credit Score Damage : My credit score has dropped substantially, undermining years of effort to rebuild my financial stability. 
2. Financial Stress : This situation has caused unnecessary stress, as I acted responsibly to meet my obligations and relied on XXXX to accurately report my payment history. 
3. Loss of Trust : XXXX  refusal to correct their error, coupled with misleading policies and past treatment, has eroded my trust in their institution.

Company response to consumer: Closed with explanation