Consumer complaint received 2024-07-10 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: Bread Financial Holdings, Inc.
State: OR

Complaint narrative:
Comenity Capital Bank Statement When payments are not received, are made for less than the minimum required, or are received after the due date cutoff time, a late fee will be assessed to the account. Additionally, the account will become past due and may be reported to the credit reporting agencies. 

My Response Statement At the time of establishing the $ XXXX agreement, I was assured that fees and other penalties would be suspended. The representative facilitating the agreement failed to disclose that non-compliance with the minimum payment would still incur penalties. This renders the agreement void, as I was under the impression that the {$70.00} payment constituted the minimum requirement. Consequently, penalizing me for adhering to this agreement is unjustified. 

I perceive these actions as deliberate attempts to complicate and damage my credit standing. The long-term impact on my credit is a direct result of misinformation and circumstances beyond my control. The statement that we have verified were reporting the account correctly to the credit reporting agencies, as required by law is misleading. Compliance with the law also entails adherence to the following : 1. **Fair Credit Reporting Act ( FCRA ) : ** - Banks are mandated to report accurate information to credit bureaus. 
- Any agreement affecting a customers credit information must comply with the FCRA, ensuring accurate reporting. 

2. **Truth in Lending Act ( TILA ) : ** - This law guarantees consumers fair and transparent terms on credit. 
- Any changes to terms, such as voiding minimum payment requirements or late fees, must be clearly communicated and documented. 

Referring to these requirements as a courtesy is erroneous ; it is a legal obligation. My situation, exacerbated by job loss and now a serious medical condition, including potential XXXX, requires understanding and accurate handling. 

I demand the removal of these late reports from my credit record. Failure to comply will result in continuous reports to the XXXX XXXX XXXX ( XXXX  ) and the Consumer Financial Protection Bureau ( CFPB ). 




I am being reported as paying late for months XXXX Although in documentation. 

XX/XX/XXXX Statement : - On XX/XX/XXXX a payment of {$70.00} was made 22 days before the due date XX/XX/XXXX of which the statment shared a minimum payment of {$59.00} was due. I paid more than what was required XX/XX/XXXX Statement : - On XX/XX/XXXX a payment of {$70.00} was made 45 days before the due date XX/XX/XXXX of which the statement shared a minimum payment of {$58.00} due. I paid more than was requried. 

XX/XX/XXXX Statement : - On XX/XX/XXXX a payment of {$70.00} was made 46 days before the due date XX/XX/XXXX of which the statement shared a minimum payment of {$57.00} due. I paid more than was required. 

XXXX Statement - XXXX XX/XX/XXXX and XX/XX/XXXX two payments of {$57.00} ( {$110.00} ) was made 29 days before the dude date XX/XX/XXXX of which the statment shared a minimum payment of {$55.00} due. I paid more than was required. 




You all can say that there was a past due balance that I am being charged for, but that past due balanced incldued the account assured and the accumlation of false pretences ofthe months where I was under the agreement ; therefore, the reporting should be removed as this is a logisical and moral error. At this jucture, I am being penalized just because you can. 

During the periods of which my payments are being reported as late, I experinced unemployment and could not make payments. Sharing this with Comenity and as I had paid for your account assured, they would not honor the removal of finaces as i did npt meet the rewuiremnts. If I would have known that I would have never paid for it. In addtion, I was told that account assured was a seperate entity from Comenity Capital. 

It is not clear when applying that this is the case. The false pretense that it is one entity makes communication and follow through complicated. It was not unitl I requested the need of the account assured I had bene paying for that I discovered all of this information. 


XX/XX/XXXX and XX/XX/XXXX late payments are accurate as I did not make a paymet althought the payemnts is made of an accumliation of late fee charges and account assured charges. 

Charges that must be void as you have refunded them and account assured would not process my appeal or unemployment request. Also to be fair, no one when experiecing unemployemnt, graduation and trasitioning into a new job can afford a minimum payment of {$460.00} or {$340.00} Minimum payments reported for month XXXX have been met on time. Refer to statement documentation as proof. Please report to credit beaureaus accordingly

Company response to consumer: Closed with explanation