Consumer complaint received 2025-04-15 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Exeter Finance, LLC.
State: TN

Complaint narrative:
To Whom It May Concern at the CFPB, I am writing to file a formal complaint against EXETER FINANCE LLC acct # XXXX and the reporting practices of Experian, regarding their continued negative reporting of an account that has been charged off, written off, and fully satisfied. 
Despite the discharge of all financial obligation, the account is still being reported as delinquent, which is misleading, inaccurate, and in direct violation of both the Fair Credit Reporting Act ( FCRA ) under 15 U.S.C. 1681 et seq. and key provisions of the Uniform Commercial Code ( UCC ).

Facts of the Matter : The referenced account was charged off and subsequently written off, after which the balance was satisfied in full.

According to UCC Article 3 3-603, when an obligation is discharged, no further performance is due.

Despite this, Experian and EXETER FINANCE LLC acct # XXXX continue to report this account with a negative status, creating false credit data that directly interferes with my ability to obtain essential financing. 

Violations of Federal Law : 1. FCRA 15 U.S.C. 1681e ( b ) : Credit bureaus are legally obligated to maintain maximum possible accuracy in all consumer credit reports. Continuing to report a satisfied, discharged account as delinquent is a clear breach of this requirement.

2. FCRA 15 U.S.C. 1681s-2 ( b ) : Furnishers of information must promptly correct or delete inaccurate data. Failure to update the status of this account to reflect its resolution is a direct violation of this duty.

3. UCC 3-603 ( a ) : Once a partys obligation has been satisfied, either through performance or acceptance of a payment, the debt is discharged. The continued reporting of this account as anything other than settled in full is fraudulent and deceptive under commercial law.

4. UCC 1-201 ( 20 ) : Verification requires authentic, substantiated evidence. EXETER FINANCE LLC acct # XXXX has failed to produce any lawful justification for the continued negative status post-charge-off and satisfaction.

Demand for Immediate Relief : Delete with Prejudice : I demand the immediate and permanent deletion of this account from all credit reporting agencies. Given that the obligation has been fulfilled, there is no lawful basis for its continued appearance or negative impact. 
Cease and Desist Harmful Reporting : EXETER FINANCE LLC acct # XXXX and Experian must cease and desist from any further harmful reporting or re-reporting of this account. 
Investigation by CFPB : I request a full investigation into the credit furnishing and reporting practices of EXETER FINANCE LLC acct # XXXX and Experian regarding this and similar accounts. 
Compensation for Damages : Due to this ongoing misreporting, I have been denied both a mortgage and auto loan. I am seeking monetary relief for the damages, including financial harm, stress, and lost opportunities caused by this unlawful reporting.

Company response to consumer: Closed with explanation