Consumer complaint received 2023-12-03 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Experian Information Solutions Inc.
State: NJ

Complaint narrative:
I hope this letter finds you well. I am writing to address a matter of concern regarding the reporting of late payments on my credit report. After a thorough review of my financial records, it has come to my attention that there are inaccuracies in the information you have reported. 

I kindly request that you promptly investigate and remove these late payments from my credit report. I believe that correcting this discrepancy is crucial to maintaining the accuracy of my credit history. I have made multiple attempts to resolve this matter with your organization, but regrettably, no satisfactory resolution has been provided. 

Furthermore, I would like to bring to your attention the arbitration provision outlined in the loan agreement. As a consumer, I am fully aware of my rights under this provision. In the event that the reported late payments are not rectified within a reasonable timeframe, I am prepared to exercise my right to initiate arbitration proceedings. 

Please be advised that pursuing arbitration would not only incur significant costs for XXXX , including attorney fees, an initiation fee, a case management fee, and an arbitration fee, but may also result in additional fees throughout the arbitration process. It is my sincere hope that we can resolve this matter amicably and avoid the unnecessary expenditure of resources. 

I believe that cooperation in this matter is in the best interest of both parties. I kindly request that you acknowledge receipt of this letter and provide a timeline for the resolution of the aforementioned issue. Your prompt attention to this matter is greatly appreciated. 

The arbitration necessitates that both parties share the associated costs. While I understand that this will result in financial burden for both of us, it is essential to recognize that the fees involved in arbitration can be significant. I anticipate that XXXX XXXX XXXX will incur thousands of dollars in attorneys fees, an initiation fee is {$360.00} or more a case management fee of {$1400.00} an an arbitration deposit fee of {$1500.00} among other costs. Given the substantial financial implications, it is in the best interest of Experian to take immediate actions to resolve this matter I remain open to an amicable resolution and kindly request that you promptly investigate and rectify the late payment issue on my personal loan account. I trust that a fair resolution can be reached to the satisfaction of both parties. 

Please consider this letter as my final attempt to address this matter outside of arbitration. If I do not receive satisfactory response within [ reasonable time frame, e.g., 15 business days ] Thank you for your understanding and cooperation. 

Sincerely, [ XXXX XXXX XXXX ]

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