Consumer complaint received 2024-01-08 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc.
State: MD

Complaint narrative:
Account with XXXX  credit account XXXX it is now XXXX XXXX this account is has been adversely affected my credit and i ask if it be removed i have no open account with company and its last report date was XXXX of XXXX The Fair Credit Reporting Act ( FCRA ) is a federal law that regulates how consumer credit information is collected, shared, and used by credit reporting agencies. Regarding late payments, the FCRA includes provisions that govern the reporting of accurate and timely information to credit bureaus, as well as the process for disputing and correcting any inaccuracies on credit reports. 

Key points of the FCRA related to late payments include : Accurate Reporting : Creditors and lenders are responsible for reporting accurate and complete information about consumers ' credit behavior to the credit bureaus. This includes information about late payments, missed payments, defaults, and other credit-related activities. 

Timely Reporting : Creditors must report accurate information to credit bureaus in a timely manner. This includes reporting late payments accurately based on the actual payment history. 

Dispute Process : The FCRA grants consumers the right to dispute any inaccuracies on their credit reports. If a consumer believes that information, such as late payments, is reported incorrectly, they have the right to dispute it with the credit reporting agencies. 

Investigation of Disputes : When a consumer disputes information on their credit report, the credit reporting agencies ( Experian, XXXX, XXXX ) are required to investigate the dispute within a reasonable time frame, typically 30 days. During the investigation, the credit bureau will contact the data furnisher ( creditor or lender ) to verify the accuracy of the reported information. 

Correction of Errors : If an investigation reveals that the late payments or other reported information is inaccurate or can not be verified, the credit reporting agency must correct or delete that information from the consumer 's credit report. 

Notification to Consumers : Credit bureaus must notify consumers of the results of their dispute investigations. If the disputed information is changed or removed, the consumer should receive an updated copy of their credit report reflecting those changes. 

It's important to note that while the FCRA provides mechanisms for disputing and correcting inaccuracies on credit reports, it does not give consumers the right to remove accurate and verifiable information, such as legitimate late payments, from their credit reports before the standard reporting period, which is typically seven years from the date of delinquency. 

Consumers can always monitor their credit reports regularly, dispute inaccuracies, and work on improving their credit behavior over time to mitigate the impact of past late payments on their credit scores.

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