Consumer complaint received 2025-02-02 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: Prosper Marketplace, Inc.
State: MO

Complaint narrative:
My Case : I have disputed this Prosper Marketplace account multiple times through Prosper Marketplace, XXXX, XXXX XXXX and the CFPB however they all continue to close the disputes/complaints without investigation. ( Please see the attached document for the previous disputes/complaints. ) The FCRA states : 611. Procedure in case of disputed accuracy [ 15 U.S.C. 1681i ] ( a ) Reinvestigations of Disputed Information ( 1 ) Reinvestigation Required 611 - 15 U.S.C. 1681i 59 ( A ) In general. Subject to subsection ( f ), and except as provided in subsection ( g ) if the completeness or accuracy of any item of information contained in a consumers file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly, or indirectly through a reseller, of such dispute, the agency shall, free of charge, conduct a reasonable reinvestigation to determine whether the disputed information is inaccurate and record the current status of the disputed information, or delete the item from the file in accordance with paragraph ( 5 ), before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer or reseller.

( C ) Limitations on extension of period to reinvestigate. Subparagraph ( B ) shall not apply to any reinvestigation in which, during the 30-day period described in subparagraph ( A ), the information that is the subject of the reinvestigation is found to be inaccurate or incomplete or the consumer reporting agency determines that the information can not be verified.

( 4 ) Consideration of consumer information. In conducting any reinvestigation under paragraph ( 1 ) with respect to disputed information in the file of any consumer, the consumer reporting agency shall review and consider all relevant information submitted by the consumer in the period described in paragraph ( 1 ) ( A ) with respect to such disputed information.

( 5 ) Treatment of Inaccurate or Unverifiable Information ( A ) In general. If, after any reinvestigation under paragraph ( 1 ) of any information disputed by a consumer, an item of the information is found to be inaccurate or incomplete or can not be verified, the consumer reporting agency shall ( i ) promptly delete that item of information from the file of the consumer, or modify that item of information, as appropriate, based on the results of the reinvestigation; and ( ii ) promptly notify the furnisher of that information that the information has been modified or deleted from the file of the consumer.

623. Responsibilities of furnishers of information to consumer reporting agencies [ 15 U.S.C. 1681s-2 ( 4 ) Duty to provide notice of closed accounts. A person who regularly and in the ordinary course of business furnishes information to a consumer reporting agency regarding a consumer who has a credit account with that person shall notify the agency of the voluntary closure of the account by the consumer, in information regularly furnished for the period in which the account is closed.

My Argument : The credit reporting agencies and the CFPB have been provided with ample documentation such as bank transactions, settlement agreement and Prospers own admissions from the responses in the closed complaints to verify the account, and by Prospers own admittance in CFPB complaint : XXXX XXXX that ( On XX/XX/XXXX, a credit of {$1200.00} was applied to the account following completion of the settlement. ) ( XXXX made the following payments : XX/XX/XXXX {$25.00} XX/XX/XXXX {$25.00} XX/XX/XXXX {$41.00} XX/XX/XXXX {$120.00} XX/XX/XXXX {$960.00} ) but the account continues to be reported inaccurately. The Prosper Marketplace account is still reporting as an open account with a {$1200.00} balance with a report date of XX/XX/XXXX. If Prosper credited the account as they stated on XX/XX/XXXX, then why is it still showing on an XXXX report dated XX/XX/XXXX, that the account is open with a {$1200.00} balance? The disputes were submitted over 30 days ago and the final payments were credited on XXXX XXXX, XXXX per Prospers own admittance which completed the settlement to close the account. 

The FCRA states : 616. Civil liability for willful noncompliance [ 15 U.S.C. 1681n ] ( a ) In general. Any person who willfully fails to comply with any requirement imposed under this title with respect to any consumer is liable to that consumer in an amount equal to the sum of ( 1 ) ( A ) any actual damages sustained by the consumer as a result of the failure or damages of not less than {$100.00} and not more than {$1000.00} ; ( 2 ) such amount of punitive damages as the court may allow ; and ( 3 ) in the case of any successful action to enforce any liability under this section, the costs of the action together with reasonable attorneys fees as determined by the court.

617. Civil liability for negligent noncompliance [ 15 U.S.C. 1681o ] ( a ) In general. Any person who is negligent in failing to comply with any requirement imposed under this title with respect to any consumer is liable to that consumer in an amount equal to the sum of ( 1 ) any actual damages sustained by the consumer as a result of the failure; and ( 2 ) in the case of any successful action to enforce any liability under this section, the costs of the action together with reasonable attorneys fees as determined by the court. ( b ) Attorneys fees. On a finding by the court that an unsuccessful pleading, motion, or other paper filed in connection with an action under this section was filed in bad faith or for purposes of harassment, the court shall award to the prevailing party attorneys fees reasonable in relation to the work expended in responding to the pleading, motion, or other paper.

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 non-monetary relief