Consumer complaint received 2025-05-13 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: EdFinancial Services
State: IL

Complaint narrative:
On XX/XX/XXXX I obtained my standard monthly credit report and noticed XXXX delinquent student loan accounts reported by ED Financial Services. These were marked with late payments from XX/XX/XXXX- XX/XX/XXXX, and had caused my credit score to drop from XXXX to XXXX - a loss of XXXX points in XXXX reporting cycle. 

I had received no billing statements, notifications, or delinquency notices. Upon investigating with the US Department of Education ( calls placed on XX/XX/XXXX and XX/XX/XXXX ), I discovered that the email on file was not mine, the phone number had not been mine since XXXX, and the mailing address was from my college residence in XXXX. As a result, I had no opportunity to address or cure the delinquency prior to the negative reporting as default status. 

Upon being informed of this information via the credit report, I immediately paid the full balance on XX/XX/XXXX, a total of {$6800.00} across XXXX different XXXX Loans, with confirmation of XXXX balance a few business days after from ED Financial Services. Additionally, on XX/XX/XXXX, I submitted a formal dispute to Experian, along with a written explanation and XXXX exhibits : Screenshots showing notices sent to the incorrect contact information ( email and outdated phone/ mailing address ) Proof of Payment in Full A copy of my credit report showing the XXXX drop I also sent a written request directly to ED Financial Services XXXX XX/XX/XXXX explaining the situation, following the required company steps provided by an Associate of the firm to request a correction on the reporting and removal of the late payments given lack of adequate notice. 

ED Financial Services : On XX/XX/XXXX, ED Financial responded with a letter stating they consider my dispute frivolous or irrelevant and would not investigate further unless I re-sent additional documentation by physical mail - despite the fact I had already submitted a detailed, organized dispute package with supporting evidence ( included in this claim for reference ) On XX/XX/XXXX, I called ED Financial directly to clarify what information was missing and offered to resend anything electronically. I was told again that I was responsible for updating contact information ( even though the basis of my dispute was I had no knowledge of the loan ( s ) and therefore had no prior knowledge I needed updated contact information ) and that nothing would be investigated unless I mailed the same documents again - despite my initial submission being complete, detailed, and professionally formatted. 

Experian : On XX/XX/XXXX Experian then closed out both of my disputes ( XXXX per loan ) without making any correction, despite the strong evidence provided. The accounts remain marked with late payments and my credit score has only partially recovered ( currently XXXX depending on the source ) largely due to the full payment of the loans. 

I am now filing this complaint because both ED Financial Services and Experian have failed their obligations under the Fair Credit and Reporting Act. 

ED Financial Services, as the furnisher of the data violated : FCRA XXXX ( a ) ( XXXX ) ( A ) ( XXXX U.S.C. XXXX ( a ) ( XXXX ) ( A ) ) by furnishing inaccurate or incomplete informationspecifically, reporting late payments despite relying on outdated contact details that failed to provide notice. 


FCRA XXXX ( a ) ( XXXX ) ( B ) ( XXXX U.S.C. XXXX ( a ) ( XXXX ) ( B ) ) by failing to correct or update the information after being made aware the data was inaccurate and the account was paid in full. 


FCRA XXXX ( a ) ( XXXX ) ( XXXX XXXX. XXXX ( a ) ( XXXX ) ) by refusing to conduct a reasonable investigation after receiving a formal dispute with full supporting documentation. 

Experian, as a consumer reporting agency, violated FCRA XXXX ( XXXX XXXX. XXXX ) by closing my dispute without correcting or deleting the inaccurate and unverified late payment data, despite receiving a full dispute package with supporting documentation supporting the basis of my dispute that I had no prior knowledge of these loans being in delinquent status to cause harm upon my credit report. 

These combined failures have resulted in the continued reporting of misleading derogatory marks, a XXXX drop in my credit score, and serious harm to my financial standing and creditworthiness during an active period of a cross-country relocation and career transition, severely limiting my ability to secure housing, transportation ( automobile ), and other large expenses via credit or financing.

Company response to consumer: Closed with explanation