Consumer complaint received 2023-06-15 00:00:00
Product: Credit reporting, credit repair services, 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: GA

Complaint narrative:
Subject : Violation of Federal Laws, Request for Immediate Removal of Inaccurate Late Payments - Violation of 15 USC 1681b and Damage to Credit Score due to Incorrect Late Payment Reporting Account : XXXX XXXX XXXX  XXXX  I am writing to express my deep concern regarding the sudden and significant decrease in my credit score from XXXX to XXXX on XX/XX/XXXX. The inaccurate reporting of late payments on my credit report, which violates federal laws, is causing extensive damages and hindering my chances of obtaining a home loan approval within the required timeframe. I have determined that this decline is a direct result of an incorrect late payment that was reported inaccurately on my account. 

The inaccurate reporting of late payments on my account fails to meet this obligation and has led to substantial damages. These damages include : Negative impact on credit score and creditworthiness : Reduced credit score : The inaccurately reported late payments have resulted in a significant drop in my credit score. This decrease in creditworthiness affects my ability to obtain favorable loan terms, including higher interest rates and stricter lending conditions. 
Rejection or denial of mortgage loan applications : Hindered home purchase : The inaccurate late payment reporting has led to the rejection or denial of my mortgage loan applications. As a result, I am unable to purchase a house within the required timeframe. This has not only caused a delay in achieving my homeownership goals but has also resulted in missed opportunities to secure desirable properties. 
Financial losses and missed opportunities : Delayed or missed home purchase opportunities : Due to the negative impact on my credit report, I have encountered delays in purchasing a home. This has resulted in missed opportunities to secure properties that met my preferences and requirements. 
Unfavorable loan terms : The inaccurate reporting has also led to the potential acceptance of unfavorable loan terms, including higher interest rates, stricter repayment conditions, and increased financial burdens in the long run. 
Emotional distress and mental anguish : Stress and XXXX  : The unjustified tarnishing of my credit reputation has caused immense stress and XXXX. The uncertainty surrounding my ability to secure a mortgage loan and the potential consequences of the inaccurately reported late payments have taken a toll on my mental well-being. 
Emotional distress : The emotional distress caused by the situation has resulted in restless nights, increased worries, and a general feeling of frustration. The constant concern about the impact on my financial future and the inability to move forward with my housing plans has added significant emotional burden. 

These damages not only have financial implications but also have a profound effect on my overall well-being and quality of life. I urge Experian to rectify the inaccurately reported late payments promptly and provide appropriate compensation for the damages suffered as a result of their non-compliance with federal laws. 

This is a critical issue regarding the inaccurate reporting of late payments on my credit report, which has resulted in a significant decrease in my XXXX XXXX. I would like to bring to your attention that your reporting practices in this matter are in violation of the provisions outlined in 15 USC 1666 ( b ) and the Fair Credit Reporting Act ( FCRA ).

According to 15 USC 1666 ( b ), a credit reporting agency must refrain from reporting any information that it has determined to be inaccurate or that can no longer be verified. In my case, the reporting of late payments on my account with XXXX XXXX XXXX  is not only inaccurate but also lacks any verifiable proof of its validity. 

Under the FCRA, consumer reporting agencies such as Experian have a legal obligation to ensure the maximum accuracy of consumer information reported. Section 611 of the FCRA, 15 USC 1681i ( a ), states that if a consumer disputes the accuracy of any information in their credit report, the credit reporting agency must conduct a reasonable investigation and remove any inaccurate or unverifiable information within a reasonable time frame. 

It is evident that the reporting of late payments on my account is erroneous and has been made without proper verification. I have meticulously maintained a track record of timely payments, and there is no valid reason for these late payments to be reflected on my credit report. 

I demand that Experian promptly investigates this matter in accordance with the legal obligations outlined in 15 USC 1681i ( a ). I expect you to provide me with verifiable proof that these late payments were indeed late, as well as an explanation as to why they were reported inaccurately. If you are unable to provide substantial evidence to support this late payment, I demand that Experian immediately correct this error and remove the inaccurate late payment from my credit report. 

You might want to look up 15 USC 1681a ( 2 ) ( i ). It says the term " consumer report '' does not include report containing solely as to transactions or experiences between consumers and person making the report. 

I would like to emphasize that the reporting of inaccurate late payments not only damages my credit score but also undermines my financial reputation. It is essential for Experian to adhere to the provisions of the FCRA and ensure that my credit report accurately represents my creditworthiness.

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