Consumer complaint received 2024-11-15 00:00:00
Product: Debt collection — Credit card debt
Issue: Written notification about debt — Notification didn't disclose it was an attempt to collect a debt
Company: TD BANK US HOLDING COMPANY
State: CA

Complaint narrative:
I am writing to file a formal complaint against TD Bank for incorrectly reporting a late payment on my credit report, which has caused significant harm to my credit score and is severely impacting my ability to purchase a home. 
The account in question is associated with my TD Bank credit card. I recently discovered that TD Bank reported a late payment of {$240.00} to the credit bureaus, which caused a dramatic drop in my credit score. However, I was never properly notified of the overdue payment prior to its reporting, which resulted in negative consequences for my credit. I was not contacted by TD Bank via phone, email, or mail regarding the late payment. 
According to TD Bank, they attempted to contact my husband, asking for me, but refused to identify themselves. When my husband informed them that he was not me, they abruptly ended the call without providing any information about their identity or offering an alternative way to reach me. As a result, I was not made aware of the overdue payment until after the late payment was reported. Shocked at my severely depleted credit score, I contacted TD Bank on XX/XX/year>, and immediately paid off the outstanding balance as well as the remaining balance of {$1400.00}, but TD Bank has refused to assist in removing the late payment from my credit report, citing that they spoke with my husband, even though they never identified themselves and would hang up as soon as he stated his name. It wasnt until this week ( XX/XX/XXXX ) that I received a letter in the mail notifying me of a missed payment. This is the first form of communication on their end and is unhelpful since my credit score has already dropped and I have already paid the remaining balance.

This late payment has caused a significant drop in my credit score, which has severely impacted my ability to secure a mortgage. As a first-time homebuyer, this late payment has resulted in less favorable loan terms, including higher interest rates and reduced loan eligibility, which puts me at a disadvantage in an already difficult housing market. I am struggling to secure financing for a home that fits within my budget, making it even harder to navigate the challenges of buying a home in this market. 
Under the Fair Credit Reporting Act ( FCRA ), I am entitled to be properly notified of late payments before they are reported to the credit bureaus. However, TD Bank failed to provide proper notice, resulting in this inaccurate reporting that has negatively impacted my credit and financial standing. I believe this failure to notify me directly before reporting the late payment is a violation of my rights under the FCRA, and I am requesting that the late payment be removed from my credit report immediately. 
I respectfully request that the Consumer Financial Protection Bureau urgently investigate this matter and assist in having the late payment removed from my credit report. Given the direct and severe impact on my ability to purchase a home and the difficulties I am facing as a first-time buyer in an already competitive market, I would greatly appreciate your prompt intervention to resolve this matter as quickly as possible. 
Please let me know if you require any additional documentation or information to support this complaint. 
Thank you for your attention to this urgent matter. I look forward to your assistance in resolving this issue.

Company response to consumer: Closed with explanation