Consumer complaint received 2024-12-06 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Investigation took more than 30 days
Company: Experian Information Solutions Inc.
State: GA

Complaint narrative:
Details of the Issue On XX/XX/year>, I formally disputed a debt reported by XXXX XXXX XXXX ( MCM ) with all three credit reporting agencies ( Experian, XXXX, and XXXX ). I provided supporting documentation, including a police report and an identity theft affidavit, and requested that the debt be removed until XXXXXXXX XXXX XXXX XXXX XXXX ) validated the alleged debt. 

Despite my timely dispute, all three CRAs failed to conduct reasonable investigations or properly address the inaccuracies in my credit reports. The debt was not removed from my credit reports until XX/XX/year>, months after I provided evidence and filed my dispute. This delay caused significant harm to my financial standing, emotional well-being, and reputation.

Issues with CRA Conduct 1. Failure to Conduct Reasonable Investigations Under FCRA 611 ( a ), the CRAs are required to conduct a reasonable investigation into disputes. In this case : The CRAs continued to report the debt without requiring proper validation from XXXX XXXX XXXX. 
The CRAs failed to account for the evidence I provided, including a police report and identity theft affidavit, as required by FCRA 605B.

2. Prolonged Reporting of Fraudulent Debt Despite being notified of my identity theft claim and dispute, the CRAs allowed XXXX XXXX XXXX to continue reporting the debt, violating FCRA 1681e ( b ), which mandates the accuracy of consumer reports. 
The debt remained on my reports until XX/XX/year>, months after my initial dispute. 
XXXX. Failure to Block Fraudulent Debt As a victim of identity theft, I provided the required documentation under FCRA 605B to block fraudulent information. The CRAs failed to act promptly and continued to report the debt until it was eventually removed.

4. Delayed Correction of Inaccurate Information The CRAs only removed the debt after significant delays, which caused financial and emotional harm. This violates their obligation under FCRA 1681i ( a ) to correct inaccurate information after a dispute.

Harm Caused 1. Financial Harm : The inaccurate reporting of this debt lowered my credit score, resulting in credit denials and higher interest rates on loans and credit cards.

The delay caused me to lose financial opportunities.

2. Emotional Distress : The CRAs failure to promptly investigate my dispute and remove the fraudulent debt caused stress and anxiety.

3. Reputational Damage : The prolonged presence of this invalid debt on my credit reports harmed my reputation as a reliable borrower.

Violations of Federal Laws Fair Credit Reporting Act ( FCRA ) : 1. 1681e ( b ) : The CRAs failed to ensure the accuracy of information in my credit reports.

2. 1681i ( a ) : The CRAs failed to conduct reasonable investigations into my dispute and correct inaccuracies promptly.

3. 605B : The CRAs failed to block fraudulent information despite receiving appropriate documentation, including a police report and identity theft affidavit.

4. 1681s-2 ( b ) : The CRAs failed to ensure that XXXX XXXX XXXX XXXX as a furnisher, properly investigated and corrected the inaccuracies.

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