Consumer complaint received 2024-09-04 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: VA

Complaint narrative:
I am sharing my experience to highlight the critical importance of accurate credit reporting and the damaging consequences when errors are not corrected. I am formally disputing several significant inaccuracies and errors related to the alleged account receivable ending in # XXXX with XXXX XXXX XXXX XXXX, as reflected on my credit report dated XX/XX/XXXX. These discrepancies have negatively affected my credit score and overall financial standing, raising serious concerns about compliance with the Fair Credit Reporting Act ( FCRA ) and the Fair Credit Billing Act ( FCBA ). 

Key Issues : Discrepancy in Creditor Name : The creditors name is inaccurately listed as XXXX XXXX XXXX XXXX, which may not match the legally recognized name of the entity. Additionally, the creditor/furnisher consistently identifies itself as XXXX XXXX on billing statements, which conflicts with its official charter name. This discrepancy raises concerns about whether the entity is properly identified on my credit report, potentially leading to significant reporting inaccuracies. 

Missing Balance and Monthly Payment Information : My credit report reflects a balance of {$2000.00} as of XX/XX/XXXX, but it lacks any detailed information about the payments leading to this balance. There is no indication of scheduled payments or how this balance was calculated. The absence of this critical information may constitute a billing error under the FCBA and violates the requirement for accurate and complete reporting under the FCRA. 

Incomplete Terms Duration : The Terms Duration is listed as XXXX, but it is unclear what this number representswhether it refers to months, payments, or another term. This incomplete reporting complicates my understanding of the terms of the alleged account and violates the FCRAs requirement for clear and accurate reporting. 

Inaccuracies in High-Balance Reporting : The high balance is reported as {$2000.00}, which does not align with the current balance of {$2000.00}. No explanation is provided for this discrepancy, raising concerns about the accuracy of the reporting. Accurate balance information is essential to maintain a clear and fair credit history. 

Inconsistent Reporting Dates : The account is reported as Charge off, but the dates associated with the alleged accountsuch as the Date Opened ( XX/XX/XXXX ) and Date Last Reported ( XX/XX/XXXX ) are inconsistent. These discrepancies suggest potential errors in how the information was recorded, violating the FCRA 's mandate for accuracy in credit reporting. 

Lack of Transparency Regarding Account Ownership : The status of the alleged account shows Charge off, but there is no clear information on whether the debt was transferred to another lender, sold to a XXXX-party debt buyer, or remains with XXXX XXXX XXXX XXXX XXXX The lack of transparency regarding current ownership of the alleged debt violates the FCRAs requirement to disclose the full identifying information of any entity furnishing data. 

Despite initiating the dispute more than XXXX  days ago, the Credit Reporting Agencies ( CRAs ) have failed to resolve these issues. Under the FCRA, CRAs are required to conduct a timely and thorough reinvestigation of disputed information, typically within 30 days. The failure to address these errors promptly may constitute a violation of federal law.

I am requesting a thorough investigation into this alleged account receivable ending in # XXXX under both the FCRA and the FCBA. If the creditor or furnisher can not verify the accuracy of the reported information, I demand that all incorrect or unverifiable entries related to this account be permanently removed from my credit report. The CRAs are obligated to investigate promptly and correct any inaccuracies to ensure my credit report is accurate and fair.

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