Consumer complaint received 2025-01-07 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: PENTAGON FEDERAL CREDIT UNION
State: TX

Complaint narrative:
Dear CFPB, PenFed, and Credit Bureaus, I am writing to formally dispute the recent changes in my credit report related to my mortgage account with Pentagon Federal Credit Union ( PenFed ). I have attached all relevant documents and screenshots to support my dispute. 

Details of the Dispute : Mortgage Account Information : Account Number : XXXX Date Opened : XX/XX/XXXX Current Balance : Incorrectly reported with added interest, causing an inflated balance. 
Payment History : I have made all required mortgage payments on time, as shown in my payment history. There have been no missed or delayed payments.

Credit Score Impact : On XX/XX/XXXX, my XXXX credit report showed a XXXXt decrease in my XXXX score, with the explanation that the balance on one of my accounts increased by {$7300.00}. This is incorrect and unjustified, as the increase appears to reflect interest or other charges that do not accurately represent my mortgage balance. 
Incorrect Reporting of Loan Balance : The balance reported on my credit file has been increased without any justification. This negatively affects my credit score and financial standing.

Impact of the Errors : The errors in reporting have caused a drop in my credit score, which can lead to unfavorable financial consequences such as higher interest rates, reduced creditworthiness, and limited access to credit.

Requested Action : Investigate the reporting of my mortgage account and correct any inaccuracies, particularly regarding the loan balance.

Ensure the payment history reflects the accurate status : no missed or late payments.

Update my credit report across all credit bureaus to reflect the correct balance and restore my credit score.

Provide written confirmation of the actions taken to correct this issue.

Supporting Documents : Screenshots of my account showing on-time payments and accurate balance.

Experian credit report highlighting the discrepancies and credit score drop.

Mortgage payment receipts.

I request an expedited review of this dispute and expect a response within 30 days as required by law. Please do not hesitate to contact me for additional information. I appreciate your prompt attention to this matter. 

Also on XX/XX/XXXX, my PenFed added information to my XXXX credit file for a third time after the mortgage which made, my score dropped significantly from XXXX to XXXX and never went back up again. 

This unexplained credit score drop is adversely impacting my financial reputation and may affect future financial opportunities. XXXX lack of response and resolution over a seven-month period is unacceptable. 

Supporting Documents : I have attached screenshots of my credit reports and scores from various platforms to demonstrate the discrepancy and consistency in my credit behavior. 

Requested Resolution : A thorough investigation into why my XXXX credit score dropped by over XXXX points on XX/XX/XXXX. 
Immediate correction of any errors or discrepancies in my XXXX credit report.

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 monetary relief