Consumer complaint received 2024-12-30 00:00:00
Product: Credit reporting 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: NV

Complaint narrative:
I am filing this complaint regarding my car loan for a vehicle that has multiple manufacturer recalls, which were not disclosed at the time of purchase. These defects have rendered the vehicle unsafe and severely depreciated in value. This lack of disclosure has caused me significant financial harm, as I am now responsible for paying off a loan balance that far exceeds the vehicles worth. Despite these circumstances, the finance company has refused to renegotiate the loan terms, declare the vehicle a total loss, or assist in resolving this matter.

The finance companys inaction violates several federal laws and regulations that are designed to protect consumers from precisely this type of financial exploitation : 1. 15 USC 6801 & 6802 ( Financial Privacy and Disclosure Requirements ) : The finance company failed to ensure that critical information regarding the vehicles recall status was disclosed at the time of purchase. This omission deprived me of the ability to make an informed financial decision and constitutes a breach of federal disclosure requirements. 

2. 15 USC 1681s-2 ( Fair Credit Reporting Act - Furnisher Responsibilities ) : The finance companys refusal to address the underlying issues related to the vehicle and the loan may result in negative and inaccurate credit reporting. As the furnisher of credit data, they are legally obligated to ensure the accuracy of all reported information, especially in the context of unresolved disputes.

3. 15 USC 1666b ( Timely Resolution of Credit Disputes ) : By refusing to renegotiate or resolve this dispute in a timely and equitable manner, the finance company is failing its legal obligation to address valid credit disputes in good faith.

4. UCC 2-719 ( Remedies for Breach of Warranty ) : The extreme depreciation caused by the manufacturers defect constitutes a fundamental breach of the original agreement. Despite this breach, the finance company has refused to provide any remedy or adjustment to the loan terms, leaving me financially burdened with an unusable vehicle. 

5. 15 USC 45 ( Federal Trade Commission Act Unfair or Deceptive Acts or Practices ) : The finance companys refusal to provide remedies for a defective and unsafe vehicle constitutes unfair and deceptive business practices, as outlined under the FTC Act. 

XXXX. XXXX XXXX XXXX ( 15 USC 2301-2312 ) : The manufacturers recalls and the defects in the vehicle violate implied warranties of merchantability. This, in turn, impacts the validity of the original loan, which is tied to a vehicle that can not perform as warranted. 

7. 15 USC 1692f ( Fair Debt Collection Practices Act ) : By refusing to address the underlying issues and continuing to collect on a loan tied to an inoperable and defective vehicle, the finance company may be engaging in unfair and unconscionable collection practices.

8. Consumer Leasing Act ( 15 USC 1667a ) : This law mandates clear disclosure of all terms and conditions affecting the financial obligations of the consumer. The finance companys failure to address the extreme depreciation and inoperability of the vehicle constitutes a failure to comply with these disclosure requirements.

Additionally, this issue has had a direct and damaging impact on my credit profile. The finance companys refusal to act, coupled with their unwillingness to provide reasonable resolutions, is effectively harming my creditworthiness. This situation has placed me in an untenable financial position that was entirely preventable had the vehicles defects been properly disclosed or addressed.

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