Consumer complaint received 2025-09-11 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Experian Information Solutions Inc.
State: OK

Complaint narrative:
Summary of XXXX XXXX XXXX is inaccurately reporting account information to the credit bureaus. Their reporting practices are misleading, harmful to consumers, and in violation of the Fair Credit Reporting Act ( FCRA ), which requires furnishers of credit information to provide information that is fair, accurate, and complete. 

Details of the Problem XXXX. Extension Misreporting I was granted an extension on a payment. XXXX XXXX states in their own terms and disclosures that extensions do not negatively impact a borrowers credit. Despite this assurance, they reported my account as late to the credit bureaus. 

This violates FCRA 623 ( a ) ( 1 ) ( A ), which prohibits a furnisher from reporting information it knows, or should know, is inaccurate. 

By reporting the loan as late while an extension was in effect, XXXX XXXX knowingly furnished inaccurate information, contrary to both their stated policies and federal law. 

XXXX. Improper Treatment of Loan Installments XXXX XXXX structures repayment into XXXX installments ( typically XXXX in the first week and XXXX the following week ). Their reporting practice is problematic because : If the first installment is even XXXX day late, XXXX XXXX immediately reports the loan as late to the credit bureaus. 

This does not accurately reflect the true loan status, since the borrower has until the final contractual due date of the loan to complete repayment. 

By treating a XXXX late installment as a loan-level delinquency, XXXX XXXX  is misrepresenting the accounts status. 

This practice fails to meet the requirement for maximum possible accuracy under FCRA 607 ( b ) and misleads potential creditors. 

XXXX. Consumer Harm The consequences of this reporting practice are significant : Borrowers are unfairly penalized despite honoring extensions that were promised not to affect credit. 

Borrowers are reported late to the credit bureaus after being just XXXX day late on the first installment, even if they repay the loan in full by the final due date. 

This practice artificially inflates delinquency reporting and damages consumers credit scores. 

Negative marks based on inaccurate reporting can prevent consumers from accessing housing, loans, and even employment opportunities. 

What I Am Requesting I am asking the CFPB to review XXXX XXXX reporting practices and require corrective action. Specifically : That Possible Finance immediately correct the inaccurate late payment reporting on my credit file with Experian, XXXX XXXX XXXX 

That XXXX  XXXX revise their credit reporting policies to ensure : Payment extensions are honored and not reported as late. 

Loan delinquency reporting is based on the final contractual due date, not a single installment being XXXX day late. 

That Possible Finance provide written confirmation once these corrections and policy changes are implemented. 

Why This Matters XXXX XXXX  current practices are not only harmful to me as an individual consumer but also to the public at large. Their methods of reporting are inconsistent with the FCRA, misleading to creditors, and unnecessarily punitive to borrowers who are otherwise repaying their loans. 

By reporting an extension as late and treating a XXXX delay on an installment as a loan delinquency, XXXX XXXX is violating the principles of accuracy, fairness, and integrity in credit reporting. This complaint seeks correction of my record and systemic review of Possible Finances reporting practices.

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