Consumer complaint received 2024-12-25 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: EQUIFAX, INC.
State: TX

Complaint narrative:
Subject : Formal Dispute and Demand for Permanent Removal of Fraudulent Account To Whom It May Concern, I am formally disputing the accuracy and legitimacy of the account listed under XXXX XXXX XXXX which is reflected as a charge-off on my credit report. This account is entirely fraudulent, as I have previously provided comprehensive documentation proving that : 1. The vehicle was never repossessed, as falsely claimed. 
2. The vehicle was stolen and involved in fraudulent activity by third parties associated with the dealership, which has been documented and reported. 
3. I was never informed of any repossession, rebuild, or resale of the vehicle. 

Given the overwhelming evidence, XXXX XXXX XXXX is knowingly perpetuating this fraudulent charge-off by allowing it to remain on my credit report. Under the Fair Credit Reporting Act ( FCRA ) and the Consumer Financial Protection Bureau ( CFPB ) guidelines, it is illegal to report false or inaccurate information on a consumers credit file. 

I demand the immediate and permanent removal of this account from my credit report. Failure to do so will leave me no choice but to escalate this matter by filing a formal complaint with the CFPB and pursuing legal action to protect my consumer rights. 

I expect written confirmation of this accounts removal within 15 days of this notice. 
Civil Court Case Number at my Justice of Peace against XXXX XXXX with XXXX XXXX XXXX : XXXX T exas Attorney General Office : XXXX FTC Report Numbers : XXXX XXXX XXXX Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX  XXXX XXXX XXXX XXXX XXXX XXXX Equifax^ Formal Dispute of Inaccurate Credit Reporting Account XXXX I am writing to formally dispute the inaccurate information reported on my credit report regarding the account with XXXX XXXX,  referenced as XXXX The account is listed as a repossession and charge-off, but this information is incorrect due to the fraudulent circumstances surrounding the transaction and the subsequent theft of the vehicle. 
Details of Dispute : Account Holder : XXXX XXXX Account Number : XXXX Issue : The XXXX XXXX XXXX XXXX  financed under this account was sold to me under fraudulent circumstances by individuals who later stole the vehicle. These events make the loan terms and subsequent repossession invalid. 
Resolution Requested : I request that this account be investigated and corrected on my credit report to reflect the fraudulent activity and remove any derogatory marks, including the charge-off and repossession. 
Supporting Documentation : I have enclosed the following documents to substantiate my claim : 1. A copy of the police report documenting the fraud and theft. 
2. A copy of the Court Case Number XXXX. Any additional correspondence with XXXX XXXX regarding the dispute. 
I kindly request that your agency investigate this matter promptly and remove this incorrect information from my credit report in accordance with the Fair Credit Reporting Act ( FCRA ). 
Please notify me of the results of your investigation in writing. 
This has now been settled in a Justice of Peace Court and will be investigated. 
If additional information is needed to process my dispute, please contact me at XXXX or XXXX I appreciate your prompt attention to this matter. 
Sincerely, XXXX XXXX 1. Fair Credit Reporting Act ( FCRA ) Violation : If the bank reported the fraudulent loan to credit bureaus and failed to correct the information after you disputed it, they may have violated the FCRA. This law requires creditors to ensure the accuracy of information they report and investigate disputes promptly. 
2. Truth in Lending Act ( TILA ) Violation : If the bank failed to properly verify the identity of the applicant or disclose the terms of the loan as required under TILA, they could be in violation. Lenders are responsible for ensuring borrowers identities to prevent unauthorized accounts. 
3. Identity Theft Laws Violation : If the bank was negligent in protecting your personal information or failed to implement sufficient safeguards to prevent identity theft, they could be held accountable under federal or state identity theft laws. 
4. Gramm-Leach-Bliley Act ( GLBA ) Violation : This law requires financial institutions to protect consumer data. If the bank mishandled your personal information and that led to the fraudulent loan, they may have violated the GLBAs privacy and safeguard provisions. 
5. Equal Credit Opportunity Act ( ECOA ) Violation : If the fraudulent account was used to deny you credit or financial opportunities and the bank failed to properly investigate or take corrective action, they could be in violation of the ECOA. 
6. Uniform Commercial Code ( UCC ) - Fraudulent Endorsement or Contracts Violation : Under the UCC, financial institutions have a duty to ensure contracts, such as auto loans, are legitimate. If the bank failed to verify the authenticity of the signatures or loan details, they could be held liable. 
7. State Consumer Protection Laws Violation : Most states have consumer protection laws that prohibit unfair or deceptive business practices. If the bank acted negligently or failed to respond appropriately to your claims, they may have violated these laws. 
Possible Bank-Specific Misconduct If the bank failed to investigate adequately, ignored evidence of fraud, or continued collection efforts after you reported the fraudulent loan, they may also have engaged in : Negligence : Failing to take reasonable steps to prevent or address the fraud. 
Bad Faith : Acting in a way that is contrary to fair dealing and honest practices. 
XXXX XXXX XXXX Formal Demand for Resolution of Fraudulent Loan and Resulting Damages To Whom It May Concern, I am writing to formally demand resolution of a fraudulent and unethical situation involving the vehicle loan associated with my name, XXXX. The actions taken by XXXX XXXX, as outlined below, have caused me significant financial losses, damage to my credit, and emotional distress. The men who opened this loan knew that because of my age and no prior auto loan history that I was the perfect target to fraudulently obtain and maintain an illegal loan. 
Summary of Events : 1. I made a down payment of {$3000.00} and paid $ XXXXmonth for four months on a vehicle that was fraudulently sold to me. 
2. I paid a total of {$920.00} in insurance premiums during this period. 
3. The vehicle was illegally repossessed by the dealership and sold at auction for {$4100.00}, yet XXXX XXXX reported this as a charge-off on my credit report, causing substantial harm for 20 months. 
4. XXXX XXXX  failed to contact me or address the fraudulent activity until I filed a complaint with the Consumer Financial Protection Bureau ( CFPB ). 
Impact of XXXX XXXX Actions : Financial Losses : A total of {$6000.00} in payments and expenses. 
Credit Damage : My credit has been negatively impacted for 20 months, leading to financial strain and potential loan denials. 
Emotional Distress : This situation caused undue stress, leading to depressive episodes and significant emotional hardship. 
Demand for Relief : T o resolve this matter and avoid further legal action, I am demanding : 1. Reimbursement of all financial losses totaling {$6000.00}. 
2. Compensation for credit damage in the amount of {$10000.00}, or an appropriate amount based on your valuation. 
3. Compensation for emotional distress in the amount of {$10000.00}. 
4. Removal of the fraudulent loan and charge-off from my credit report. 
All consideration is respected however this matter should be taken seriously before I move forward legally. 
Response Deadline : I expect a written response to this letter, including your proposed resolution, no later than XX/XX/XXXX If I do not receive an acceptable response, I will have no choice but to escalate this matter further through legal action, filing complaints with regulatory agencies, or both. 
Conclusion : This matter is urgent and has caused significant hardship. I trust that XXXX XXXX will act in good faith to resolve it promptly. 
Dear XXXX XXXX XXXX XXXX, I am contacting you regarding a fraudulent auto loan in my name connected to a XXXX XXXX vehicle. After discovering this account on my credit report, I investigated and uncovered significant evidence indicating that this loan was opened fraudulently without my knowledge or consent. 
Background of the Fraud : On XX/XX/XXXX, I purchased a XXXX XXXX through a third-party dealership in XXXX, Texas, operated by XXXX XXXX . 
In XX/XX/XXXX, the vehicle was unlawfully taken under the pretense of repair and never returned. 
On XX/XX/XXXX, I discovered that XXXX XXXX XXXX reported the loan as charged-off, claiming the vehicle had been repossessed, rebuilt, and resold. This is untrue, as the vehicle was stolen, and I was never notified of any repossession or sale. 
Action Taken : I have already reported this matter to the Consumer Financial Protection Bureau ( CFPB ) and have sent a demand letter requesting resolution & monetary relief. Evidence strongly suggests that fraudulent activity between XXXX XXXX, the dealership, and possibly your company facilitated the creation of this account and illegally ran it as a charge off for 20 months without contacting me. There is no proof of communication to me at this time for which my landlord at this address stated he never received ant letters from XXXX XXXX. 
Request for Immediate Action : I am requesting that XXXX XXXX XXXX 1. Remove the fraudulent account from my credit report immediately. 
2. Issue written confirmation that I bear no liability for this loan. 
3. Provide any documentation your company has related to the origination and handling of this account. ( For my purposes ) If this matter is not resolved promptly, I will have no choice but to escalate legal action. Evidence of fraud will support my case, including any negligence or willful misconduct by your company in approving this loan without verifying my consent. 
Please consider this email an urgent notice of dispute under the Fair Credit Reporting Act ( FCRA ) and respond no later than XX/XX/XXXX. I can be reached at XXXX or XXXX should you require additional information. 
I look forward to your prompt response. 
Sincerely, XXXX XXXX All documentation is for your records proving my claim that this is fraud. I am still seeking monetary relief from XXXX XXXX for my financial losses emotional distress and credit damage before I take legal action. I will be forwarding this email to a lawyer of mine who has been informed of illegal activities at hand. Thank you

Company response to consumer: Closed with explanation