Consumer complaint received 2025-02-19 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Problem with personal statement of dispute
Company: EQUIFAX, INC.
State: NJ

Complaint narrative:
On XX/XX/XXXX, I was notified by my credit reporting service that my credit score dropped from XXXX to XXXX. I have perfect credit, was shocked, and immediately started to investigate. 

Upon research, it was discovered that XXXX marked XXXX accounts as delinquent on XX/XX/XXXX. Not once, but XXXX separate delinquent accounts. These are all one loan account/one payment, but XXXX segregated XXXX individual semester loan as an individual loan crushing my credit score. 

The confusion stemmed from the fact I had an account on XXXX ( parent plus loan ), that has been paid in full on-time 100 % of the time for 10 years but was transferred to another servicer CIS approx XX/XX/XXXX. That account showed a balance of {$0.00} on XXXX end, and XXXX has the loans on administrative deferment and recorded as on-time and up to date. 

What I was not aware of, was that XXXX XXXX had another loan account assigned to my social that was in deferment due to COVID. I have no communications from XXXX XXXX that my loan was being re-assigned or that payments were starting again. XXXX was the last time that loan was active due to COVID. I only received email communication from XXXX that my account had a payment due starting in XX/XX/XXXX, and my first " late '' payment was due XX/XX/XXXX. I logged in each and every time I received that email but to my knowledge, my account was up to date. I had no information that this communication was in regards to a transferred loan and not the parent plus loan. There was nothing in the past due emails that spoke to that transfer either. 

I called XXXX immediately Tuesday XX/XX/XXXX. I had to wait to call, because even though they took this severe action they had no customer service support over the weekend. When I spoke to a rep, this was the first time I was notified that XXXX XXXX moved a loan to XXXX, and even though one account moved away to XXXX this new account was added to XXXX. Without any additional info they then shared that I am now 4 months late and my accounts have been marked as delinquent. Instead of offering to help, I was told anything I said would be used against me in a collections court. It was like speaking to a collections agency more than it was a government loan provider who is supposed to help me. When I asked basic questions I was told " I am not a credit expert, all I can tell you is your past due and this will stay on your credit we wont remove it ''. Had I known paying the loan would not help my credit, I would have waited and got legal assistance however that was not presented to me. It was scare tactics to get me to pay now. 

To rectify the situation, I immediately created a new account and paid the balance on XX/XX/XXXX so there is no outstanding payment. I called XXXX again XX/XX/XXXX to ask if I can get assistance with my credit because this didn't seem right to me and the loans were now current, and I was told that this was my mistake. Even though I had 100 % on time payment for 10+ years of loan repayment they were unwilling to remove the delinquency from my credit score. Additionally, I asked if I could submit a letter of goodwill to explain the situation and was also told that was not possible. 

So, even though I was never notified of my loan being moved from XXXX XXXX + incredible confusion having one account leave XXXX while another was added, the transition from COVID pauses, 100 % on time payment for a decade, and immediate payment of anything that is outstanding, I have no recourse. I now face 7 years of poor credit with no help from XXXX. Not once was I called, not once did I receive mail, only communication was a few emails that my account was past due and I had no idea which account they were even contacting me about because I logged into the portal as they instructed. Wait times can be 2+ hours to call sometimes so it was impossible to get answers. All I want is my credit corrected, or even a reduction in the # of delinquencies given they are all paid up. I can not believe this is the outcome after a decade of loyal payment of thousands of dollars a month.

Company response to consumer: Closed with explanation