Consumer complaint received 2025-05-21 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: EQUIFAX, INC.
State: SC

Complaint narrative:
Description of the Issue : I am filing a complaint against XXXX regarding an auto loan account ( ending in XXXX ) that has been inaccurately reported on my credit report. This is my second attempt to dispute this account with the credit bureaus. Despite the passage of time and repeated efforts, this account remains on my credit report. The first payment date for this account was over 7 years ago, meaning this account should have been deleted from my credit report under the Fair Credit Reporting Act ( FCRA ) due to the statute of limitations for negative reporting. 

Additionally, the account is being reported as settled ; less than full balance, which is misleading and inaccurate under applicable laws, and continues to cause harm to my credit. 

XXXX of Events : XX/XX/XXXX : The loan was opened with XXXX. I was the primary account holder. 

First Payment Date : The first payment date for this loan was over 7 years ago, and under the FCRA, the account should have been removed from my credit report. 

Settlement : The loan was settled for less than the full balance, but the remarks and balance reporting on my credit report are inaccurate. 

XX/XX/XXXX XXXX : Despite filing a first dispute, the account still appears inaccurately on my credit report. 

Actions Taken by Me : First Dispute : I filed a dispute with Experian, TransUnion, and Equifax requesting the removal of the account due to its age and the inaccurate settlement reporting. No action was taken to address or resolve this dispute. 

Second Dispute : I filed a second formal dispute, again requesting that the account be removed, or at the very least updated to reflect the correct status. Despite my efforts, the account remains incorrectly reported as " settled ; less than full balance. '' XXXX XXXX : I also contacted XXXX directly requesting that they remove or correct the reporting due to these issues. They did not respond to my inquiry. 

Actions Taken by XXXX : XXXX has failed to provide proper verification of the settlement terms or provide documentation substantiating the reported account status. 

The account is still being reported incorrectly, despite my second dispute and the XXXX mark that would require removal under FCRA. 

Dispute Reasons : UCC 9-611 No Pre-Disposition Notice : No notification was received prior to the settlement of this account, violating my rights under UCC 9-611 XXXX 

UCC 9-614 & 9-616 No Post-Sale Accounting : No post-settlement accounting was provided, violating the requirements under UCC 9-614 and 9-616 .

FCRA 623 ( a ) ( 1 ) ( A ) Reporting Incomplete/Unverified Information : The balance of {$0.00} is inaccurately reported with derogatory remarks ( " settled ; less than full balance '' ), which is misleading and does not reflect accurate information under the FCRA. 

FCRA 611 Failure to Investigate : This is my second formal dispute for this account. If a reinvestigation was conducted, it failed to address the inaccuracies in the reporting.

FDCPA 807 Misrepresentation of Debt : The reporting of this account as " settled ; less than full balance '' could be seen as misleading or false in violation of the Fair Debt Collection Practices Act ( FDCPA ), as the settlement was accepted, and there is no outstanding balance. 

FCRA 7 Year Deletion Rule : Since the first payment date was over 7 years ago, this account should have been deleted from my credit report, as required by the FCRA for accounts that have been settled or charged off.

Company response to consumer: Closed with explanation