Consumer complaint received 2024-11-15 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: CarMax, Inc.
State: GA

Complaint narrative:
I am filing this complaint with the Consumer Financial Protection Bureau ( CFPB ) regarding the ongoing inaccuracies in the reporting of late payments and charge-offs by XXXX and XXXX on XXXXhe CarMax Auto Finance vehicle loan ( XXXX XXXX XXXX XXXX XXXX : XXXX ). Despite previous disputes filed directly with these credit bureaus, the errors remain uncorrected, violating my rights under the Fair Credit Reporting Act ( FCRA ) and causing financial and reputational harm. I am now requesting the intervention of the CFPB to ensure that these errors are corrected and to address the damages resulting from the ongoing inaccuracies. 

Legal Basis for Accuracy and Compensation : According to Cushman v. TransUnion Corp., 115 F.3d 220 ( 3d Cir. 1997 ), credit bureaus are required to verify disputed information under FCRA. Additionally, Dennis v. BEH-1, LLC, 520 F.3d 1066 ( 9th Cir. 2008 ), establishes that if a creditor can not substantiate reported information, it must be corrected or deleted. Furthermore, as demonstrated in Doe v. Lexington-Fayette Urban County Government , individuals may seek compensation for damages caused by inaccurate reporting under FCRA.

My previous disputes highlighted these discrepancies, but no corrections were made. Given the impact of these persistent inaccuracies on my credit profile, including increased costs of credit, denial of favorable financial terms, and reputational harm, I am requesting both correction of these entries and compensation for the damages caused by this prolonged inaccurate reporting. 

Specific Reporting Discrepancies by Month and Year : XXXX : XX/XX/XXXX : XXXX reports a CO ( charge-off ) notation. 
XXXX reports 120 days late for this month, inconsistent with Experians charge-off notation. 
XXXX does not provide detailed monthly reporting, leaving this entry blank and unverifiable. 
Request : The discrepancy between XXXX charge-off entry and XXXX XXXX XXXX notation for XX/XX/XXXX is misleading and inaccurate. I request that this entry be removed or updated to show an on-time status unless CarMax can provide bank statements or other documentation substantiating either entry. If substantiation is not possible, the entry should be corrected to reflect an on-time payment. 

XXXX : XX/XX/XXXX : XXXX reports 60 days late. 
XXXX reports 90 days late for this month, inconsistent with XXXX. 
XXXX lacks detailed monthly data, leaving this entry blank. 
Request : The inconsistency between Experians 60-day late notation and Equifaxs 90-day late entry for XX/XX/XXXX suggests inaccuracy. I request removal of this entry or adjustment to an on-time payment unless CarMax can substantiate the entry with bank records. Absent such documentation, the entry should be corrected. 

Request for Compensation for Damages : Due to these unresolved inaccuracies, I have suffered financial and reputational harm, including : Increased costs for credit products due to reduced creditworthiness. 
Denial of favorable financial opportunities, such as better loan terms or approvals. 
Emotional distress and reputational damage resulting from the negative impact on my credit profile. 
Since these inaccuracies remain despite prior disputes, I am seeking fair compensation for the harm caused. This compensation should cover any documented financial costs directly resulting from the inaccurate reporting and an appropriate amount for the distress and impact on my credit profile.

Company response to consumer: Closed with explanation