Consumer complaint received 2025-03-11 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Incorrect information on your report — Account status incorrect
Company: Exeter Finance, LLC.
State: AL

Complaint narrative:
I am writing to file a formal complaint regarding discrepancies in my credit report related to my car loan account with Exeter. I have been experiencing ongoing issues with how my payment history is being reported to the credit bureaus, and I believe these discrepancies may be a result of predatory practices by the lender that are negatively affecting my creditworthiness.

Background : Since 2021, I have been a customer of Exeter for a car loan. Over the course of my loan, I have consistently received payment receipts from the lender showing both late payments and on-time payments. However, upon reviewing my credit report, I found that the information reported by the credit bureaus does not consistently align with what I have received from the lender. In some months, my receipts show I was late, yet my credit report shows I was current for those same months, and vice versa.

Discrepancies and Concerns : Inconsistent Reporting : The discrepancies between my lender receipts and what is being reported on my credit report are substantial. For some months, I have been told I was on-time by the lender, while the credit bureaus show me as being late. Conversely, other months show as late on my lender receipts but current on my credit report.

Impact on Creditworthiness : These discrepancies are not just errors but have been damaging to my credit score and have hindered my ability to refinance my loan at a more favorable interest rate. The incorrect information being reported to the credit bureaus appears to be intentionally harming my credit profile, which could suggest a predatory practice by the lender to keep me locked into a high-interest loan.

Predatory and Fraudulent Behavior : I strongly believe that this discrepancy may not be a simple clerical error but could be part of a broader attempt to keep me locked into a high-interest rate loan. The lender has continuously provided me with inconsistent and inaccurate information, which suggests potential fraud and predatory lending. Their actions may be a deliberate attempt to prevent me from refinancing at a better rate or making it difficult for me to improve my financial situation.

Steps Taken : I have already contacted the credit bureaus and demanded that they update the account to reflect " paid as agreed '' or remove it entirely from my credit report due to the discrepancies. However, the situation remains unresolved, and I am concerned that both the lenders actions and the reporting by the credit bureaus may be a violation of consumer protection laws.

Request for Investigation : I respectfully request that the CFPB investigate the actions of Exeter and the reporting discrepancies between my lender receipts and the information provided to the credit bureaus. I believe this situation may involve both fraudulent practices and unfair treatment that harms consumers like myself.

I am also concerned about the lenders potential use of this inaccurate reporting to limit my ability to refinance or access better financial terms. I kindly request that the CFPB look into this matter and provide guidance on how to address the ongoing discrepancies in my credit reporting.

Supporting Documentation : I have attached copies of the following documents to support my claim : My payment receipts from Exeter, which show discrepancies between the reported information and the actual payments made.

A copy of my credit report, highlighting the discrepancies in reporting.

I would greatly appreciate your assistance in resolving this matter and ensuring that Exeter is held accountable for any potential violations of consumer protection laws.

Thank you for your time and attention to this serious issue. I look forward to your prompt response and any steps you may take to investigate and resolve this matter.

Company response to consumer: Closed with explanation