Consumer complaint received 2025-01-23 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: Bread Financial Holdings, Inc.
State: GA

Complaint narrative:
I am filing this complaint due to Comenity Banks repeated and willful violations of the Fair Credit Reporting Act ( FCRA ). Despite my formal dispute sent on XX/XX/year>, the bank has failed to correct inaccuracies or ensure proper reporting of my account across the credit bureaus ( XXXX, XXXX, and XXXX ). This inaction constitutes not only negligence but willful non-compliance under 15 U.S.C. 1681n.

Key Issues Identified : - Failure to Ensure Maximum Possible Accuracy ( 15 U.S.C. 1681e ( b ) ) : Inconsistent and inaccurate reporting was found in all three credit reports, including unclear or conflicting information about payment history and account status. 
- Failure to Correct Inaccuracies ( 15 U.S.C. 1681s-2 ( a ) ) : Comenity Bank failed to investigate or correct errors after receiving a formal dispute, despite being obligated to do so by law.

- Failure to Delete Inaccurate Information ( 15 U.S.C. 1681c ( a ) ( 5 ) ) : Information that is unverifiable or incorrect has not been removed from the credit reports, contrary to statutory requirements.

- Improper Handling of Charge-Offs ( 15 U.S.C. 1681s-2 ( b ) ) : Despite selling the account, Comenity Bank continued reporting it as a " charge-off, '' misleadingly implying an unresolved financial obligation.

- Willful Non-Compliance ( 15 U.S.C. 1681n ) : The banks ongoing failure to address clear violations despite multiple notices demonstrates willful disregard for its obligations under the FCRA. 

Supporting Evidence : - Experian Report : Shows conflicting information regarding the charge-off status and payment history. 
- XXXX Report : Lists a balance of {$270.00} as " charge-off '' over an extended period, even after the account was transferred. 
- XXXX Report : Reflects the account as " charge-off '' with no clear resolution, despite being sold to another lender. 

The inaccurate and willfully misleading reporting by Comenity Bank has caused significant harm to me in the following ways : - Damage to Creditworthiness : The erroneous and inconsistent information across all three credit bureaus has lowered my credit score, reducing my ability to qualify for loans, credit cards, or favorable financial products. This has negatively impacted my financial standing and opportunities. 

- Financial Stress : I have incurred unnecessary stress and frustration due to XXXX Banks failure to address these inaccuracies despite repeated disputes. Their actions have caused me to spend time and resources addressing this issue, including correspondence, document preparation, and consultations. 

- Emotional Distress : The prolonged impact of having a poor credit profile has caused significant XXXX XXXX XXXX, and a sense of powerlessness, knowing that my attempts to resolve these issues have been disregarded. 

- Denial of Credit Opportunities : I have been denied access to essential financial services due to the inaccuracies in my credit reports, which portray me as a high-risk borrower unfairly. These denials have disrupted my financial planning and life goals. 
Reputational Harm : The inaccuracies in my credit reports suggest a history of financial irresponsibility, harming my reputation with lenders and other financial institutions.

Company response to consumer: Closed with explanation