Credit reporting or other personal consumer reports -- Incorrect information on your report -- Complaint #11346208
Consumer Disputes Inaccurate Late Payment Reporting Affecting Credit Score
Complaint Overview
Complaint ID: 11346208
Company: Experian Information Solutions INC.
Product: Credit reporting or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Account information incorrect
State: Colorado
ZIP Code: 80011
Date Received: 2024-12-31T12:00:00-05:00
Date Sent to Company: 2024-12-31T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Risk Assessment
Risk Level: medium
The inaccurate reporting of late payments can significantly lower a consumer's credit score, impacting their ability to obtain credit, loans, or housing.
Consumer Sentiment: negative
Topics: Credit Reporting, Incorrect Information, Late Payments
AI Analysis
CFPB complaint 11346208 was filed against Experian Information Solutions Inc. regarding Credit reporting or other personal consumer reports (Credit reporting), specifically about "Incorrect information on your report". A consumer disputes inaccurate late payment remarks on their credit report, claiming accounts were paid on time, which has negatively affected their FICO score. The complaint was received on December 31, 2024 from Colorado. The company responded with "Closed with explanation".
Consumer Narrative
I am writing to dispute inaccurate information on my credit report regarding accounts that have been marked as late payments. After thoroughly reviewing my records, I confirmed that these accounts were, in fact, paid on time. This incorrect reporting has negatively impacted my FICO Score. Under US Law 15 U.S.C. 1666b, pertaining to late payment remarks, I am entitled to a fair and accurate investigation of disputed items on my credit report. I kindly request that the status of these accounts be corrected to reflect timely payments.
What You Should Do -- Consumer Action Plan
Consumers should meticulously review their credit reports for inaccuracies and promptly dispute any incorrect information with the credit bureau and the furnisher of the information.
Legal Context & Consumer Protection Laws
Under the Fair Credit Reporting Act (FCRA), credit bureaus and furnishers are required to investigate disputes regarding inaccurate information on credit reports.
Regulatory Insight
Credit reporting agencies must have reasonable procedures to ensure the accuracy of the information they collect and report, including investigating consumer disputes.
Resolution Likelihood
likely
State-Specific Consumer Protections
Colorado consumers are protected by the FCRA, which mandates accurate credit reporting and dispute resolution processes.
Industry Comparison
This issue is common in the credit reporting industry, where errors in account information can lead to widespread consumer complaints.
Related Issues
Frequently Asked Questions
What is CFPB complaint 11346208 about?
CFPB complaint 11346208 involves Credit reporting or other personal consumer reports (Credit reporting). The consumer reported an issue with "Incorrect information on your report", specifically "Account information incorrect". This complaint was filed against Experian Information Solutions Inc. on December 31, 2024.
Which company is complaint 11346208 filed against?
Complaint 11346208 was filed against Experian Information Solutions Inc.. You can view all complaints against this company on their profile page at /company/experian-information-solutions-inc.
What was the company's response to complaint 11346208?
Experian Information Solutions Inc. responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 11346208 filed?
Complaint 11346208 was received by the CFPB on December 31, 2024. It was sent to Experian Information Solutions Inc. on December 31, 2024.
What state was complaint 11346208 filed from?
Complaint 11346208 was filed from Colorado. You can view all complaints from this state at /state/CO.
Was the consumer satisfied with the resolution of complaint 11346208?
Dispute information is not available for complaint 11346208.
What product category is complaint 11346208 about?
Complaint 11346208 is categorized under "Credit reporting or other personal consumer reports", specifically "Credit reporting". This is one of the product categories tracked by the CFPB.
How was complaint 11346208 submitted?
Complaint 11346208 was submitted via Web. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 11346208?
Under the Fair Credit Reporting Act (FCRA), credit bureaus and furnishers are required to investigate disputes regarding inaccurate information on credit reports. This relates to a Credit reporting or other personal consumer reports complaint against Experian Information Solutions Inc. involving "Incorrect information on your report".
How likely is complaint 11346208 to be resolved?
Resolution likelihood: likely. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 11346208?
This complaint is rated as medium risk. The inaccurate reporting of late payments can significantly lower a consumer's credit score, impacting their ability to obtain credit, loans, or housing.
What regulatory actions apply to complaint 11346208?
Credit reporting agencies must have reasonable procedures to ensure the accuracy of the information they collect and report, including investigating consumer disputes. The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit reporting or other personal consumer reports industry.
What should the consumer do about complaint 11346208?
Consumers should meticulously review their credit reports for inaccuracies and promptly dispute any incorrect information with the credit bureau and the furnisher of the information.
Are there state-specific protections for complaint 11346208?
Colorado consumers are protected by the FCRA, which mandates accurate credit reporting and dispute resolution processes. This complaint was filed from Colorado.
How does complaint 11346208 compare to industry norms?
This issue is common in the credit reporting industry, where errors in account information can lead to widespread consumer complaints.
What is the typical timeframe for a credit bureau to investigate a dispute?
Under the FCRA, credit bureaus generally have 30 days to investigate a dispute, with a possible extension to 45 days if new information is provided by the consumer.
What recourse does a consumer have if the credit bureau fails to correct inaccurate information?
If a credit bureau fails to resolve an inaccuracy, the consumer can file a complaint with the CFPB or consider legal action, especially if the inaccurate information causes demonstrable harm.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.