Credit reporting or other personal consumer reports -- Problem with a company's investigation into an existing problem -- Complaint #12185880

Complaint Overview

Complaint ID: 12185880

Company: Experian Information Solutions INC.

Product: Credit reporting or other personal consumer reports

Sub-Product: Credit reporting

Issue: Problem with a company's investigation into an existing problem

Sub-Issue: Their investigation did not fix an error on your report

State: Illinois

ZIP Code: 604XX

Date Received: 2025-02-23T12:00:00-05:00

Date Sent to Company: 2025-02-23T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

am writing to formally file a complaint regarding inaccurate information being reported by Experian for this XXXX XXXX auto loan account ( Account Number : XXXX ). I believe Experian is in violation of the Fair Credit Reporting Act ( FCRA ) by incorrectly reporting this account, particularly in relation to the statute of limitations and the charge-off information. Here are the details of the account in question : Account Name : XXXX XXXX Account Type : Auto Loan Date Opened : XX/XX/XXXX Account Status : Closed Balance Due : {$1100.00} ( as of XX/XX/XXXX ) Charge-off Amount : {$19000.00} written off Last Payment Date : XX/XX/XXXX Payment History : The account has been reported with XXXX charge-offs in a single account over multiple months, including XXXX potentially negative months, which is inaccurate and misleading. The statute of limitations in Illinois for collecting a debt related to an auto loan is 5 years. As such, I believe the account should no longer be reported as a negative item, given the fact that when the last payment was made. Experian is reporting that the last payment was made on XX/XX/XXXX. However, they are not reporting in the ledger any payments made in the year XXXX. The account reflects as being charged-off since XX/XX/XXXX, which puts it past the statute of limitations for this account to be considered collectible or accurate on my credit report. However, Experian continues to report this account inaccurately, showing numerous charge-offs from XXXX through XXXX. The last payment on the account as shown on my credit report was XX/XX/XXXX. The XXXX charge-offs listed in the payment history, along with the continuing reporting of a past due balance of {$1100.00} ( even though the original balance of {$19000.00} has been written off ), are not only misleading but also violate the FCRAs requirement to report accurate information. I respectfully request that the CFPB investigate this matter and intervene to ensure Experian deletes the inaccurate reporting of my account. The continued erroneous reporting is causing unnecessary harm to my credit and violates my rights under the FCRA. To assist in your investigation, I am including the following : A copy of my credit report from Experian showing the discrepancies. Documentation outlining the statute of limitations in Illinois for an auto loan. A summary of the charge-offs listed on my account. Statute of limitations on an auto loan debt in the state of Illinois. This information is relevant to my ongoing issue with Experian inaccurately reporting a charged-off account from XXXX XXXX XXXX According to the laws of Illinois, the statute of limitations for filing a lawsuit related to an auto loan ( or any written contract ) is 5 years from the date of the last payment or the last activity on the account. After this period, creditors are prohibited from suing for the collection of the debt in court, and the debt can no longer be legally enforced. Here are the specific points relevant to my situation : Illinois Statute of Limitations for Auto Loans : Under 735 ILCS XXXX, the statute of limitations for any action based on a written contract ( such as an auto loan ) is 5 years. Last Payment Date : For the XXXXXXXX XXXX auto loan, the last payment was made in XXXX of XXXX. This places the statute of limitations for collection of the debt in this case as having expired in XX/XX/XXXX. Looking at the proof that I've attached, per Experian, the last status update was XX/XX/XXXX ( when the account charged off ). So, there is no way that a payment could have been made in XXXX if Experian hadn't updated the account since XXXX of XXXX. Impact on Credit Reporting : Once the statute of limitations has passed, the debt can not be legally enforced in court. Therefore, it is my understanding that the account should no longer be considered " collectible '' or " reportable '' as a negative item. The continued reporting of the charge-offs by Experian ( even after the statute of limitations has expired ) is not only misleading but also may violate my rights under the Fair Credit Reporting Act ( FCRA ). Please consider this information in your investigation of my case, where Experian continues to report inaccurate information related to the aforementioned XXXX XXXX auto loan account. I request that the CFPB take action to ensure that Experian ceases to report any charge-offs or other negative information related to this account beyond the statute of limitations period.

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