Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #4529452
Complaint Overview
Complaint ID: 4529452
Company: Loancare, LLC
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-Issue: Their investigation did not fix an error on your report
State: California
ZIP Code: 93560
Date Received: 2021-07-09T12:00:00-05:00
Date Sent to Company: 2021-07-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have my mortgage serviced by LoanCare. My automatic payment for the month of XX/XX/XXXX, did not come out as it does every month. On three separate recorded calls with Loan Care, they have verbally admitted that the ACH payment did not come out due to " their internal error. '' The funds were fully available and my payment has never had an issue. I am someone who protects their credit score for more reasons than financial. My job requires good credit, due to the nature of my job and what it entails. This has really been very disruptive to my life, and it could potentially jeopardize my position and job, due to Loan Cares blatant, unfair, unlawful practices toward their customers. They said they would post the payment as current, however, could not do anything about the 1x30 derogatory reporting to my credit profile. I spoke to XXXX, ID XXXX, on XX/XX/XXXX. He was in the " escalation department '' and stated that it could be removed, after I explained what happen, and then back tracked and said, " well it has to go through our credit bureau department to see if it was an error on our end '' I advised him that on 2 recorded calls with LoanCare, Informative Research, and the processor from the company doing his current refinance, the agents advised Informative Research that they would show the payment as current due to the internal error, however, they can do nothing about the 1x30 derogatory. I am beyond shocked that LoanCare could conduct themselves in this manner, that is unfair, unlawful, to the 3rd degree. Reviews on several sites, including social media, have prompted me to write this to Business Oversight, to bring awareness and put them in regulatory radar from all the regulatory watch dogs. How can a business keep operating in a very suspicious unlawful manner. I am in the process of refinancing to better my home for my children and I, I am a single father. I want to improve the life of my children, protect my job, and move on, however this one 1x30 late is a wrench in the fair pursuit of a better life. Loan Cares has purposely avoided this issue.. I demand they remove this 1x30 derogatory mark. My record shows I have not missed any payments and I am not going to sit on my laurels for their mistake. Please help me to get resolution for their mistake!
Frequently Asked Questions
What is Complaint #4529452 about?
Complaint #4529452 was filed against Loancare, LLC regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Problem with a credit reporting company's investigation into an existing problem. It was received by the CFPB on 2021-07-09T12:00:00-05:00.
How did Loancare, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit reporting, credit repair services, or other personal consumer reports) and describe your issue in detail.
Can I see other complaints against Loancare, LLC?
Yes, visit the Loancare, LLC company profile at readthecomplaint.com/company/loancare-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.