Credit reporting, credit repair services, or other personal consumer reports -- Incorrect information on your report -- Complaint #4843288
Complaint Overview
Complaint ID: 4843288
Company: Equifax, INC.
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Account status incorrect
State: California
ZIP Code: 92084
Date Received: 2021-10-25T12:00:00-05:00
Date Sent to Company: 2021-10-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
XXXX XXXX XXXX XXXX is misreporting my auto loan status as a Charge-off from XXXX to the three credit bureaus in error. When my vehicle was totaled in XXXX the XXXX GAP insurance on the auto loan should have paid the remaining balance, as promised. XXXX XXXX XXXX XXXX sent me a confirmation in XXXX that my GAP insurance ( see attachment ) coverage would pay the remaining balance and that I just needed to complete their 3 steps to activate my GAP which I completed right away. Three years later in XXXX of XXXX when I was refinancing my mortgage, and my lender pulled my credit reports I discovered my old auto loan was reporting as an unpaid charge-off account. I only then realized that my GAP insurance didn't pay out. To quickly rectify the situation and get my refinance done, I paid the account off immediately then I contacted my GAP insurance and they issued me a check to re-imburse me a few months later ( see attached ). What they failed to do though, is correct my credit report to remove the negative marks which were dropping my credit scores 60-80 points. The account should have been updated to report correctly on my credit reports as a CLOSED account that was never past due and definitely not charged off since my GAP insurance was through my auto lender it was their error that GAP didn't pay out timely, not mine. I am currently in the process of refinancing my house again, and when my credit was pulled, I noticed the account is now being reported as a PAID charge-off with a date of last activity in XX/XX/XXXX. Again, the account should have never reported as delinquent as it was a clerical error with GAP insurance that was out of my control. Yes, the financial part of the issue was fixed however the credit issue has not been.
Frequently Asked Questions
What is Complaint #4843288 about?
Complaint #4843288 was filed against Equifax, INC. regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Incorrect information on your report. It was received by the CFPB on 2021-10-25T12:00:00-05:00.
How did Equifax, INC. 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 Equifax, INC.?
Yes, visit the Equifax, INC. company profile at readthecomplaint.com/company/equifax-inc 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.