Credit reporting, credit repair services, or other personal consumer reports -- Incorrect information on your report -- Complaint #5122751
Complaint Overview
Complaint ID: 5122751
Company: Loancare, LLC
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Account information incorrect
State: Missouri
ZIP Code: 63031
Date Received: 2022-01-18T12:00:00-05:00
Date Sent to Company: 2022-01-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Loancare ( XXXX XXXX ) erroneously reported my balance and late payment status following a loan modification that was effective XX/XX/XXXX. Loancare reported late payments for XXXX, XXXX XXXX XXXX and XX/XX/XXXX. I made all of those payments on time. I disputed this information with Loancare and the credit bureaus. Loancare provided a written response acknowledging the error and advised that they would update my payment status for those months to reflect as current. The update was in fact made and my credit report was updated accordingly. HOWEVER, on XX/XX/XXXX, Loancare again reported that I was late for the month of XXXX and my credit took a significant hit due to the credit bureaus marking my payment for XXXX XXXX as late. I attempted to dispute this erroneous information with the credit bureaus and was denied the ability to dispute online due to the prior dispute I filed in XXXX. I contacted loan care on XXXX XXXX expressing that Loancare was in violation of FCRA rules and violation of UDAPP regulations due to falsely and unfairly reporting that my XXXX XXXX payment was 30 days late on XXXX XXXX. How could my payment be 30 days late on XXXX XXXX. Additionally, I made my XXXX payment on time. The company acknowledged that I was in fact current and my next payment is not due until XXXX XXXX. Also, Loancare erroneously gave me false information indicating that they did not send information to the credit bureaus and would not send information until XX/XX/XXXX. When I spoke with XXXX I was told that Loancare had in fact reported me as late on XXXX XXXX for the month of XXXX. I'm filing a complaint in regards to Loancare as this is unfairly impacting my credit and my ability to secure new credit. This appears to be a common practice by Loancare based on the complaints I've seen online which requires further inquiry by the CFPB.
Frequently Asked Questions
What is Complaint #5122751 about?
Complaint #5122751 was filed against Loancare, LLC 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 2022-01-18T12:00:00-05:00.
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.