Payday loan, title loan, or personal loan -- Incorrect information on your report -- Complaint #5758582
Complaint Overview
Complaint ID: 5758582
Company: Mcburberod Financial, INC. D/B/A Seedfi
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Incorrect information on your report
Sub-Issue: Account status incorrect
State: Hawaii
ZIP Code: 968XX
Date Received: 2022-07-11T12:00:00-05:00
Date Sent to Company: 2022-07-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I requested and was granted by SeedFi a payment accommodation ( deferral ) plan in accordance with the Cares Act. My loan # is ( XXXX ). Reported late payments was in XXXX, XXXX, and XXXX of 2022. SeedFi reported me late to the credit bureaus adversely affected my credit. SeedFi was prohibited in reporting me late as I was making modified on time payments as a part of the deferral agreement, and the agreement was made under the protection of the Cares Act regarding credit reporting an scores. SeedFi was not supposed to report me late as long as I was making payments under the deferral agreement. According to the law, when you make an agreement with your creditor to modify repayment, the creditor needs to report to the credit bureaus that you are current on your loan. SeedFi failed to do that and reported me late severely damaging my credit score and costing me several business loans and credit cards. The Cares Act was extended by Congress in 2022.
Frequently Asked Questions
What is Complaint #5758582 about?
Complaint #5758582 was filed against Mcburberod Financial, INC. D/B/A Seedfi regarding Payday loan, title loan, or personal loan specifically about Incorrect information on your report. It was received by the CFPB on 2022-07-11T12:00:00-05:00.
How did Mcburberod Financial, INC. D/B/A Seedfi 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 (Payday loan, title loan, or personal loan) and describe your issue in detail.
Can I see other complaints against Mcburberod Financial, INC. D/B/A Seedfi?
Yes, visit the Mcburberod Financial, INC. D/B/A Seedfi company profile at readthecomplaint.com/company/mcburberod-financial-inc-d-b-a-seedfi 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.