Credit reporting or other personal consumer reports -- Incorrect information on your report -- Complaint #9467816

Credit Reporting Agency Fails to Resolve Disputed Account Information

Complaint Overview

Complaint ID: 9467816

Company: Cavalry Investments, LLC

Product: Credit reporting or other personal consumer reports

Sub-Product: Credit reporting

Issue: Incorrect information on your report

Sub-Issue: Account information incorrect

State: North Carolina

ZIP Code: 27560

Date Received: 2024-06-30T12:00:00-05:00

Date Sent to Company: 2024-07-11T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Risk Assessment

Risk Level: medium

The consumer's repeated attempts to correct inaccurate account information have been met with inadequate responses, suggesting a potential systemic issue in the dispute resolution process.

Consumer Sentiment: negative

Topics: Credit reporting, Incorrect information, Dispute resolution

AI Analysis

CFPB complaint 9467816 was filed against CAVALRY INVESTMENTS, LLC regarding Credit reporting or other personal consumer reports (Credit reporting), specifically about "Incorrect information on your report". A consumer is disputing incorrect account information on their credit report from CAVALRY INVESTMENTS, LLC, and has not received adequate resolution from the credit reporting agency. The complaint was received on June 30, 2024 from North Carolina. The company responded with "Closed with explanation".

Consumer Narrative

I XXXX seen this account pop up on my credit report. I have reached out to request information several times, the last time was last month and still I have nothing. The credit reporting agency did not do anything to correct this inaccuracies. All I got back was a letter stating verified and balance updated.

What You Should Do -- Consumer Action Plan

Consumers should keep detailed records of all communication with credit reporting agencies and creditors, including dates, times, and the content of discussions, to support their disputes.

Legal Context & Consumer Protection Laws

The Fair Credit Reporting Act (FCRA) mandates that credit reporting agencies investigate disputes within a reasonable timeframe and correct any inaccuracies found.

Regulatory Insight

Credit reporting agencies must ensure their verification processes are robust enough to identify and correct genuine inaccuracies, not just rely on creditor verification.

Resolution Likelihood

mixed

State-Specific Consumer Protections

The consumer is located in North Carolina, and state-specific consumer protection laws may also apply to credit reporting disputes.

Industry Comparison

This situation is common in the credit reporting industry, where consumers often face challenges in getting inaccuracies corrected by agencies.

Related Issues

FCRA violations

Frequently Asked Questions

What is CFPB complaint 9467816 about?

CFPB complaint 9467816 involves Credit reporting or other personal consumer reports (Credit reporting). The consumer reported an issue with "Incorrect information on your report", specifically "Account information incorrect". This complaint was filed against CAVALRY INVESTMENTS, LLC on June 30, 2024.

Which company is complaint 9467816 filed against?

Complaint 9467816 was filed against CAVALRY INVESTMENTS, LLC. You can view all complaints against this company on their profile page at /company/cavalry-investments-llc.

What was the company's response to complaint 9467816?

CAVALRY INVESTMENTS, LLC responded with "Closed with explanation". The response was marked as timely by the CFPB.

When was complaint 9467816 filed?

Complaint 9467816 was received by the CFPB on June 30, 2024. It was sent to CAVALRY INVESTMENTS, LLC on July 11, 2024.

What state was complaint 9467816 filed from?

Complaint 9467816 was filed from North Carolina. You can view all complaints from this state at /state/NC.

Was the consumer satisfied with the resolution of complaint 9467816?

Dispute information is not available for complaint 9467816.

What product category is complaint 9467816 about?

Complaint 9467816 is categorized under "Credit reporting or other personal consumer reports", specifically "Credit reporting". This is one of the product categories tracked by the CFPB.

How was complaint 9467816 submitted?

Complaint 9467816 was submitted via Web. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.

What are the consumer's legal options for complaint 9467816?

The Fair Credit Reporting Act (FCRA) mandates that credit reporting agencies investigate disputes within a reasonable timeframe and correct any inaccuracies found. This relates to a Credit reporting or other personal consumer reports complaint against CAVALRY INVESTMENTS, LLC involving "Incorrect information on your report".

How likely is complaint 9467816 to be resolved?

Resolution likelihood: mixed. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.

What does the risk level mean for complaint 9467816?

This complaint is rated as medium risk. The consumer's repeated attempts to correct inaccurate account information have been met with inadequate responses, suggesting a potential systemic issue in the dispute resolution process.

What regulatory actions apply to complaint 9467816?

Credit reporting agencies must ensure their verification processes are robust enough to identify and correct genuine inaccuracies, not just rely on creditor verification. The CFPB tracks complaints like this one to identify patterns of misconduct across the Credit reporting or other personal consumer reports industry.

What should the consumer do about complaint 9467816?