CreditFactors

Tag: Experian

  • Experian refusal to investigate factual credit disputes and FALSE accusations of FRAUD

    Here is the repost from the new Liars and Cheats EXPOSED blog at FTC complaint about Experian refusal to investigate factual credit disputes and the documentation and correspondence is posted there.

    My client actually INCLUDED a copy of his drivers license and utility bill with his factual disputes AND Experian provided him with his credit report prior to receiving the disputes.

    Trans Union and Equifax processed the disputes, but on 1/20/10, Experian not only refused to investigate, but also made the most bizarre and FALSE accusation:

    We received a suspicious request regarding your personal credit information that we have determined was not sent by you. This could be deemed as deceptive or fraudulent use of your information. We have not taken any action on this request. Any future requests made in this manner will not be processed and will not receive a response. Suspicious requests are taken seriously and reviewed by Experian security personnel who will report deceptive activity, including copies of letters deemed as suspicious, to law enforcement officials and to state or federal regulatory agencies.

    The SCAN of the 1/20/10 Experian notice.

    We hoped that the law enforcement and regulatory agencies would contact my client after receiving  reports of this fraud from the Experian security personnel.  However, my client was not contacted by anyone.

    On 4/19/10, my client submitted his complaint to the Federal Trade Commission.

    On 5/3/10, he wrote to Experian with the following requests:

    • Identification of all law enforcement and agencies Experian contacted regarding his disputes.
    • The Experian explanation of how it determined that fraud was committed.
    • Deletion of the incorrectly reported and disputed LVNV accounts (this will be addressed in detail at the new LVNV blog)
    • Correction of the student loans.  This is a known systemic problem as all CRAs report the “high balance” as the INITIAL loan amount and they refuse to include the DEFERRED interest that’s added to the loan amount every month.In 9/08 I explained in detail how this INCORRECT reporting lowers FICO scores:

    Credit bureaus and Sallie Mae REFUSE to correct student loan high credit reporting

    • Deletion of several derogatory accounts because Experian does NOT disclose the scheduled deletion date.  Presumably, the accounts are not scheduled for deletion.

    I can’t wait for the response from Experian and it sure would be nice if the FTC actually contacted Experian as per their new policy, for details please read How to File Complaints with the FTC and Other Regulators.

    Of course we will update with the results of disputes at the Liars and Cheats EXPOSED blog:

    FTC complaint about Experian refusal to investigate factual credit disputes

    I’d like to hear from others who received this bizarre Experian decline to investigate and you can post comments at Liars and Cheats EXPOSED.

  • Experian REFUSING to correct rehabbed student loan and incomplete and false Afni collection reporting

    Here we go again, another student loan Experian reporting problem and insane investigation results along with SYSTEMIC false and incomplete Afni collection reporting and strange Experian legal advice.  My email to attorney Chang (Jones Day, counsel for Experian in my case against it) is posted below.

    1) Experian’s refusal to report the rehabbed student loan as “paid as agreed” and refusal to update the 2/07 balance.

    This student loan was rehabbed and it is correctly reported as paid as agreed by Trans Union.

    My client disputed with Experian:

    3) The Dept. of Education loan was rehabbed and must be reported as paid as agreed with the current balance.

    The 8/24/09 Experian investigation results:

    8-24-09-us-debt-investigation-results

    I sure do NOT see any updated information:

    dept-of-ed-8-24-09-experian-results

    The account is reported as derogatory:

    Status: Claim filed with government/Never late.  

    Account history: Claim filed with government as of Feb 2007.

    Creditor’s statement: “Student loan permanently assigned to government.

    Don’t assume that it is a positive account because it’s reported as “never late.”   This is how they TRICK people into NOT disputing extremely derogatory data. 

    In fact, this student loan is as derogatory as any charge-off.

    HINT:  The Experian direct report lists derogatory accounts in the  beginning and derogs are only reported for 7 years.  

    This account is scheduled to continue on record until November 2013.

    Apparently the account became permanently delinquent in 2006.  If it was a positive account, it would be reported for 10 years from payment in full.

    Please note that the account was LAST REPORTED to Experian in 2/2007 with the $15,500 balance.  My client has been PAYING the account and it is CORRECTLY reported  by Trans Union, although the reporting also has not been updated since 1/2008.

    From the TU myFICO report in 7/09:

    7-21-09-dept-ed-tu-correct-reporting

    Note the LOWER BALANCE and that there are NO derogatory remarks. 

    However, the government should obviously update the balance every month.  So many people start paying their defaulted student loans because they are promised that the loans will be reported as POSITIVE accounts after 12 timely payments.   As so often, the government breaks its promises.

    2) Experian’s odd investigation results, refusal to delete collections that were NOT validated and SYSTEMIC false and incomplete reporting of collections.


    My client also disputed the Afni collection.            

    2) Please delete these disputed collections: AFNI, Kenneth Eisen & Assoc and National Credit Adjuster. AFNI and National Credit failed to provide any documentation for the accounts after my disputes.

    The 8/24/09 Experian results state that the account was “reviewed” and the Afni reporting states: “This item was verified and updated on Aug. 2009.”

    afni-reviewed-8-24-09-experian-results

    8-24-09-afni-reporting-experian-results

    Most important: Experian does NOT report the DATE of the DEFAULT to creditors.

    It also reports MANY collections incorrectly as installment loans such as this Afni collection, reports OBVIOUSLY FALSE status dates and it  allows collectors like AFNI to report FALSE information about DISPUTED and usually undocumented collections. 

    Afni has been sued by the MN AG and even featured in a TV news report as a collector notorious for collecting bogus  accounts.

    Since the credit bureau profits INCREASE as they report false and misleading derogatory information, they condone the Afni reporting.

    The Experian employees commit perjury with impunity and claim that Experian implemented procedures to ensure that credit reports are as accurate as possible.  The Experian INVESTIGATION RESULTS prove that Experian in fact takes many measures to deliberately DESTROY consumers’ credit rating, to confuse and deceive consumers with strange statements and it even gives the bizarre legal advice claiming that the INCORRECT reporting complies with the FCRA!

    NOBODY should have to pay me to TRY to explain the absurd credit bureau investigation results.

    Please see my published FTC / state AG complaints at http://credit-reporting-collection-ftc-complaints.info/  Unless Experian changes its SYSTEMIC bizarre credit reporting practices, the Experian collection reporting will become another published regulatory complaint. 

    My email with many questions to attorney Chang:

    (more…)

  • My published complaint to the FTC about the Experian lates after charge-off or collection

    My DRAFT complaint to the FTC is posted at http://liarsandcheats.info/credit-bureau-experian-and-devry-reporting-false-late-payments-refusal-to-delete/

    I have not received a response from Experian or DeVry and I’ll snail mail everything next week to the FTC. That DeVry would DELIBERATELY destroy their former students’ credit and lives is beyond belief.   Obviously, that’s a school to be avoided at any cost.

    Very important, I also addressed Experian’s refusal to disclose when derogatory accounts will be deleted and the possibly re-aging of collections and charge-offs.