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Is this a FCRA violation


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I have a loan with United Consumer Financial Services. I bought a Kirby and decided to finance it. They are currently reporting my balance to the credit bureaus as the amount of the loan plus the interest that would be paid over the life of the loan. They say that they have roght to do this. I have never had any other card or loan companies do this. All of loans only report the current balance, not the total balance for the life of the loan. This is adding an extra $600 of debt to my credit report. Please help. I will sue if necessary.

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Since this is NOT a "revolving" loan, like a credit card would be, they are probably reporting the total of payments which you agreed to when you financed.  Read the fine print on your contract.

Exactly. This is an installment loan (and probably reads that way on your credit report), same as if you had financed a car, which also reports the full amount of the loan including interest.

Not an FCRA violation.

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