Product: Credit reporting or other personal consumer reports

Subject : Formal Complaint for Inaccurate Reporting of Securitized Charge-Off Account by Apple Card / GS Bank USA Account XXXX XXXX I am filing this formal complaint against Apple Card/ GS bank USA regarding their inaccurate reporting of a charge-off account on my credit report, associated with This account was charged off and subsequently securitized, meaning that Apple no longer retains ownership of the debt. As such, the continued reporting of this account as a charge-off constitutes inaccurate reporting and a violation of my rights under the Fair Credit Reporting Act ( FCRA ) and Fair Debt Collection Practices Act ( FDCPA ).

I have made multiple requests for the assignment contracts and other documents that prove the continued ownership of this debt by Apple To date, no such documentation has been provided. Under the FCRA, I am entitled to accurate information being reported on my credit report. If Apple no longer owns this debt, they should cease reporting it as a charge-off.

I request the following actions : All Assignment Contracts : Please provide all assignment contracts related to this account, including the complete transfer and securitization history. I am entitled to know the rightful owner of this debt under the FCRA.

Proof of Ownership : I request authenticated documentation proving that Apple still owns this debt or has the legal authority to report it to the credit bureaus. 
If ownership can not be established, the reporting of this charge-off must be deemed inaccurate and immediately deleted.

3. Case Law Precedent : In cases such as In re Veal, 450 B.R. 897 ( 9th Cir. BAP 2011 ), courts have ruled that once a debt is securitized, the original creditor no longer owns it and can not assert ownership without proper documentation. Apple must provide clear evidence of ownership or cease reporting.

Additional Legal Grounds Violation of the Fair Credit Reporting Act ( FCRA ) : Under 15 U.S.C. 1681s-2, furnishers of credit information are required to ensure that the information they report is accurate. Reporting a debt that is no longer owned by Apple is a violation of this requirement. If ownership can not be proven, this inaccurate reporting should be corrected by removing the charge-off from my credit.

Violation of the Fair Debt Collection Practices Act ( FDCPA ) : If Apple no longer owns this debt but continues to report or attempt collection, this may also violate the FDCPA. Under 15 U.S.C. 1692e, false representation of the character, amount, or legal status of a debt is prohibited. Reporting a debt as a charge-off without ownership or proper legal standing could be considered a deceptive and unfair practice.

Request for Reinvestigation I am also requesting that the CFPB direct the credit reporting agencies involved to conduct a comprehensive reinvestigation under 15 U.S.C. 1681i. As part of this reinvestigation, I request that any documentation regarding the ownership and validity of this debt be forwarded to me for review. If the original creditor can not provide these documents, I expect the charge-off to be deleted from my credit report.

Consequences of Inaccurate Reporting Please be advised that inaccurate reporting can result in statutory damages under the FCRA. I reserve the right to pursue legal action for damages up to {$1000.00} per violation, in good faith without prejudice all rights reserved, in addition to any actual damages resulting from this misreporting, including harm to my credit score and any denial of credit. I am prepared to file a lawsuit if this issue is not resolved through the deletion of the charge-off.

Requested Resolution : Provide the assignment contracts and proof of ownership for this account.

If ownership can not be established, remove the charge-off from my credit report.

I expect a response to this complaint within 14days, including either the requested documentation or confirmation that the charge-off has been removed from my credit report. 
Thank you for your attention to this matter. I look forward to your prompt response.