Product: Debt collection

Subject : Complaint Regarding Financial Fraud, Mishandling of Personal Information, and Unauthorized Sale of Data by Portfolio Recovery Associates Dear Sir/Madam, I am writing to file a formal complaint against Portfolio Recovery Associates ( PRA ) for the illegal mishandling of my personal information and potential financial fraud. I believe that PRA has committed serious violations of consumer protection laws, including the unauthorized sale of my personal data and debt collection practices that may be unlawful under federal and state law. I am requesting that the Consumer Financial Protection Bureau ( CFPB ) take immediate action to address these issues and ensure that PRA is held accountable for their actions. 

Summary of Violations : On XXXX, I discovered that Portfolio Recovery Associates had illegally mishandled my personal information and may have sold or transferred it to third-party entities without my explicit consent. This mishandling appears to include, but is not limited to, my Social Security Number ( SSN ), address, and other sensitive financial information. This action constitutes a clear violation of my privacy rights and consumer protection laws.

Moreover, I believe that PRA has engaged in fraudulent activities by either misreporting the status of my debt, failing to provide accurate documentation to validate the debt, or participating in deceptive practices surrounding debt collection. Additionally, the unauthorized sale of my personal and financial information to third parties is an egregious violation of consumer privacy laws and financial regulations. 

Key Violations : Unauthorized Sale and Transfer of Personal Data : The sale or unauthorized transfer of my personal information, including my SSN, address, and financial details, constitutes a breach of privacy under multiple federal and state laws. 
Fair Debt Collection Practices Act ( FDCPA ) 15 U.S.C. 1692-1692p : PRA, as a debt collector, must follow strict guidelines regarding the handling of consumer information. Any unauthorized disclosure or sale of personal data is prohibited under the FDCPA.

Fair Credit Reporting Act ( FCRA ) 15 U.S.C. 1681 et seq. : The mishandling of my personal information by PRA may have resulted in inaccurate or incomplete information being reported to credit bureaus, violating my rights to accurate credit reporting and privacy.

Gramm-Leach-Bliley Act ( GLBA ) 15 U.S.C. 68016809 : The GLBA protects consumers ' personal financial information from unauthorized sharing or selling. The sale of my personal information by PRA is a clear violation of the protections outlined in this act.

Fraudulent Debt Collection Practices : PRA has failed to provide me with valid proof of debt as required by law, and I believe they have misrepresented the debts status in violation of the FDCPA.

FDCPA 1692g : Debt collectors must provide written validation of the debt upon request. PRA has either failed to comply with these requirements or misrepresented the status of my debt.

Misreporting and Inaccurate Credit Reporting : If PRA has incorrectly reported information to the credit bureaus regarding the status of the debt or its collection activities, they may be violating the Fair Credit Reporting Act ( FCRA ).

Penal Codes and Potential Consequences : The illegal sale and mishandling of my personal information by Portfolio Recovery Associates may subject the company to the following penalties : Civil Penalties and Damages under the FDCPA : Under the Fair Debt Collection Practices Act ( FDCPA ), consumers can recover statutory damages of up to {$1000.00} for violations of the Act, such as illegal debt collection practices, the sale of personal data, or failure to provide debt validation.

Punitive Damages and Compensation under the FCRA : If Portfolio Recovery Associates has misreported my credit or mishandled my personal data, I may be entitled to actual damages for harm to my credit, punitive damages ( if the violation is willful ), and attorneys fees under the Fair Credit Reporting Act ( FCRA ).

Penalties under the Gramm-Leach-Bliley Act ( GLBA ) : If PRAs actions violate GLBA privacy protections, they could face substantial fines and penalties for improperly disclosing consumer information.

State Law Violations : Depending on my state of residence, PRA may also face penalties under state consumer protection laws that prohibit the sale of personal information without consent, including the California Consumer Privacy Act ( CCPA ), which protects against unauthorized sales of consumer data.

Civil Penalties : Some state laws may impose penalties of up to {$2500.00} per violation for selling consumer information without consent.

Requested Action : Given the severity of these violations, I am requesting that the CFPB take the following actions : Investigate the illegal mishandling of my personal data and the unauthorized sale of my financial information by Portfolio Recovery Associates.

Remove any negative marks related to this debt from my credit reports, as this debt was likely mismanaged and mishandled.

Ensure that PRA takes corrective action by deleting my personal information from their records and from any third-party collection agencies or entities to whom it may have been sold.

Enforce appropriate penalties for violations of the FDCPA, FCRA, and GLBA, including statutory damages, punitive damages, and reimbursement for financial harm caused by this misconduct.

Provide me with written confirmation that the debt has been properly validated, all errors have been corrected, and any adverse actions on my credit report have been removed.

Conclusion : I trust that the CFPB will take appropriate action to investigate this matter and hold Portfolio Recovery Associates accountable for its illegal actions. I look forward to a timely resolution of this issue, and I am prepared to pursue all legal remedies available to me if this matter is not addressed.

Thank you for your attention to this complaint. I am confident that your agency will take the necessary steps to protect my rights as a consumer and ensure that Portfolio Recovery Associates is held accountable for their misconduct