Consumer complaint received 2023-12-10
Company: Denefits LLC
State: CA
Product: Debt collection
Sub-product: Other debt
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
Denefits LLC is alleging I owe a debt not owed. Denefits LLC failed to disclose my application and contract are the collateral that is backing this credit sale. Not only is Denefits LLC benefiting from my financial asset the profits I am entitled to have been withheld from me. This is my financial asset that is making profits for the shareholders and the secondary market therefore my return on the said investment should rightfully be mine. It has my name on it. Denefits LLC never disclosed any of this to me even with the Truth in Lending passage on the contract they failed to uphold what is stated. With clean hands and good faith I went into business with Denefits LLC under false pretenses. 



( 7 ) " Entitlement holder '' means a person identified in the records of a securities intermediary as the person having a security entitlement against the securities intermediary. If a person acquires a security entitlement by virtue of Section 8-501 ( b ) ( 2 ) or ( 3 ), that person is the entitlement holder.

( 8 ) " Entitlement order '' means a notification communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement.

( 9 ) " Financial asset, '' except as otherwise provided in Section 8-103, means : ( i ) a security ; ( ii ) an obligation of a person or a share, participation, or other interest in a person or in property or an enterprise of a person, which is, or is of a type, dealt in or traded on financial markets, or which is recognized in any area in which it is issued or dealt in as a medium for investment ; or ( iii ) any property that is held by a securities intermediary for another person in a securities account if the securities intermediary has expressly agreed with the other person that the property is to be treated as a financial asset under this Article. 

As context requires, the term means either the interest itself or the means by which a person 's claim to it is evidenced, including a certificated or uncertificated security, a security certificate, or a security entitlement. 

( 10 ) [ reserved ] ( 11 ) " Indorsement '' means a signature that alone or accompanied by other words is made on a security certificate in registered form or on a separate document for the purpose of assigning, transferring, or redeeming the security or granting a power to assign, transfer, or redeem it.

( 12 ) " Instruction '' means a notification communicated to the issuer of an uncertificated security which directs that the transfer of the security be registered or that the security be redeemed.

( 13 ) " Registered form, '' as applied to a certificated security, means a form in which : ( i ) the security certificate specifies a person entitled to the security; and ( ii ) a transfer of the security may be registered upon books maintained for that purpose by or on behalf of the issuer, or the security certificate so states.

( 14 ) " Securities intermediary '' means : ( i ) a clearing corporation ; or ( ii ) a person, including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity.

( 15 ) " Security, '' except as otherwise provided in Section 8-103, means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer : ( i ) which is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer ; ( ii ) which is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests, or obligations; and ( iii ) which : ( A ) is, or is of a type, dealt in or traded on securities exchanges or securities markets; or ( B ) is a medium for investment and by its terms expressly provides that it is a security governed by this Article.

( 16 ) " Security certificate '' means a certificate representing a security.

( 17 ) " Security entitlement '' means the rights and property interest of an entitlement holder with respect to a financial asset specified in Part 5.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation