Consumer complaint received 2023-11-08
Company: PLANET HOME LENDING, LLC
State: CA
Product: Debt collection
Sub-product: Mortgage debt
Issue: Attempts to collect debt not owed
Sub-issue: Debt was paid

Complaint:
Planet Home Lending continues to report a debt not owed. Planet Home Lending reports I owe a debt in the amount of {$550000.00} for the contract between me and Planet Home Lending. Tender o payment has been received by Planet Home Lending and accepted under this simple contract between the parties. Planet Home Lending has been notified and my obligation to perform has been met, if Planet Home Lending is refusing the legal tender of payment this debt is AUTOMATICALLY under federal law discharged. 

Planet Home Lending has no right to force performance when they did not actual LOAN anything of value or consideration. Planet Home Lending is a servicer that holds the loan but has no right to collect or actually loaned anything to have rights to my real property. If Planet Home Lending has any records to prove I have a debt with them other than a simple contract I demand to see the official book entry from the bank to see who actually funded this mortgage loan. 

3-303. VALUE AND CONSIDERATION.

Primary tabs ( a ) An instrument is issued or transferred for value if : ( 1 ) the instrument is issued or transferred for a promise of performance, to the extent the promise has been performed ; ( 2 ) the transferee acquires a security interest or other lien in the instrument other than a lien obtained by judicial proceeding ; ( 3 ) the instrument is issued or transferred as payment of, or as security for, an antecedent claim against any person, whether or not the claim is due ; ( 4 ) the instrument is issued or transferred in exchange for a negotiable instrument; or ( 5 ) the instrument is issued or transferred in exchange for the incurring of an irrevocable obligation to a third party by the person taking the instrument.

( b ) " Consideration '' means any consideration sufficient to support a simple contract. The drawer or maker of an instrument has a defense if the instrument is issued without consideration. If an instrument is issued for a promise of performance, the issuer has a defense to the extent performance of the promise is due and the promise has not been performed. If an instrument is issued for value as stated in subsection ( a ), the instrument is also issued for consideration.

3-603. TENDER OF PAYMENT.

( a ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract.

( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an indorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates.

( c ) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument, the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument.

3-604. DISCHARGE BY CANCELLATION OR RENUNCIATION.

Primary tabs ( a ) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument ( i ) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party 's signature, or the addition of words to the instrument indicating discharge, or ( ii ) by agreeing not to sue or otherwise renouncing rights against the party by a signed record.

( b ) Cancellation or striking out of an indorsement pursuant to subsection ( a ) does not affect the status and rights of a party derived from the indorsement. 

( c ) As used in this section, " signed, '' with respect to a record that is not a writing, includes the attachment to or logical association with the record of an electronic symbol, sound, or process to or with the record with the present intent to adopt or accept the record.

Company response to consumer: Closed with explanation