Consumer complaint received 2023-09-30
Company: NAVY FEDERAL CREDIT UNION
State: NY
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
I gave Notice of Subrogation, over the phone the other day to XXXX XXXX at NAVY FEDERAL. I love you all! Unjust enrichment is not fair nor equitable. Subrogation is a form of equity and subrogation is right, subrogation not an opportunity. Equity is recognize by the U.S. Constitution article 3 subsection 2 paragraph 1. I certify my right to subrogation and substitution. Being that I am the subrogee and the implied surety, I was not primarily liable for the debt but tendered all consideration but not a volunteer and performed under legal compulsion to discharge a debt by subrogee. I the subrogee is now entitled to benefit from all collateral which the creditor held as security ; and since I am secondarily liable, I am entitled to be subrogated to the rights of the creditor against the person primarily liable. Internal Revenue Service will be notified if the matter is not settled. This is unjust enrichment, and usurpation. A writ of quo warranto lies against you to prevent malversation and peculation. So, whenever a surety, or other person secondarily liable, discharges a debt, he is entitled to the benefit of all collaterals or liens which the creditor held as security, and the person secondarily liable is entitled to be subrogated to the rights of the creditor against the person primarily liable. Equity regards the payment by the surety, or other person secondarily liable, as equivalent to a purchase of the creditor 's rights, equities and collaterals as against the debtor primarily liable, ( Surety ) pays a debt, or discharges an encumbrance or lien, being under legal compulsion so to do, he will in Equity be substituted to all of the creditor 's rights against the person primarily liable. Where a surety discharges the debt or obligation of his principal Where any person, for his own protection, or the protection of some interest he represents, pays a debt for which another is primarily liable. Definitions from business guides dictionary of banking terms. Collateral means Asset pledged as security to ensure payment or performance of an obligation. In bank lending, it is generally something of value owned by the borrower. If the borrower defaults, the asset pledged may be taken and sold by the lender to fulfill completion of the original contract. Paper negotiable instruments and title documents. Security. Personal asset or property that can be pledged as collateral ; a good faith GUARANTY by a co-maker to pay an obligation if the borrower defaults. ( account was settled ) Equity. Value of stockholders ownership interest in a corporation after all claims have been paid, and thus a claim in its assets in proportion to the number, and class, of shares owned. Substitution. Replacement of one creditor by another, also known as subrogation. Subrogation. Substitution of one creditor for another in settlement of a claim or obligation, or transfer of ownership, as when a mortgage is sold in the secondary market. I love you all!

The two accounts numbers are xxxx xxxx xxxx XXXX xxxx xxxx xxxx XXXX

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