Consumer complaint received 2022-03-22
Company: Fig Tech Inc.
State: TX
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Difficulty submitting a dispute or getting information about a dispute over the phone

Complaint:
In regards to Fig Tech account XXXX. 

Fig Loans ( different from Fig Tech? ) began contacting me on XX/XX/XXXX asking me to make payments on a debt that I know nothing about, and does not belong to me. I responded to the text message " stop '', to which I got confirmation. Then, on XX/XX/XXXX, I got another identical text message from a different number, to which I replied " stop ''. Opt-out is to take effect immediately, and subsequent messages after confirmation of opting-out are a violation of the TCPA and subject to damages of $ XXXX {$1500.00} per text message. Fig Loans sent two additional messages. 

1st Violation : TCPA via 47 USC 227 - supported by court case precedent of XXXX v. XXXX XXXX ( XXXX ) and others. 

I have never been contacted by Fig Loans before these messages, and FDCPA requires creditors : Within five days after the initial communication with a consumer in connection with the collection of any debt, a debt collector shall, unless the following information is contained in the initial communication or the consumer has paid the debt, send the consumer a written notice containing -- ( 1 ) the amount of the debt ; ( 2 ) the name of the creditor to whom the debt is owed ; ( 3 ) a statement that unless the consumer, within thirty days after receipt of the notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid by the debt collector ; ( 4 ) a statement that if the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the debt collector will obtain verification of the debt or a copy of a judgment against the consumer and a copy of such verification or judgment will be mailed to the consumer by the debt collector ; and ( 5 ) a statement that, upon the consumer 's written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the original creditor, if different from the current creditor. 
The messages that I received are missing details 1, 3, 4, and 5. Detail 2, is in question, and will be addressed below. I have received not other contact or details to date. 

2nd Violation : FDCPA via 15 USC 1692g Upon further investigation in to my credit report, I see a " Fig Tech '', but I am being contacted by Fig Loans. This lends to question as to who the alleged creditor is. This is deceptive, and misleading. 

3rd Violation : 15 USC 1692e Neither Fig Tech, nor Fig Loans has a surety bond in the state of Texas.

4th Violation : Section 392.101 of the Texas Finance Code prohibits a third-party debt collector or credit bureau from engaging in debt collection in Texas unless the third-party debt collector or credit bureau has obtained a surety bond and filed a copy of the bond with the Office of the Secretary of State. 

Fig Tech is not a Licensed Regulated Lender, nor a Credit Access Business in the State of Texas. 

5th Violation : FINANCE CODE TITLE 5. Sec. 393.101.

FCRA requires that furnishers establish policies and procedures to ensure accuracy and integrity of information. Fig Tech is reporting this account as being opened on XX/XX/XXXX to XXXX, XX/XX/XXXX to XXXX, and XX/XX/XXXX to XXXX. In addition, the date of last activity is being reported as XX/XX/XXXX to XXXX, XX/XX/XXXX to XXXX, and XX/XX/XXXX to XXXX. Payment history is also being recklessly reported, showing no payment received to XXXX, payments received in XXXX and XX/XX/XXXX followed by late payments XXXX and charge off to XXXX, and payments in XXXX and XX/XX/XXXX with late payments XXXX to XXXX. Date of last payment is being reported to XXXX as XX/XX/XXXX, with no other last payment date. This is clearly predatory and deceptive, or negligent at best. 

6th Violation : 12 CFR Appendix E to Part 1022 - Interagency Guidelines Concerning the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies 7th Violation : Prohibition on Reporting Inaccurate Information. Section 623 ( a ) of the FCRA Finally, considering that Fig Tech or Fig Loans is very clearly violating my rights, and this disputed information is inaccurate and can not possibly be verified, I kindly ask that this account is promptly deleted from my credit report, and that any collection efforts cease entirely. 

I find it comical that between figtech.com and figloans.com, I see a mission that touts eradication of predatory financial systems, but the other is offering loans that have an APR of 199 %. They clearly don't have proper documentation processes in place, and they don't seem to care who's credit their false reporting is ravaging. This company is straight GASLIGHTING the public. 

If this is not resolved as per the law requirements, my next contact will be the FTC, XXXX, the attorney general, social media, and the media.

Company response to consumer: Closed with monetary relief