Consumer complaint received 2018-08-10
Company: Experian Information Solutions Inc.
State: CA
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: Their investigation did not fix an error on your report

Complaint:
XXXX XXXX XXXX is still showing on my XXXX and EXPERIAN credit reports as a factoring company. To characterize my collection account as a factored account or to characterize XXXX XXXX XXXX as a factoring company is false representation. By claiming to be a factoring company, they are alleging that they purchased the debt when it was not in default, meaning they were an innocent purchaser. Factoring companies purchase receivables, not debt, and the bulk of the accounts are commercial, not consumer. 

For XXXX XXXX XXXX to state that it is a factoring company violates : 1692e ( 12 ) The false representation or implication that accounts have been turned over to innocent purchasers for value. XXXX XXXX XXXX are not innocent purchasers and not holders. 

1692e ( 10 ) The use of any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a consumer. The operand in this sentence is Any false statement. Any misleading statement. Any misrepresentation. A contradiction is inherently false or misleading and/or a misrepresentation. 

1692e ( 8 ) Communicating or threatening to communicate to any person credit information which is known or which should be known to be false. XXXX XXXX XXXX knows or should know that it is not an innocent purchaser and that it is not a holder. 

1692e ( 6 ) ( A ) The false representation or implication that a sale, referral, or other transfer of any interest in a debt shall cause the consumer to lose any claim or defense to payment of the debt. XXXX XXXX XXXX currently has a class action against them because in their affidavits attached to the complaint they claimed to be a " holder in due course. '' They are neither a " holder in due course '' ( abolished by US Congress in 1979 ) nor are they a " holder '' under state laws. They misrepresented the rights and remedies of the consumer and misled the judge as to the true nature of their relationship with the consumer. A judge, believing that the debt collector is a holder, would accept the affidavit as prima facie evidence of indebtedness, rather than what it truly is : Hearsay.

1692e ( 5 ) The threat to take any action that can not legally be taken or that is not intended to be taken. A non-holder can not legally sue as a holder.

1692e ( 2 ) ( A ) The false representation of the character any debt. The debt has been characterized as one that was not in default at the time of purchase.

1692e ( 2 ) ( A ) The false representation of the legal status of any debt. Reporting as a factoring company confers the legal stauts of holder upon the furnisher.

16922f A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. The use of factoring company is unfair as it deprives the consumer of rights, remedies and defenses and provides a false impression to current and potential lenders.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation