Consumer complaint received 2022-01-31
Company: Exeter Finance Corp.
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Changes in terms mid-deal or after closing

Complaint:
Due to the nature of our relationship, I sent a letter to Exeter Finance ( XXXX XXXX XXXX XXXX, TX ) as well its C.E.O. XXXX XXXX ( Location : XXXX XXXX XXXX XXXX XXXX, XXXX TX ), received on or about XX/XX/2022 ( letter, and proof of mailing attached ) in which I requested the housing location of my original promissory note that I endorsed as a consumer as I have reason to believe it is being traded for proceeds. 
Exeter Finance responded with a copy of my promissory note stating that they believe the debt to be valid. Exeter Finance failed to directly, and reasonably respond to my request as I did not inquire about the validation of the alleged debt. On XX/XX/2022. I called Exeter Finance at XXXX ( Recording of call attached ). In the attached recording the representative stated that he could not tell me and did not know the location of where my original promissory note was housed. This leads me to believe that Exeter Finance is no longer the holder in due course of the original instrument. If this is fact, then I am not legally obligated to pay the alleged debt I allege that I may not be obligated to pay the debt because Exeter Finance has hypothecated, traded, securitized, or monopolized any form of that original promissory note/application. 

Provide me with the exact location of that original instrument. If you can not, then I am alleging that Exeter Finance is no longer a holder in due course and I am now making my claim to the instrument and I revoke and rescind all prior negotiations and demand the title to the automobile, Manufacturer Certificate of Origin, and all proceeds to be returned to me in accordance with U.C.C. 3-306, U.C.C. 3-603b, and 15 U.S.C.1692h. 

If Exeter Finance no longer has the instrument, then I no longer have an obligation to pay the debt. If the location of the original debt instrument can not be provided, then I allege that Exeter Finance is not a holder in due course to even make a claim on the instrument. 

Provide evidence with an affidavit under penalty and perjury in the next XXXX  days otherwise cease and desist all forms of communication on collection. 

I as the consumer was never given full disclosure of all of the facts regarding the use of my promissory note as well as the fitness, performance, and attributes of the account and therefore have the right of rescission pursuant to 15 U.S.C. 1635 as it has caused XXXX  anguish and XXXX instability. 

In accordance to U.C.C. 3-603b, this is my tender of payment of obligation to pay an instrument made to you to discharge the instrument for the full satisfaction of claim there to the exact amount of debt you say that I owe is now set off if you can not prove that I owe it and refund me all prior payments excluding the first payment. 

Also attached is a certified copy of a XXXX. XXXX research report from Georgia 's Secretary of State, further proving that I am not obligated to pay the alleged debt as debt must be recorded with the Secretary of State to be valid.

Company response to consumer: Closed with explanation