Consumer complaint received 2023-02-16
Company: Continental Finance Company, LLC
State: OH
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
Celtic/Cont  Account Number : XXXX This letter is to inform Celtic/Cont that their actions have violated 15 U.S.C. 1681, 15 U.S.C. 6801, and 15 U.S.C 6802. This has severely affected my ability to obtain credit and is affecting my ability to buy a home for my family. They have violated my rights by violating the FCRA laws. They have violated the 15usc 6802 which states the Creditor is required by law to provide 3 disclosures when extending credit which was never provided. 15 U.S.C.1682 ( B ) states : ( b ) Opt-out ( 1 ) In general A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless ( A ) the such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option.

There were no disclosures provided. They did not provide any disclosure notifying me that I have the option to OPT Out of having my information shared.

They also violated 15usc 1681 ( a ) ( 2 ) which states : An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity, character, and general reputation of consumers.-This information isn't accurate and needs to be removed from my report.

They violated 15 USC 6801 states:15 U.S.C. 6801 establishes the policy that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of customer information. It also prohibits obtaining customer information of a financial institution by false pretenses.-They did not protect my personal information by disclosing my information to the credit agencies.

Also, The IRS defines a charge-off as gross or ordinary income. Income doesn't get reported on your consumer report so why is this charge-off being furnished as a debt and the IRS says it is income which makes this account inaccurate account and violates 15usc 1681 ( e ) ( b ) -which states Accuracy of the report- Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure the maximum possible accuracy of the information concerning the individual about whom the report relates. And it also violates 15 USC 1681 ( s ) ( 2 ) which states : Duty to correct and update information A person who ( A ) regularly and in the ordinary course of business furnishes information to one or more consumer reporting agencies about the persons transactions or experiences with any consumer ; and ( B ) has furnished to a consumer reporting agency information that the person determines is not complete or accurate, shall promptly notify the consumer reporting agency of that determination and provide to the agency any corrections to that information, or any additional information, that is necessary to make the information provided by the person to the agency complete and accurate, and shall not thereafter furnish to the agency any of the information that remains not complete or accurate. 

This means this account needs to be deleted Immediately. I strongly demand Celtic/Cont to take immediate action to rectify these violations and ensure that they are compliant with all applicable laws and regulations in the future and delete this from my credit report Immediately.

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