Consumer complaint received 2022-05-26
Company: OneMain Finance Corporation
State: IL
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:
I want to make an official documentation before my intent to sue on the basis TILA & FCRA violations and Defamation. I have sent several letters to this company. My first letter explains to them that I was insolvent, and I was not in position financially to continue to make payments. I bring only {$1500.00} a month and I suffer from XXXX which this company had triggered with their phone calls and trying to negotiate a lower payment with an insolvent individual which is bring stress on me. Which I am not in the position to pay anything or anyone. My next letter sent was explaining why I didnt received protection in the first place with a premium insurance protection which I found it was a violation by THEM and is mandate on the lender under TILA requirements. Per USC 1605 ( a ) ( 5 ) Premium or other charge for any guarantee or insurance protecting the creditor against the obligors default or other credit loss. When these violations were noted, I am within my right to rescind my contract and seek damages if possible. 15 U.S. Code 1635 - Right of rescission as to certain transactions ( b ) RETURN OF MONEY OR PROPERTY FOLLOWING RESCISSION When an obligor exercises his right to rescind under subsection ( a ), he is not liable for any finance or other charge, and any security interest given by the obligor, including any such interest arising by operation of law, becomes void upon such a rescission. Within 20 days after receipt of a notice of rescission, the creditor shall return to the obligor any money or property given as earnest money, down payment, or otherwise, and shall take any action necessary or appropriate to reflect the termination of any security interest created under the transaction. If the creditor has delivered any property to the obligor, the obligor may retain possession of it. Upon the performance of the creditors obligations under this section, the obligor shall tender the property to the creditor, except that if return of the property in kind would be impracticable or inequitable, the obligor shall tender its reasonable value. Tender shall be made at the location of the property or at the residence of the obligor, at the option of the obligor. If the creditor does not take possession of the property within 20 days after tender by the obligor, ownership of the property vests in the obligor without obligation on his part to pay for it. The procedures prescribed by this subsection shall apply except when otherwise ordered by a court. 
( f ) TIME LIMIT FOR EXERCISE OF RIGHT An obligors right of rescission shall expire three years after the date of consummation of the transaction or upon the sale of the property, whichever occurs first, notwithstanding the fact that the information and forms required under this section or any other disclosures required under this part have not been delivered to the obligor, except that if ( 1 ) any agency empowered to enforce the provisions of this subchapter institutes a proceeding to enforce the provisions of this section within three years after the date of consummation of the transaction, ( 2 ) such agency finds a violation of this section, and ( 3 ) the obligors right to rescind is based in whole or in part on any matter involved in such proceeding, then the obligors right of rescission shall expire three years after the date of consummation of the transaction or upon the earlier sale of the property, or upon the expiration of one year following the conclusion of the proceeding, or any judicial review or period for judicial review thereof, whichever is later.

The lender provided no disclosures for opting in or out for premium insurance or provided any disclosures on my rights to rescind on my contract that was witness and signed by me and/or their agent. Ensuring that I was properly protected on my rights and responsibility and vice versa. Providing printed documents without initials and/or signatures does constitute those individuals was properly educated on their disclosures. My rights under 15 U.S. Code 1691 is definitely being violate. I notify this lender in XX/XX/2022 and the account remain open, they are being deliberate in allowing the account to go into negative reporting status, the account remain in open status and knowing their practice they will discharge the account after so many months and note closed by creditor which is damaging my credit.

Company response to consumer: Closed with explanation