Consumer complaint received 2023-01-18
Company: Velocity Portfolio Group
State: IL
Product: Debt collection
Sub-product: Credit card debt
Issue: False statements or representation
Sub-issue: Indicated you were committing crime by not paying debt

Complaint:
Dear Consumer Financial Protection Bureau, I am writing to file a complaint against CKS Prime Investments LLC, a debt collector, and the original creditor, XXXX XXXX XXXX XXXX XXXX, for the illegal and unlawful collection and reporting of a debt that was charged off as an asset for the creditor. 

CKS Prime Investments has reported the debt as fully paid, despite the fact that it was legally considered an asset for the creditor with the charge-off. This act violates the Fair Credit Reporting Act ( FCRA ) 15 U.S.C. 1681s-2 ( a ) ( 4 ), which prohibits the reporting of debt as fully paid when it has been charged off. This act also violates the FCRA 15 U.S.C. 1681s-2 ( a ) ( XXXX ), which prohibits the reporting of a debt that is not legally enforceable against the consumer, intentionally hurting my XXXX XXXX with prejudice and without a legal contract with me from the inception of the debt with the original creditor ( XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX 

Additionally, CKS Prime Investments and the original creditor have violated the Consumer Financial Protection Act ( XXXX ) by collecting and reporting a debt that was charged off as an asset for the creditor. Specifically, this act violates the XXXX 's provisions on consumer protection, in particular, 12 U.S.C. 5531, which prohibits any act or practice that is unfair, deceptive, or abusive to consumers. 

Furthermore, CKS Prime Investments and the original creditor have violated the Truth in Lending Act ( TILA ) by not providing accurate and complete information about the debt and the terms of repayment. Specifically, they have violated XXXX 15 U.S.C. 1632 ( a ) by not providing accurate and complete information about the nature and terms of the debt, and XXXX 15 U.S.C. 1639 ( a ) by not providing accurate and complete information about the terms of repayment. 

Additionally, CKS Prime Investments and the original creditor have violated the Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) under the XXXX XXXX XXXX Reform and Consumer Protection Act by collecting and reporting a debt that was charged off as an asset for the creditor. This act violates XXXX 's provisions on consumer protection, specifically 12 U.S.C. 5531, which prohibits any act or practice that is unfair, deceptive, or abusive to consumers. 

I respectfully request that the Consumer Financial Protection Bureau investigates these violations, holds CKS Prime Investments LLC and XXXX XXXX XXXX  XXXX XXXX accountable, and requests them to submit a removal of this illegal, unlawful, and collection abuse from my credit report. I also request that these XXXX companies ask the reporting agencies to send me a corrected copy of my report upon deletion. 

Thank you for your attention to this matter. 

Sincerely, XXXX XXXX

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