Consumer complaint received 2022-10-02
Company: Opportunity Financial, LLC
State: SC
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
RE : Investigation Request to Delete Credit Account Ending XXXX To whom it may concern : This letter is being sent to you in response to dispute requests to Opportunity Financial for FCRA violations. This is not an admittance that I owe the stated debt amount nor agree with the Open Date but rather exercising my right to challenge questionable information found on my personal credit reports. 

The Fair Credit Reporting Act ( FCRA ) is designed to protect the privacy of consumer report information and to guarantee that information supplied by consumer reporting agencies ( CRAs ) is as accurate as possible. 

If a creditor reports information about consumers to a CRA, they have legal obligations under the

FCRAs Furnisher Rule. Responsibilities include : 1.
Furnishing information that is accurate and complete, and 2. Investigating consumer disputes about the accuracy of information creditors provide.

3. The Federal Trade Commission, the Consumer Financial Protection Bureau, and the federal banking agencies have each published a Furnisher Rule.

When creditors provide information to a CRA, they have obligations under the FCRA to ensure the accuracy of the information they furnish. As a rule, it is illegal to report information that they know or believe is inaccurate. They have " reasonable cause to believe '' that information is inaccurate if they have knowledge that would lead a reasonable person to doubt the accuracy of the information.

Guidelines for Policies and Procedures : 1. Creditors must establish and implement written policies and procedures regarding the accuracy and integrity of information they furnish to a CRA.

2. Their policies and procedures must establish internal controls for the accuracy and integrity of information. Information should be substantiated when it is furnished.

3. If a creditor furnishes information to a CRA on a regular basis and determine that any information they provided is inaccurate or incomplete, they must promptly notify the CRA and provide corrections or additions. They can only furnish the correct information to the CRA. FCRA 623 ( a ) ( 2 ) ( B ) The FCRA requires that if they furnish any information to a CRA, they must include any of the following items that are applicable : If a CRA notifies the creditor that a consumer disputes information they provided, creditor must : 1. investigate the dispute and review all relevant information provided by the CRA about the dispute ; 2. report their findings to the CRA ; 3. provide corrected information to every CRA that received the information if their investigation shows the information is incomplete or inaccurate ; and 4. modify the information, delete it, or permanently block its reporting if the information turns out to be inaccurate or incomplete or can not be verified. FCRA 623 ( b ) ( 1 ) Creditors must investigate a consumers dispute if it relates to : 1. the terms of a credit account or other debt with the creditor.

2. the consumer 's performance or other conduct concerning an account or other relationship with the creditor or 3. any other information in a consumer report about an account or relationship with creditor that affects the consumer 's creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or lifestyle. Furnisher Rule 660.4 ( a ) Creditor must : 1. conduct a reasonable investigation 2. review all relevant information provided by the consumer 3. notify each CRA to which you provided inaccurate information if the investigation finds the information was inaccurate. Furnisher Rule 660.4 ( e ) In accordance with the Fair Credit Reporting Act Section 611 ( 15 U.S.C. 1681I ), I am practicing my right to challenge questionable information that I have found on my personal credit report.

1. Reporting false information to the credit bureaus has already resulted in defamation of my character and is negatively impacting my ability to get the best credit rates which I can prove in the court of law. 

2. A legal complaint was filed by Opportunity Financial in XXXX and dismissed in XXXX since the current creditor can not validate the correct Loan Origination Date and Outstanding Balance of the said loan ; therefore, this account can not be legally verified and needs to be removed from my credit report. See attached documentation. 

3. Opportunity Financial is reporting incorrectly and have been falsely verified by Opportunity Financial via CRA disputes. Reason for Dispute : Incorrect balances ( {$5000.00} ) and Original Open Date can not be verified due to variances in Loan Origination Dates : XX/XX/XXXX vs. XX/XX/XXXX ( See attached document with varying Loan Origination Dates ) 4. Leaving false information on my credit reports or parking an account is considered continued collection activity on an invalidated account and is an FCRA violation. Leaving or parking this false information on my credit reports is currently preventing me from getting the best rates on credit approvals.

5. As per an opinion letter published by the FTC, reporting the collection to the credit bureaus is considered continued collection activity. Opportunity Financial is continuing with violations of the FCRA for continuing to report invalidated and false debt information. 

6. With the new FCRA rules for debt collections regarding email communications in XXXX, I am receiving excessive amounts of emails each week from XXXX XXXX ( debt collector on behalf of Opportunity Financial ) which is considered continued collection activity on an invalidated account. From what I understand, the same rules apply as phone calls. I am receiving more than XXXX email per week and some of them have been sent after XXXX EST. ( See attached documentation ) I have disputed this inaccurate account balance and inaccurate Open Date with the consumer reporting agencies ( XXXX, XXXX, and XXXX XXXX ) using a Fair Credit Reporting Act dispute ( FCRA ) and it has been updated as verified by Opportunity Financial.

Company response to consumer: Closed with explanation