Consumer complaint received 2024-09-05
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: TD BANK US HOLDING COMPANY (NY)

*NOTICE TO AGENT IS NOTICE TO PRINCIPLE NOTICE TO PRINCIPLE IS NOTICE TO AGENT I am writing to formally dispute the recent repossession of my vehicle and to request immediate resolution. The repossession appears to be in violation of several consumer protection laws, including the Truth in Lending Act ( TILA ), and involves issues of fraud, invalidity of the contract, and unauthorized towing by a third party. Additionally, I am concerned about the reporting of this matter on my consumer credit report. 

My vehicle was repossessed by a third-party tow truck company. The debt associated with this vehicle was previously forgiven, and the repossession, including the towing, appears to be legally invalid. Additionally, the tow truck company had no direct contract or connection with me and acted inappropriately.Furthermore, I am a parent with a XXXX and another one on the way. All of my XXXX XXXX belongings, including essential items for both my current child and the upcoming XXXX, were in the repossessed vehicle. The removal of these items has caused significant distress and hardship for my family, exacerbating an already challenging situation. 

Legal Violations and Requested Actions Truth in Lending Act ( 15 U.S.C. 1635 ) : Under TILA, I have the right to rescind the loan if it was fraudulently induced or if the terms were not properly disclosed. As the debt was forgiven, I am exercising my right to rescind the loan under TILA. Please consider this letter as my formal notice of loan rescission. The contract is therefore null and void. 

Uniform Commercial Code ( UCC ) - Article 9 : Under UCC Article 9, repossession and sale of collateral must adhere to specific procedures, including proper notice. If the debt was forgiven or deemed void, repossession is legally invalid. 

Fair Debt Collection Practices Act ( FDCPA ) ( 15 U.S.C. 1692 et seq. ) : This act prohibits unfair and deceptive practices by debt collectors. Attempting to collect on a forgiven debt and repossessing the vehicle violates these protections. 

False or Misleading Representations- 15 U.S.C. 1692e ( 4 ) : This section of the FDCPA prohibits debt collectors from misrepresenting the legal status of any debt or the legal rights of any party in relation to the debt. Attempting to repossess a vehicle for a debt that was legally forgiven involves false or misleading representations and is a violation of this section. 

Unfair Practices - 15 U.S.C. 1692f : This section of the FDCPA prohibits the use of unfair or unconscionable means to collect or attempt to collect any debt. Specifically, 15 U.S.C. 1692 ( 6 ) makes it unlawful for a debt collector to take or threaten to take property without a legal right to do so. The unauthorized repossession and towing of my vehicle, given that the debt was forgiven, constitutes an unfair practice under this section. 

New York State Law - Breach of Peace : Under New York law, specifically NY UCC 9-609, a secured party must not breach the peace during repossession. The forced removal of my vehicle by a tow truck company that had no direct contract with me constitutes a breach of the peace and is illegal. 

New York State Law - Unauthorized Towing : According to New York XXXX XXXX XXXX XXXX, only authorized parties with proper legal standing may tow a vehicle. A tow truck company without a valid contract or legal right to repossess the vehicle is acting outside the bounds of the law. 

Contract Law : Under common contract law principles, a contract is void if it involves fraud or if no actual consideration ( money or value ) was provided. Since no money was provided and the credit extended was fraudulent or invalid, the contract is null and void. This renders any repossession action legally baseless. 

Fraudulent Misrepresentation : If the initial terms of the contract were fraudulent or misleading, this can invalidate the contract. The repossession of my vehicle under such circumstances constitutes a further act fraud. 

Extortionate Collection of Debt - 18 U.S.C. 894 : This federal statute criminalizes the use of threats or violence to collect debts, including the unlawful taking of property. The forced repossession and towing of my vehicle by a third-party company, given that the debt was forgiven and no valid contract was in place, may constitute an extortionate practice under this statute. 

Reporting of Disputed Debt - 15 U.S.C. 1666b : This statute prohibits creditors from reporting a debt as late or delinquent if the debt has been disputed or is otherwise invalid. If any late payments related to this debt have been reported on my consumer credit report, this constitutes an illegal practice under this section, as the debt was forgiven and is no longer valid. 

Please furnish documentary evidence in accord with 15 U.S. Code 44 of record of accounts where TD Auto Finance XXXX XXXX XXXXXXXX awarded me, XXXX XXXX with any payment pertaining to this alleged debt. 
A True Bill. Notice. it is fact affiant is aware 15 U.S. Code 1637 ( b ) ( 2 } ( a ) refers to a request to resolve a billing error by providing all documentary evidence for clarification of who funded this account and whose obligation it is to pay this alleged debt on this account. Account # XXXX Until then TD Auto Finance can not report late payments in accordance with the regulations of the Bureau 12 CFR 1026.13 ( d ) ( 3 ). 
Pursuant to 15 U.S. Code 1666 ( e ) Requested Actions Given the above legal violations, the fraudulent nature of the contract, unauthorized towing, and my request for loan rescission, I request the following actions : Immediate Return of the Repossessed Vehicle : As the repossession was conducted illegally, the contract is void, and the towing was unauthorized, I request the immediate return of my vehicle, including all of my baby 's belongings that were in the vehicle. 

XXXX XXXX XXXX Efforts : Please stop any further attempts to collect on the forgiven debt, including any potential sale or additional charges related to this matter. 

Formal Rescission of the Loan : Consider this letter as formal notice of rescission of the loan under the Truth in Lending Act. The contract is void, and all obligations under it are canceled. 

Correction of Credit Reporting : Ensure that any inaccurate or illegal reporting of this debt as late or delinquent is immediately corrected with all credit reporting agencies. Provide written confirmation that such corrections have been made. 

Written Confirmation : Provide written confirmation that the debt was forgiven, the loan has been rescinded, the contract is void, and that no further actions will be taken regarding this matter. 

Compensation for Damages : Provide compensation for any damages incurred as a result of the wrongful repossession, unauthorized towing, and incorrect reporting of this debt. The distress and inconvenience caused by losing access to essential baby items during this difficult time must be acknowledged and addressed. 

Please address this issue urgently. Failure to resolve this matter satisfactorily may result in further legal actions.