Consumer complaint received 2024-08-26
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Suttell, Hammer & White, P.S (CA)

Dear Consumer Financial Protection Bureau this correspondence is in regard to XXXX. XXXX continues to use unfair, deceptive and abusive acts and practices. I received a letter from XXXX with the Executive office Office of Consumer Advocacy. I would like to Advise XXXX XXXX and other at XXXX that it is with grave importance to follow the laws in which XXXX has expressly addressed in there governing documents and not on their own accord. According to XXXX prospectus XXXX states the following Federal laws include the Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Gramm-Leach-Bliley Act, the CARD Act and the Dodd-Frank Act. These and other state and federal laws and regulations require disclosures of the cost of credit, provide substantive consumer rights, prohibit discrimination in credit transactions, regulate the use of credit report information, provide financial privacy protections, require safe and sound banking operations, prohibit unfair, deceptive and abusive trade practices, restrict XXXX Banks ability to raise interest rates, and subject us to substantial regulatory oversight. The CFPB is authorized to prevent unfair, deceptive or abusive acts or practices and ensure consistent enforcement of laws so that all consumers have access to markets for consumer financial products and services that are fair, transparent and competitive. The CFPB has rulemaking and interpretive authority over federal consumer protection laws, as well as broad supervisory, examination and enforcement authority over large providers of consumer financial products and services, such as XXXXXXXX XXXX These and other state and federal laws and their implementing regulations require disclosures of the cost of credit, provide substantive consumer rights, prohibit discrimination in credit transactions, regulate the use of credit report information, provide financial privacy protections, require safe and sound banking operations, prohibit unfair, deceptive and abusive trade practices, restrict XXXX XXXX ability to raise interest rates and subject XXXXXXXX XXXX to substantial regulatory oversight. In my opinion since the prospectus states clearly that the CFPB is the governing body and no where in the prospectus does it mention XXXX, XXXX, XXXX or XXXX. In fact it is important to note that the term bureau means the Bureau of consumer Financial protection. It is a fact that the law states that XXXX, XXXX, XXXX, and XXXX are nothing more than assumed to be credit Bureaus and there is only one Bureau and that is the consumer financial protection Bureau. It is a fact that XXXX has opening admitted to committing aggravated identity theft. In the previous CFPB Complaint filed file # XXXX XXXX from the Executive Office of consumer Advocacy stated As of XX/XX/XXXX, we have taken the appropriate actions to prevent future contact regarding the status of the account. Please understand that taking this action does not relieve you of your responsibility to repay and may prevent us from notifying you of repayment assistance and options. On XX/XX/XXXX, your account charged off due to non-payment with a balance of {$4300.00}. Subsequently, on XX/XX/XXXX, your account has been placed with Suttell & Hammer, P.S. to assist in our collection efforts. You may contact XXXX XXXX at Suttell & Hammer, P.XXXX. at ( XXXX ) XXXX XXXX XXXXXXXX if you would like to discuss the details of your account. Should you have any questions or concerns, please contact me at ( XXXX ) XXXX, Monday through Friday, from XXXXXXXX XXXX. to XXXXXXXX XXXX., XXXX. Sincerely, XXXX Executive Office of Customer Advocacy Enclosures CC : CFPB XXXX sold this contract to Suttell & Hammer whom claim to be Attorneys At law. See XXXX XXXX Suttell & Hammer has stocked my neighbors, knocked on neighbors doors looking for me, banged on my door all hours of the morning, day and night!. I gave them a Cease and Desist but they still call me. In the two notices that I received from Suttell and Hammer it reads our client has authorized our firm to proceed with a lawsuit on the above reference account. You are hereby notified that, in filing suit, our client will incur costs and necessary disbursements. We intend to ask the court, on behalf of our client, for an awarded of court costs and disbursements incurred. This notice is pursuant to California Code of Civil procedure section 1033 ( b ) ( 2 ) in those cases where that section may be applicable. You are notified that the legal action, if filed, could result in judgment which could include the costs and necessary disbursements as allowed under applicable law if our client is legally found to be entitled to the same. This communication is an attempt to collect a debt. Any information obtained will be used for that purpose. We ask you to voluntarily comply with your obligation and make payment arrangements to fully comply with your obligation prior to the filling of the suit. Sutell & Hammer provided a CA XXXX Debt collector License No. XXXX I did a check through the CA XXXX the results turned up as not such number see Exhibit XXXX 15 U.S. Code 1692c - Communication in connection with debt collection Adebtcollector may not engage in any conduct the natural consequence of which is to harass, oppress, or abuse any person in connection with the collection of adebt. Without limiting the general application of the foregoing, the following conduct is a violation of this section : ( 1 ) The use or threat of use of violence or other criminal means to harm the physical person, reputation, or property of any person.

( 2 ) The use of obscene or profane language or language the natural consequence of which is to abuse the hearer or reader. 5 ) Causing a telephone to ring or engaging any person in telephone conversation repeatedly or continuously with intent to annoy, abuse, or harass any person at the called number. 15 U.S. Code 1692e - False or misleading representations Adebtcollector may not use any false, deceptive, or misleading representation or means in connection with the collection of anydebt. Without limiting the general application of the foregoing, the following conduct is a violation of this section : ( 1 ) The false representation or implication that thedebtcollector is vouched for, bonded by, or affiliated with the UnitedStatesor anyState, including the use of any badge, uniform, or facsimile thereof. ( 2 ) The false representation of ( A ) the character, amount, or legal status of anydebt ; or ( B ) any services rendered or compensation which may be lawfully received by anydebtcollector for the collection of adebt.

( 3 ) The false representation or implication that any individual is an attorney or that anycommunicationis from an attorney.

( 4 ) The representation or implication that nonpayment of anydebtwill result in the arrest or imprisonment of any person or the seizure, garnishment, attachment, or sale of any property or wages of any person unless such action is lawful and thedebtcollector orcreditorintends to take such action.

( 5 ) The threat to take any action that can not legally be taken or that is not intended to be taken.

( 6 ) The false representation or implication that a sale, referral, or other transfer of any interest in adebtshall cause theconsumerto ( A ) lose any claim or defense to payment of thedebt ; or ( B ) Become subject to any practice prohibited by this subchapter.

( 7 ) The false representation or implication that theconsumercommitted any crime or other conduct in order to disgrace theconsumer.

( 8 ) Communicating or threatening to communicate to any person credit information which is known or which should be known to be false, including the failure to communicate that a disputeddebtis disputed.

( 9 ) The use or distribution of any writtencommunicationwhich simulates or is falsely represented to be a document authorized, issued, or approved by any court, official, or agency of the UnitedStatesor anyState, or which creates a false impression as to its source, authorization, or approval.

( 10 ) The use of any false representation or deceptive means to collect or attempt to collect anydebtor to obtain information concerning aconsumer. ( 13 ) The false representation or implication that documents are legal process. ( 14 ) The use of any business, company, or organization name other than the true name of thedebtcollectors business, company, or organization. ( 16 ) The false representation or implication that adebtcollector operates or is employed by aconsumerreporting agency as defined bysection 1681a ( f ) of this title. 15 U.S. Code 1692f - Unfair practices Adebtcollector may not use unfair or unconscionable means to collect or attempt to collect anydebt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:6 ) Taking or threatening to take any nonjudicial action to effect dispossession or disablement of property if ( A ) there is no present right to possession of the property claimed as collateral through an enforceable security interest ; 15 U.S. Code 1692j - Furnishing certain deceptive forms ( a ) It is unlawful to design, compile, and furnish any form knowing that such form would be used to create the false belief in aconsumerthat a person other than thecreditorof suchconsumeris participating in the collection of or in an attempt to collect adebtsuchconsumerallegedly owes suchcreditor, when in fact such person is not so participating.

( b ) Any person who violates this section shall be liable to the same extent and in the same manner as adebtcollector is liable undersection 1692k of this titlefor failure to comply with a provision of this subchapterXXXX  this complaint shall also serve as your notice of copyright infringement please see XXXX XXXX  pursuant to 18 U.S.C. 1028A. You have knowingly transferred, possessed, or used, without lawful authority, a means of identification of me, which is a felony punishable with up to 2 years of imprisonment, in addition to civil liability. I did not receive a receive a 1099C or a 1099B. Per the law for any account to be transferred a UCC3 lien is supposed to be signed for each transfer. Whom is forging my signature on these documents? I have not received a UCC Lien from XXXX 
It is a fact that according to 15 US Code 1681 Congress made the following findings ( 1 ) The banking system is dependent upon fair and accuratecreditreporting. Inaccuratecreditreports directly impair the efficiency of the banking system, and unfaircreditreporting methods undermine the public confidence which is essential to the continued functioning of the banking system. ( 2 ) An elaborate mechanism has been developed for investigating and evaluating thecreditworthiness, creditstanding, creditcapacity, character, and general reputation ofconsumers. ( 3 ) Consumerreporting agencies have assumed a vital role in assembling and evaluatingconsumercreditand other information onconsumers. It is evident that credit reporting agencies assumed the role while Congress appointed solely appoint the Consumer Financial protection Bureau this role which in turns makes XXXX, XXXX, XXXX and XXXX third-party non-affiliated parties. It is a fact that pursuant to 15 Us code 1692a Defintions ( 1 ) The term Bureau means the Consumer Financial Protection Bureau. 15 US code 1681 ( 3 ) ( e ) ( e ) The term investigation consumer report means a consumer report or portion thereof in which information on a consumer character, general reputtation, personal characterists, or mode of living is obtained through personal interviews with neighbors, friends, or associations of the consumer reported on or with others with whom he is acquainted or who may have knowledge concerning any such items of information. XXXX stated that they will continue to report the account disputed unless I tell them to stop. XXXX this is your Notice to stop reporting the account as disputed. Cease and Desist reporting the account as disputed. Cease and Desist reporting any and all adverse action. Cease and Desist reporting transaction history. On page XXXX of the XXXX page it states Credit reporting. We may report information about your account to credit bureaus. SEE EXHIBIT XXXX XXXX XXXX See Exhibit XXXX XXXX XXXX  It states we also collect your personal information from other, such as credit bureaus Please advert your attention over to XXXX XXXX XXXX privacy statement. # XXXX of XXXX XXXX  states the follow : Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your person information. What XXXX failed to disclose is as follows : pursuant to 15 usc 1635 Right of rescission as to certain transactions ( a ) Disclosure of obligors right to rescind Except as otherwise provided in this section, in the case of any consumer credit transaction ( including opening or increasing the credit limit for an open end credit plan ) in which a security interest, including any such interest arising by operation of law. In accordance with regulations of the Bureau, of his intention to do so. Thecreditorshall clearly and conspicuously disclose, in accordance with regulations of the Bureau, to any obligor in a transaction subject to this section the rights of the obligor under this section. Thecreditorshall also provide, in accordance with regulations of the Bureau, appropriate forms for the obligor to exercise his right to rescind any transaction subject to this section. ( 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. Within 20 days after receipt of a notice of rescission, thecreditorshall return to the obligor any money. XXXX this correspondence shall serve as my rescission. I hereby rescind, revoke remove terminate and void my consumer credit transaction with XXXX. and shall take any action necessary or appropriate to reflect the termination of any security interest created under the transaction. If thecreditorhas delivered any property to the obligor, the obligor may retain possession of it. Upon the performance of thecreditors obligations under this section, the obligor shall tender the property to thecreditor, 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. XXXX I do fully intent to continue the use of credit with XXXX as credit is not a privilege but a right. Pursuant 12 CFR 1016.1 purpose and scope ( a ) Purpose. This part governs the treatment of nonpublic personal information about consumers by the financial institutions listed in paragraph ( b ) of this section. This part : ( 1 ) Requires a financial institution to provide notice to customers about its privacy policies and practices ; ( 2 ) Describes the conditions under which afinancial institutionmay disclosenonpublic personal informationabout consumers to non-affiliated third parties ; and ( 3 ) Provides a method for consumers to prevent afinancial institutionfrom disclosing that information to most non-affiliated third parties by opting out of that disclosure, subject to the exceptions in 1016.13, 1016.14, and 1016.15. ( b ) Scope. ( 1 ) This part applies only tononpublic personal informationabout individuals who obtain financial products or services primarily for personal, family, or household purposes. 12 CFR 1016.4 Initial privacy notice to consumers required. ( a ) Initial notice requirement. You must provide a clear and conspicuous notice that accurately reflects your privacy policies and practices to : ( 2 ) Consumer. A consumer, before you disclose any nonpublic personal information about the consumer to any non-affiliated third party. 12 CFR 1016.10 you must provide a clear and conspicuous notice to each of your consumers that accurately explains the right to opt out under that section. The notice must state : ( i ) That you disclose or reserve the right to disclose nonpublic personal information about your consumer to a non-affiliated third party ; ( ii ) That the consumer has the right to opt out of that disclosure; and ( iii ) A reasonable means by which the consumer may exercise the opt out right. ( 2 ) Examples ( ii ) Reasonable opt out means. You provide a reasonable means to exercise an opt out right if you : ( A ) Designate check-off boxes in a prominent position on the relevant forms with the opt out notice ; ( B ) Include a reply form together with the opt out notice that, in the case of financial institutions described in 1016.3 ( l ) ( 3 ) of this part, includes the address to which the form should be mailed ; ( C ) Provide an electronic means to opt out, such as a form that can be sent via electronic mail or a process at your Web site, if the consumer agrees to the electronic delivery of information ; or ( D ) Provide a toll-free telephone number that consumers may call to opt out. ( iii ) Unreasonable opt out means. You do not provide a reasonable means of opting out if : ( A ) The only means of opting out is for the consumer to write his or her own letter to exercise that opt out right; or ( B ) The only means of opting out as described in any notice subsequent to the initial notice is to use a check-off box that you provided with the initial notice but did not include with the subsequent notice. ( g ) Time to comply with opt out. You must comply with a consumer 's opt out direction as soon as reasonably practicable after you receive it. ( h ) Continuing right to opt out. A consumer may exercise the right to opt out at any time. ( i ) Duration of consumer 's opt out direction. ( 1 ) A consumer 's direction to opt out under this section is effective until the consumer revokes it in writing or, if the consumer agrees, electronically ( g ) Time to comply with opt out. You must comply with a consumer 's opt out direction as soon as reasonably practicable after you receive it. ( h ) Continuing right to opt out. A consumer may exercise the right to opt out at any time. ( i ) Duration of consumer 's opt out direction. ( 1 ) A consumer 's direction to opt out under this section is effective until the consumer revokes it in writing or, if the consumer agrees, electronically. XXXX lacked this disclosure statement. See XXXX XXXX XXXX XXXX  California Residents- Except as permitted by law, we will not share information we collect about you with non-affiliates or joint marketing partners while you are a resident of California . 16 CFR 313.6, 16 CFR 313.7, 15 US Code 1602 a consumer may revoke consent by subsequently opting out of future disclosures of non-public personal information. According to 15 US code 6809 Definitions : ( 4 ) Nonpublic personal information ( A ) The term nonpublic personal information means personally identifiable financial information ( i ) provided by aconsumerto afinancial institution ; ( ii ) resulting from any transaction with theconsumeror any service performed for theconsumer ; or ( iii ) otherwise obtained by thefinancial institution. ( 5 ) Nonaffiliated third party The term nonaffiliated third party means any entity that is not anaffiliateof, or related by common ownership or affiliated by corporate control with, thefinancial institution, but does not include a joint employee of such institution. XXXX XXXX XXXX XXXX states that XXXX collects social security numbers according to 5 US code 522a it shall be unlawful to give you social security number to anybody who is not government. And last time I checked XXXX is not government. But at any rate according to Regulation Z, 12 C.F.R. 1026.4 ( a ) 12 CFR 1002.2 ( h ) Consumer credit means credit extended to a natural person primarily for personal, family, or household purposes. ( k ) Credit card means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain money, property, or services on credit ( such as a social security number ). 12 CFR 1002.2 ( q ) Extend credit and extension of credit mean the granting of credit in any form ( including, but not limited to, credit granted in addition to any existing credit or credit limit ; credit granted pursuant to an open-end credit plan ; the refinancing or other renewal of credit, including the issuance of a new credit card in place of an expiring credit card or in substitution for an existing credit card ; the consolidation of two or more obligations ; or the continuance of existing credit without any special effort to collect at or after maturity ). I provided XXXX my social security number which is an instrument. A negotiable instrument which granted XXXX access to my unlimited Credit. The granting of my social security number was given by way of a credit card served as a transmitting utility that tendered an instrument for the credit transaction. Also according to regulation z thefinance charge is the cost of consumer credit as a dollar amount. It includes any charge payable directly or indirectly by the consumer and imposed directly or indirectly by the creditor as an incident to or a condition of the extension of credit. It does not include any charge of a type payable in a comparable cash transaction. Iffinancechargeincluded, there should be no late payments pursuant 15 USC 1605 ( a ) due Tofinancechargebringsumofallchargesso I can not be penalized for something that is already paid in full.

According to 15 U.S. Code 1666b, a creditor may not treat a payment on a credit card account under an open-end consumer credit plan as late for any purpose unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement is mailed or delivered to the consumer not later than 21 days before the payment due date. On page XXXX of the XXXX XXXX it states you due date is at least 25 days after the close of each billing period ( at least 23 days for billing periods that being in XXXX ) SEE XXXX XXXX XXXX  XXXX XXXX has not sent any statements in the mail to me in over a year. Therefore XXXX has not given me any reasonable measures as a consumer to pay. According to Whenever a credit balance in excess of {$1.00} is created in connection with a consumer credit transaction through ( 1 ) transmittal of funds to acreditorin excess of the total balance due on an account, ( 2 ) rebates of unearnedfinance chargesor insurance premiums, or ( 3 ) amounts otherwise owed to or held for the benefit of an obligor, thecreditorshall ( A ) credit the amount of the credit balance to the consumers account ; ( B ) refund any part of the amount of the remaining credit balance, upon request of the consumer; and ( c ) make a good faith effort to refund to the consumer by cash, check, or money order any part of the amount of the credit balance remaining in the account for more than six months, except that no further action is required in any case in which the consumers current location is not known by thecreditorand can not be traced through the consumers last known address or telephone number. This same statement is written on the XXXX Bill. This lets me know that this balance on the account is owed to me see XXXX XXXX XXXX XXXX. It is also important to note that On XX/XX/XXXX, XXXX enacted XXXX XXXX to suspend the Gold standard and to abrogate the gold clause. This resolution declared that Whereas the holding or dealing in gold affects the public interest, and are therefore subject to proper regulation and restrictions ; and whereas the existing emergency has disclosed that provision of obligations which purport to give the oblige a right to require payment in gold or a particular kind of coin or currency are inconsistent with the declared policy of congress in the payment of debts. This resolution declared that any obligation requiring payment in gold or a particular kind of coin or currency or in an amount in money is against public policy and every obligation heretofore incurred shall be discharged upon payments dollar for dollar, in any coin or currency which at the time of payments is legal tender for public and private debts. Pursuant to 18 usc code 8 The term obligation or other security of the United States includes all bonds, certificates of indebtedness, national bank currency , Federal Reserve notes, Federal Reserve bank notes, coupons, United Statesnotes, Treasury notes, gold certificates, silver certificates, fractional notes, certificates of deposit, bills, checks, or drafts for money, drawn by or upon authorized officers of theUnited States, stamps and other representatives of value, of whatever denomination, issued under any Act ofCongress, and canceledUnited Statesstamps. Since XXXX Banks have warned against ultra vires acts. As we can see in XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX : Acceptance of time draft for customer 's benefit : Publicpolicy : Power to lend credit : Certified checks : Ultra viresacts : Estoppel : Statutes : Legislative construction : Weight : Costs : Disbursement for bond in garnishment.1. Acceptance by a bank of a draft payable in ninety days for the benefit of a customer without security or consideration is not within the description " buying, discounting and negotiating promissory notes, bonds, drafts, bills of exchange, foreign and domestic, and other evidences of debt, '' which by sec. XXXX  9, Stats. XXXX, THE BANK HAS POWER TO DO. XXXX. Under the power to negotiate THEIR OWN BILLS and drafts, banks have the power to indorse them, since that is the usual mode of transferring title to such paper. XXXX. A BANK HAS NO POWER to become the guarantor of another 's obligation without benefit to itself, unless expressly permitted by its charter or the governing statute. 4. There is no such similarity between certified checks and drafts payable at a future date that the authority given by sec. 2024 37, Stats. 1919, to issue certified checks implies the power to issue time drafts. 5. Though the courts finally determine the construction of statutes, the legislative construction thereof is entitled to consideration and often has great weight. 6. A CORPORATION CAN NOT COMMIT THE RANK INJUSTIC OF ENRICHING ITSELF BY RETAINING THE FRUITS OF A CONTRACT AND THEN REPUDIATING IT. By XXXX closing my account XXXX  is in violation of 16 CFR 433.2 Preservation of consumers ' claims and defenses, unfair or deceptiveactsor practices. In connection with any sale or lease of goods or services to consumers, in or affecting commerce as commerce is defined in theFederal Trade Commission Act, it is an unfair or deceptiveactor practice within the meaning of section 5 of thatActfor aseller, directly or indirectly, to : a ) Take or receive aconsumer credit contractwhich fails to contain the following provision in at least ten point, bold face, type : Notice ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS AND SERVICES OBTAINED PURSUANT HERETO AGAINST THE SELLER OF GOODS AND SERVICES OBTAINED PURSUANT HERETO OR WITH THER PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. It is a fact that XXXX is in violation because they did not contain this statement nowhere on the contract. This pertains to XXXX because according to the definitions in 16 CFR 433.1 ( b ) Consumer.A naturalpersonwho seeks or acquires goods or services for personal, family, or household use. I am the consumer and XXXX is the ( c ) Creditor.Apersonwho, in the ordinary course of business, lends purchase money or finances the sale of goods or services toconsumerson a deferred payment basis ; Provided, suchpersonis not acting, for the purposes of a particular transaction, in the capacity of acredit card issuer. ( d ) Purchase money loan.A cash advance which is received by aconsumerin return for a Finance Charge within the meaning of theTruth in Lending Actand Regulation Z, which is applied, in whole or substantial part, to a purchase of goods or services from asellerwho ( 1 ) refersconsumersto thecreditoror ( 2 ) is affiliated with thecreditorby common control, contract, orbusiness arrangement. ( f ) Contract.Any oral or written agreement, formal or informal, between acreditorand aseller, which contemplates or provides for cooperative or concerted activity in connection with the sale of goods or services toconsumersor the financing thereof. ( j ) Seller.Apersonwho, in the ordinary course of business, sells or leases goods or services to consumers. XXXX is not exempt for 16 CFR 433.1 and 16 CFR 433.2 because according to 16 CFR 433.3 This contract was made after XX/XX/XXXX. Per 12 CFR 1002.2 Definition Account means an extension of credit. When employed in relation to an account, the word use refers only to open-end credit. therefore, I must assert that by requiring me personally guarantee the application, XXXX has engaged in activities that could be construed as securities fraud. As I understand, the security interest I provided constitutes an obligation of the United States pursuant to 18 US code 8, effectively making it equivalent to cash. However, I have not received valuable consideration for these securities, and any minimal consideration provided does not suffice, as it may be an attempt to mask a gift as a contract. Upon reviewing your Indenture Trust Agreement and the 8-K and 10-K reports, Servicing Agreement, Transfer Agreement, ASB 15G, and the likes I noted that XXXX has transferred all rights, titles, interest in and to such receivables and/or collateral certificates, all recoveries with respect thereto, all monies due or to become due and all amounts received with respect thereto and all proceeds thereof to the XXXX Issuance Trust. Transferor hereby sells, transfers, assigns and otherwise conveys to the Trust for the benefit of the Certificateholders, without recourse, all right, title and interest of the Transferor in and to the Receivables existing as of the Effective Date and thereafter created ( which become the property of the Trust on a daily basis as they arise ), all monies due or to become due with respect thereto, and all proceeds of such Receivables. Additionally, the Transferor hereby sells, transfers, assigns and otherwise conveys to the Trust for the benefit of the Certificateholders, without recourse, all right title and interest of the Transferor in and to the Interchange for each Distribution Date and all proceeds of such Interchange. The Transferor does hereby further transfer, assign, set over and otherwise convey to the Trust for the benefit of the Certificateholders, without recourse, all of the Transferors rights, remedies, powers, privileges and claims under or with respect to the Receivables Sale and Contribution Agreement. The Transferor intends such sale, transfer, assignment and conveyance to be an absolute transfer of such property. However, because, and only because, of the possibility that such sale, transfer, assignment or conveyance may be deemed to be a pledge of such property, the Transferor does hereby grant to the Trust, for the benefit of the Certificateholders. 
In closing all funds I spent on my XXXX account, XXXX created this trust to deposit my receivables into said Trust as Trust assets. From what I can see, It appears that XXXX has transitioned my account status from account receivables to account payable, effectively making me an investors without my explicit consent.