Consumer complaint received 2024-10-30
Product: Debt collection — Rental debt
Issue: Written notification about debt — Didn't receive enough information to verify debt
Company: Viking Client Services (MI)

Complaint Against : Viking Services ( Debt Collection Agency ) Complaint Type : Improper Debt Collection Practices Complaint Details : Failure to Provide Information on Insurance Claims and Bonds : Viking Services has attempted to collect an alleged debt without answering critical inquiries regarding whether any insurance claims or bonds were filed or paid to cover this debt. Under federal law, specifically the Fair Debt Collection Practices Act ( FDCPA ), debt collectors must operate transparently and disclose information about any payments or third-party interests affecting the debt. Viking Services refusal to confirm whether insurance proceeds have already covered this debt may indicate that it is attempting to collect a debt already satisfied through alternative means, a potential violation of 15 U.S.C. 1692e ( False or Misleading Representations ) and 15 U.S.C. 1692g ( Validation of Debts ). 

Failure to Accept Indorsement Without Recourse : Viking Services failed to accept an indorsed signature as payment for the debt " for full value without recourse. '' According to the Uniform Commercial Code ( UCC ), particularly UCC 3-419 ( Payment in Full ), a valid indorsement or tendered payment by the debtor must either be accepted or rejected with valid justification. Viking Services refusal to accept this indorsement may demonstrate non-compliance with UCC requirements on negotiable instruments, potentially rendering the debt satisfied or paid in full. This could lead to actionable claims of improper collection practices or failure to acknowledge legitimate debtor rights under UCC laws.

Potential Securities and SEC Violations : If Viking Services or any affiliated party has filed Uniform Commercial Code ( UCC ) financing statements, engaged in any securities trade, securitization, or has received any kickbacks related to this debt, these transactions must be disclosed under the Securities Act of 1933, 15 U.S.C. 77a et seq., and the Securities Exchange Act of 1934, 15 U.S.C. 78a et seq., both of which govern the offering and trading of securities. Further, the failure to disclose any securitization or generation of securities related to the debt may violate Securities and Exchange Commission ( SEC ) Rule 10b-5, which prohibits fraud, misrepresentation, and deceit in connection with securities transactions ( 17 CFR 240.10b-5 ). 

Request for Full Disclosure of Any Securitization, Insurance Claims, Kickbacks, or Trades : I request that Viking Services provide full disclosure regarding any securitization, insurance claims, kickbacks, or trades related to this debt, as these actions may have a direct impact on the validity and enforceability of the debt. Failure to disclose this information may constitute deceptive practices under federal law ( FDCPA ) and SEC regulations governing debt securities, collections, and disclosure. 

Potential Violations Include : 15 U.S.C. 1692e ( FDCPA ) False or Misleading Representations 15 U.S.C. 1692g ( FDCPA ) Validation of Debts UCC 3-419 Payment in Full via Indorsement 15 U.S.C. 77a et seq. ( Securities Act of 1933 ) Registration of Securities 15 U.S.C. 78a et seq. ( Securities Exchange Act of 1934 ) Securities Transactions Disclosure 17 CFR 240.10b-5 ( SEC Rule 10b-5 ) Prohibition Against Fraud in Securities Transactions Resolution Sought : I request that the CFPB take action to investigate Viking Services for their alleged improper collection practices and potential violations of federal debt collection laws, UCC provisions, and SEC regulations. I further request that Viking Services provide a full accounting of any insurance claims, securitizations, kickbacks, or trades related to this debt, as well as any financing statements or UCC filings that may affect the debts status. If this debt has already been satisfied through insurance or other means, I seek to have the collection activity ceased and any adverse information removed from my credit report.