Consumer complaint received 2024-07-11
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 (TX)

On XX/XX/XXXX, TD RCS/XXXX  and XXXX entered into a credit agreement that included a mandatory arbitration clause, explicitly stating that any disputes would be resolved through arbitration administered by the XXXX XXXX XXXX XXXX XXXX XXXX and governed by the Federal Arbitration Act. 

In direct violation of this agreement, TD RCS/XXXX  sold my alleged debt to XXXX  XXXX  XXXX XXXX without my consent. This action has caused me significant harm, including severe damage to my credit score, emotional distress, and potential exposure to harassment by debt collectors. TD RCS/XXXX  willful disregard for our arbitration agreement and its decision to sell my account to a third-party debt collector have directly resulted in these damages, for which TD RCS/XXXX  is fully responsible. 

Despite the clear terms of our agreement, on XX/XX/XXXX I received a collection notice from XXXX XXXX XXXX XXXX, attempting to collect on the alleged debt originated by TD RCS/XXXX. This action is an inexcusable breach of our arbitration agreement, as it intentionally circumvents the agreed-upon dispute resolution process. 
Furthermore, TD RCS/XXXX  assignment of its rights and obligations under the agreement to XXXX XXXX XXXXXXXX XXXX XXXX XXXX consent is a further violation of our contract. Consequently, XXXX XXXX XXXX XXXX is vicariously liable for TD RCS/XXXX material breach. 
XXXX XXXX XXXX XXXX attempted collection is not only a breach of the arbitration agreement but also a blatant violation of the Fair Debt Collection Practices Act ( FDCPA ), which prohibits debt collectors from engaging in unfair, deceptive, or abusive practices, including the failure to honor contractual obligations such as arbitration agreements.

To address this unacceptable situation, I demand the following : 1. TD RCS/XXXXXXXX  and XXXX XXXX  XXXX XXXX XXXX XXXX cease all collection efforts and honor the binding arbitration agreement. 
XXXX. TD RCS/XXXX  must compensate me for the substantial damages caused by its breach of contract and the sale of my account, including but not limited to, any legal fees incurred, emotional distress, and harm to my credit score. 

XXXX. TD RCS/XXXX  and XXXX XXXX  XXXX XXXX must provide written confirmation within 5 days of receipt of this letter that they will honor the arbitration agreement, cease all collection efforts, and compensate me for damages. 
If I do not receive a satisfactory response within 30 days of the date of this letter, I will have no choice but to proceed with filing a claim against TD RCS/XXXX  and XXXX XXXX  XXXX XXXX per the terms of our arbitration agreement. This claim will seek to enforce the arbitration clause, address the material breach of contract, and pursue all available remedies for the significant damages caused by TD RCS/XXXX  actions. 

XXXX. XXXX XXXX XXXX XXXX has already been sued on TD RCS/XXXX  behalf XXXX or Around XX/XX/XXXX. The settlement agreement was reached on or around XX/XX/XXXX. 
XXXX. After such actions were taken against XXXX XXXX XXXX XXXX TD RCS/XXXX  still failed to mark the account disputed on my consumer report.