Consumer complaint received 2024-01-03
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Opportunity Financial, LLC (MD)

Please refer to ATTACHMENTS listed. I will be posting the bulk of my complaint for everyone to see since you all like to commit fraud in private. 

ATTN : Chief Financial Officer ; XXXX XXXX and Trustee ; XXXX XXXX Dear All, This debt was charged off by XXXX XXXX which is also considered to be a certificate of indebtedness ( 31 U.S Code 3104 ). Debt that is reported as charged off is considered ordinary income per the IRS publications ( see attachment ), thus, this income can NOT be reported on my credit report and must be removed. I am also suing for actual damages ( 15 U.S. Code 1681 ( n ) - Civil liability for willful noncompliance ) due to the fact that this charged off account has hindered me from obtaining any new credit and/or has made it very hard for me to get credit with low interest rates due to discrimination and XXXX XXXX willingly and knowingly continue to keep this listed on my account to ruin my reputation. What you will find is that according to 15 U.S Code 1681 ( a ) ( 4 ) ( b ) and 15 U.S. Code 1681s2 ( a ) ( b ) ( d ) XXXX  XXXX has not used reasonable procedures to protect ME, the consumer. This practice is in violation of the Fair Credit Reporting Act of XXXX aka FCRA. If you also take a look at the listed attachments you will see XXXX XXXX is currently being sued for my exact claim from other consumers due to predatorial lending practices, charging high fees, Deceptive marketing, AND abusive collection practices. This is probably the reason why XXXX XXXX all of a sudden chose to retire from her position as Chief Operations Officer and Executive Vice President on XX/XX/XXXX ( refer to form XXXX filed XX/XX/XXXX ). 
Now, let me draw your attention to something even more infuriating. XXXX XXXX not only is conducting predatorial lending practices, amongst many other things, but they have THE NERVE to be selling our securities on the secondary market. How did I receive a benefit of generating credit using my social security number ( card ) to lend myself money then you tell me I owe you + interest, then turn around and sell /trade my application ( aka my security )? Please refer below, as well, form XXXX, XXXX, section labeled investments in the attachments ). 
Investments Investment securities Debt securities that management has the positive intent and ability to hold to maturity are classified as held-to-maturity and recorded at amortized cost. Securities not classified as held-to-maturity are classified as available for sale and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income. The Company did not hold any available for sale securities at XX/XX/XXXX or XXXX. 

When the estimated fair value of a security is lower than the book value, a security is considered temporarily impaired. On a quarterly basis, the Company evaluates any securities in a loss position to determine whether the impairment is other-than-temporary. If there is intent to sell the security, or if the Company will be required to sell the security, or if the Company believes it will not recover the entire cost basis of the security, the security is other-than-temporarily impaired ( XXXX ) and impairment is recognized. The amount of impairment resulting from credit loss is recognized in earnings and impairment related to all other factors, such as general market conditions, is recognized in XXXX in the case of securities classified as available for sale. 

Management considers a number of factors in its analysis of whether a decline in a securitys estimated fair value is XXXX. Certain factors considered include, but are not limited to : ( a ) the length of time and the extent to which the security has been in an unrealized loss position, ( b ) changes in the financial condition of the issuer, ( c ) the payment structure of debt securities, ( d ) adverse changes in ratings issued by rating agencies, ( XXXX ) and the intent and ability of the XXXX to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. 

Purchased premiums and discounts on debt securities are amortized or accreted over the terms of the securities using the effective-yield method. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. 

You do the math. XXXX XXXX has been playing in our customers face since inception.