Consumer complaint received 2024-01-02
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Volvo Car Financial Services U.S., LLC (TX)

I am writing to address several critical discrepancies and concerns regarding financial transactions with VOLVO CAR FINANCIAL, identified through an extensive review of relevant legal statutes and financial practices. The outlined issues require immediate attention and resolution : Misrepresentation and Legal Compliance : Discrepancies observed in contractual language referencing the Treaty of Paris of 1783 and the classification of Americans as " citizens. '' Lack of clarity regarding the compliance with Generally Accepted Accounting Principles ( GAAP ) and International Financial Reporting Standards ( IFRS ).

Financial Transparency and Reporting : Inadequate disclosure of disaggregated revenue by customer type pursuant to IFRS 15.114 and 115.

Absence of detailed information in contract liabilities, remaining performance obligations, and unrecognized revenue, as mandated by IFRS 15.120 ( b ).

Ambiguities in Contractual Clauses : Unilateral clauses and ambiguous terms such as " LATE CHARGE, '' " DEFAULT, '' " REPOSSESSION, '' and " YOUR RIGHT TO REDEEM '' demand clearer definition and explanation.

Securitization Practices and Alleged Violations : Allegations pointing to potential conflicts between securitization practices and adherence to US bankruptcy laws.

Accusations of fraudulent securitization practices and purported violations of federal statutes.

Legal Matters and Procedural Concerns : Concerns raised regarding unauthorized signature use, creation of trusts without consent, and suspected manipulation of financial records.

Lack of transparency leading to potential misinterpretation and misrepresentation in financial agreements.

Request for Equitable Relief : Urgent request for suitable remedies, including subrogation or equitable relief, to rectify perceived discrepancies and injustices.

Moreover, the following legal references and specific concerns warrant immediate attention : Procedural or Remedial Law : Implications and importance of the Alien Tort Statute ( ATS ) and Alien Tort Claims Act ( ATCA ), along with concerns about Sale Proceeds Transparency.

Borrowers ' Rights and Legal Recourse : Rights of borrowers to ensure accuracy of credit bureau information post-repossession and redemption rights provided in certain states.

Identified Violations and Offenses : Violations encompassing the Glass-Steagall Act, Offenses related to fraud, Phantom Fees, Falsified Income or Asset Information, Misleading Loan Terms, Identity Theft, Coercion or Undue Pressure.

Specific Legal Acts and Their Implications : References to crucial legal acts including the Alien Tort Statute, Securities Exchange Act of 1934, Equal Credit Opportunity Act ( ECOA ), Fair Debt Collection Practices Act ( FDCPA ), and 16 CFR Part 433.

I earnestly request a comprehensive investigation into these legal concerns and financial discrepancies, adhering strictly to applicable laws and regulations. Timely resolution and provision of requisite documentation are imperative.