Consumer complaint received 2024-06-02
Product: Credit card — General-purpose credit card or charge card
Issue: Problem when making payments — Problem during payment process
Company: Atlanticus Services Corporation (WA)

I am writing to bring to your attention several serious violations of federal laws that have occurred in the handling of my financial transactions and accounts. This complaint draws on definitions and regulations outlined by the Federal Trade Commission ( FTC ), the Truth in Lending Act, and various sections of the U.S. Code. Below, I will delineate the pertinent definitions and regulations, followed by an explanation of the violations and my demands for remedy.

Definitions and Regulations Person : As per 16 CFR 433.1, a " person '' includes an individual, corporation, or any other business organization. This encompasses entities such as XXXX XXXX XXXX, XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Fortiva. 


Consumer : A natural person who seeks or acquires goods or services for personal, family, or household use. I, as the consumer, fall under this definition. 


Purchase XXXX XXXX : Defined as a cash advance received by a consumer in return for a finance charge under the Truth in Lending Act and Regulation Z, used substantially to purchase goods or services from a seller who refers consumers to the creditor or is affiliated with the creditor. 


Credit Card Issuer : A person who extends to cardholders the right to use a credit card in connection with purchases of goods or services. 


Creditor : A person who lends purchase money or finances the sale of goods or services to consumers on a deferred payment basis, provided such person is not acting as a credit card issuer for a particular transaction. 


Violations and Arguments Misrepresentation of Loan and Credit : The banks mentioned ( XXXX XXXX XXXX, XXXXXXXX XXXX XXXX XXXXXXXX XXXX XXXX, XXXX XXXX, and Fortiva ) have claimed to have loaned me money or extended credit. However, as per the definitions above, these entities have not provided actual loans or credit. It has been my credit and funds utilized, indicating a clear case of misrepresentation and deception. 


Fraud and Securities Violations : By asserting that they have extended credit and loans which they have not, these institutions have committed fraud and securities violations under 15 USC 1611 and various sections of 15 USC 1681 ( including 1681e, 1681g, 1681h, 1681n, and 1681o ).

Refusal of Legal Tender : On multiple occasions, my attempts to pay off my obligations with legal tender have been refused, violating UCC 3-603 and other relevant laws.

Violation of Powers and Duties : Under 12 USC 1431, banks are authorized to collect and settle checks, borrow money, accept deposits, and other related activities. However, they areprohibited from making loans on the security of their own stock ( 12 USC 83 ), which they have violated.

Failure to Provide Disclosure : Under 15 USC 6802, institutions must provide disclosures allowing consumers to opt-in or opt-out of furnishing their information to non-party affiliates. This was not provided to me, constituting a violation.

Incorrect Credit Reporting : Reporting late payments on open-end credit accounts without providing proper disclosures and options to consumers violates 15 USC 1666 . Additionally, the failure to properly address these issues constitutes discrimination under Regulation B ( 12 CFR 1002 ).

Demands for Remedy To rectify these violations, I demand the following remedies : XXXX Balance on Credit Cards : Immediate adjustment of all my credit card accounts to a XXXX balance, acknowledging that my tenders to pay down these accounts were valid and improperly refused. 


Removal of Late Payments : All late payment entries on my credit report must be removed, as they were inaccurately reported in violation of federal laws. 


Correction of Credit Report : All negative and derogatory comments must be expunged from my credit report. 


Disclosure of Opt-In/Opt-Out Options : Provide proper disclosures regarding my right to opt-in or opt-out of information sharing with non-party affiliates. 


Line of Credit : Provide me with a line of credit to support my household needs, acknowledging my right to consumer credit as defined by law. 


Failure to address and rectify these issues will leave me no choice but to pursue legal action or arbitration. I expect your prompt response and resolution to this matter. 


Please forward this letter to your legal team for review. I look forward to your explanation and resolution of these serious issues. 




Sincerely, XXXX XXXX XXXX