Consumer complaint received 2022-06-22
Product: Debt collection — Credit card debt
Issue: Written notification about debt — Didn't receive notice of right to dispute
Company: Resurgent Capital Services L.P. (TX)

Today, XX/XX/XXXX, I received a text message from Resurgent Debt Collectors that my accounts with XXXX XXXX Bank was sold to their company for debt collections. I received a letter from XX/XX/XXXX, from the Office of Currancy in XXXX, Texas, that an investigation was completed. XXXX XXXX Bank stated that I was placed on a Legal No Call List as of XX/XX/XXXX. I was advised that I would not be contacted by XXXX XXXX Bank unless it was for legal purposes and that XXXX XXXX Bank advised that there would not be a settlement amount that can be offered for my two ( 2 ) accounts that I had previously sought to have closed prior to being charged-off and sold to a third-party collector. I did not receive any notifications or correspondence from XXXX XXXX Bank ( via U.S. Mail ) that my debt was being sold to another company, I did not receive any calls from XXXX XXXX Bank about what the finalized about was prior to being sold to Resurgent Bank. I believe this is considered to be an UNFAIR act under the UDAAP. I believe that I have suffered reasonable harm that XXXX XXXX Bank made and it is unavoidable due to their unwillingness to communicate and/or contact me to work out a plan for resolving the debt and getting the account closed prior to being charged off and sold. According to the Unfair Acts or Practices The standard for unfairness in the Dodd-Frank Act is that an act or practice is unfair when : ( 1 ) It causes or is likely to cause substantial injury to consumers ; ( 2 ) The injury is not reasonably avoidable by consumers ; and 1 Dodd-Frank Act, Title X, Subtitle C, Sec. 1036 ; PL 111-203 ( July 21, 2010 ).

2 Sec. 1031 of the Dodd-Frank Act. The principles of unfair and deceptive practices in the Act are similar to those under Sec.

5 of the Federal Trade Commission Act ( FTC Act ). The Federal Trade Commission ( FTC ) and federal banking regulators have applied these standards through case law, official policy statements, guidance, examination procedures, and enforcement actions that may inform CFPB.

3 Dodd-Frank Act, Secs. 1024 ; 1025 ( b ) ( 1 ) ; 1026 ( b ) of the Act.

CFPB Manual V.3 ( March 2022 ) UDAAP 1 CFPB Consumer Laws and Regulations UDAAP ( 3 ) The injury is not outweighed by countervailing benefits to consumers or to competition. 

I have been negatively impacted as a consumer due to XXXX XXXX Bank selling the debt to Resurgent Debt Collectors. The benefits of the account being resolved ( as previously requests ) has been taken away from me and solely benefitted XXXX XXXX Bank as well as Resurgent Debt Collection services. The unwillingness of XXXX XXXX Bank to settle the account as previously asked when the amount of the debt was roughly {$320.00} versus allowing late fees, over limit charges, interest and numerous fees to accumulate. The amount listed to Resurgent is well over {$800.00} now. XXXX XXXX Bank was allowed to charge the debt off ( to their benefit ) and now Resurgent Debt Collectors have purchased this debt ( for the profit ) as well since their debt purchase from XXXX XXXX Bank is not equivalent to the amount that is stated to be owed. 

Also, under Section 609 of the Fair Credit Reporting Act ; I was not allowed my rights to dispute the information that will be reported from XXXX XXXX Bank and the information reported from Resurgent Debt Collectors. 

Lastly, I would like to have a Validation fo Debts done for Resurgent Debt Collectors under the Fair Debt Collections Practices : 809. Validation of debts ( a ) Notice of debt ; contents Within five days after the initial communication with a consumer in connection with the collection of any debt, a debt collector shall, unless the following information is contained in the initial communication or the consumer has paid the debt, send the consumer a written notice containing -- ( 1 ) the amount of the debt ; ( 2 ) the name of the creditor to whom the debt is owed ; ( 3 ) a statement that unless the consumer, within thirty days after receipt of the notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid by the debt collector ; ( 4 ) a statement that if the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the debt collector will obtain verification of the debt or a copy of a judgment against the consumer and a copy of such verification or judgment will be mailed to the consumer by the debt collector ; and ( 5 ) a statement that, upon the consumer 's written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the original creditor, if different from the current creditor.