Consumer complaint received 2025-10-05 00:00:00
Product: Debt collection — Credit card debt
Issue: False statements or representation — Attempted to collect wrong amount
Company: Velocity Portfolio Group
State: OH

Complaint narrative:
AMENDED CFPB COMPLAINT NEW INFORMATION AND REGULATION Z VIOLATIONS Complainant : XXXX XXXX XXXX West XXXX XXXX XXXX, OH XXXX Email : XXXX Phone : XXXX Company Complained About : Velocity Investments , LLC Purpose of This Amendment This submission amends my prior complaint regarding Velocity Investments LLC.

I am providing new information and evidence showing violations of the Truth in Lending Act ( Regulation Z ), along with continuing violations of the Fair Debt Collection Practices Act ( FDCPA ) and related credit-reporting errors. 
Please treat this filing as an amended complaint, not a duplicate. 
Description of the Problem Velocity Investments , LLC is suing me in state court for {$7600.00}.

They are attempting to collect a debt that can not be validated because the original creditors documentation and credit reporting are fundamentally contradictory. 
Velocity has failed to provide consistent or reliable information identifying the true nature, terms, or amount of the alleged debt. 



Regulation Z ( Truth in Lending Act ) Violations The original creditor, XXXX XXXX XXXX XXXX XXXXXXXX XXXX violated Regulation Z ( 12 C.F.R. 1026 ) by issuing contradictory and misleading disclosures : The Truth in Lending Disclosure describes the account as a 35-month fixed installment loan. 
The XXXX XXXX XXXX XXXX XXXX XXXX defines it as a closed-end line of credit repayable over 36 months. 
Credit-bureau reports list it as an open-end line of credit with 1-month terms.

These conflicts violate 1026.17 ( c ) ( 1 ), which requires that disclosures accurately reflect the legal obligation between the parties. 
Because these disclosure errors affect the finance-charge calculation and payment schedule, the account was never properly originated under federal law. 

By collecting and litigating on this defective account, XXXX XXXX XXXX is compounding the Regulation Z violation and misrepresenting the legal status and character of the debt, contrary to FDCPA 1692e.

Key Contradictions That Make Validation Impossible 1. Misrepresentation of Product Type Velocitys validation includes a TILA disclosure for a XXXX installment loan, but the credit bureaus show it as a XXXX line of credit. 
These are legally distinct products with different disclosure and repayment rules. 
XXXX. Contradictory Contract Terms The Upgrade agreement clearly states : The Upgrade Card Personal Credit Line is a closed-end line of credit. 
Each advance is repayable over 36 months in substantially equal monthly payments. 
The credit limit will not be replenished as it would in an open-end line of credit. 
Yet the creditor reports it as open-end, contradicting its own contract. 
XXXX. Inconsistent Debt Amounts Velocitys lawsuit : {$7600.00} TILA Disclosure Total of Payments : {$10000.00} Credit reporting : {$7600.00} ( high balance ) and {$6900.00} ( written off ) No accounting has been provided to reconcile these figures. 
4. Mathematically Impossible Credit Reporting {$200.00} payments reduce balances by only {$98.00}.

Written-off amounts fluctuate without explanation.

Balances fail basic arithmetic consistency. 



Attempts to Resolve I have : XXXX. Sent multiple debt-validation requests to XXXX XXXX XXXX XXXX contradictions. 
XXXX. Received inadequate responses that ignored the misrepresentations. 
XXXX. Tried to resolve the dispute directly before litigation, without success. 

Despite this, Velocity continues to pursue the lawsuit and collection efforts.

Violations of Federal Law FDCPA Violations 1692g Failure to properly validate the debt due to contradictory and incomplete documentation.

1692e False representation of the character, amount, or legal status of the debt.

1692f Unfair and unconscionable collection of an unverifiable debt.

FCRA Concerns The original creditors inaccurate credit reporting forms the basis of Velocitys claims and perpetuates false information in consumer credit files.

Desired Resolution I respectfully request that the Consumer Financial Protection Bureau ( CFPB ) : 1. Require Velocity Investments LLC to dismiss its lawsuit until the debt can be properly validated.

2. Order Velocity to cease all collection activity on this account.

3. Require correction of inaccurate credit reporting tied to this debt. 
XXXX. Investigate this pattern of collection based on contradictory documentation. 
XXXX. Ensure full compliance with FDCPA, FCRA, and Regulation Z.

Supporting Documentation Lawsuit filed by Velocity Investments , LLC Validation letter and TILA disclosure provided by Velocity Credit reports showing contradictory reporting by the original creditor The Upgrade Card Personal Credit Line Agreement Payment history analysis demonstrating mathematical errors Correspondence with Velocity Conclusion This is not a dispute over dollar amounts it is a fundamental failure of debt validation and disclosure. 
Velocity can not prove what debt they own when the original creditor can not even describe its product correctly. 
No consumer should face litigation over such unverifiable and contradictory records. 



Respectfully submitted, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, OH XXXX Email : XXXX Phone : XXXX Date : XX/XX/scrub>XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation