Consumer complaint received 2025-12-02 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Deficiency balance after repossession
Company: NAVY FEDERAL CREDIT UNION
State: FL

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX Navy Federal Credit Union XXXX. XXXX XXXX XXXXXXXX XXXX XXXXXXXX Subject Dispute of Auto Loan Reporting and Demand for Validation Please note that this is a new investigation request and not a repeat complaint. This submission is being filed on the CFPB website as a separate and distinct matter, requesting a fresh review and response.

To Whom It May Concern : I am formally disputing the Navy Federal Credit Union auto loan currently being reported on my credit file. I previously submitted a dispute, and I am now requesting full validation, funding proof, and documentation of ownership because the information being reported appears inaccurate, incomplete, and unverifiable. 

Under the Fair Credit Reporting Act ( FCRA ), furnishers must only report information that is accurate, complete, and capable of being verified with original documentation. Navy Federal has not done so. 

Based on industry-standard lending practices involving warehouse lending, dealer floorplan financing, and chattel paper financing, it is unclear whether Navy Federal funded this loan using its own capital or whether my signed retail installment contract was used as collateral to obtain warehouse-line funding. 

Because of this, I am requesting the following : Proof that Navy Federal used its own capital to originate this loan, and did not borrow against, pledge, or monetize my signed chattel paper in any warehouse lending facility or credit line. 

Proof of actual consideration, including evidence of funds transferred from Navy Federal to the dealer at the time of origination. 

Full chain of assignment, identifying whether the contract was sold, assigned, securitized, pledged, or transferred after origination. 

The original wet-ink signed contract, not a reproduction, along with a sworn statement showing the location of the original collateral file. 

The ledger confirming Navy Federal still carries this account as a receivable, proving current ownership and financial interest.

Copies of all custodial, warehousing, or repurchase agreements associated with this account, if applicable.

If any portion of this debt has been assigned, pledged, or funded through another entity, then Navy Federal can not claim to be the creditor of record and can not continue reporting this account as an active debt owed to them. 

If Navy Federal can not verify funding, ownership, and consideration with original documentation, then continued reporting violates : FCRA 15 U.S.C. 1681e ( b ) FCRA 15 U.S.C. 1681i FTC Credit Practices Rules UCC Article 9 concerning chattel paper and secured interests Furthermore, I am requesting a full and detailed accounting ledger for this loan. This includes a clear record of the original funding source, the chain of assignment, and any transactions that have taken place since the loans origination. Under the Fair Credit Reporting Act ( FCRA ), you are required to report only information that is accurate and fully verifiable. If you can not verify the funding source and ownership of this loan in compliance with the FCRA, you must immediately delete this tradeline from my credit report. 

Please be aware that this is a new investigation filed through the CFPB, and I expect full compliance with their oversight. This is not a repeat complaint but a distinct and separate request for verification. 

Please respond within the required timeframe with the documents requested or remove this account entirely. 

Sincerely, XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief