Consumer complaint received 2025-05-20 00:00:00
Product: Debt collection — Other debt
Issue: Took or threatened to take negative or legal action — Threatened or suggested your credit would be damaged
Company: CCS Financial Services, Inc.
State: GA

Complaint narrative:
I disputed an alleged debt with Credit Collection Services and there has no changes of such errors, only ignored. I sent out a debt notice of an alleged debt on XX/XX/year>XXXX  and I received no response to the notice, yet and still they are threatening to do major damages to my credit report. Nothing has changed. Ive requested documentations and it was ignored. 15 U.S.C. 1692g Validation of debts. Credit Collection Services has assumed that the alleged debt is verified and accurate but it is not. A complete and thoroughly authenticated investigation is needed. Searching public records and/or online doesnt validate a thorough authenticated detailed investigation with duly, honor, integrity or good faith in the ordinary course of business. Im disputing the validity of an alleged debt that is assumed that there is a debt or that one even exists at all. Ive requested documentations like, verification of the debt or a copy of a judgment against the consumer ( me ) and an authenticated copy of such verification. Im requesting from this unknown entity a forward flow agreement, chain of assignment, Documentation of Debt Transfer to see if the alleged debt has been sold or assigned to another party, documentation demonstrating the transfer and chain of ownership is needed, details of the alleged impaired collateral ( charged off ), details of the securitization transactions of the account, documentation showing the debt collectors ( Credit Collection Services ) has the legal right to purse the debt, an authentic copy of the original loan agreement unaltered displaying my signature, an authenticated record of an accounting ( explicitly ), and a statement of accounting pursuant to the UCC 9-210. 12 CFR 1024.36 requests for information, acknowledgement of receipt, response to the information thats being requested and investigate and respond to the claim. If Credit Collection Services can not produce these details explicitly, and prove to me that a debt doesnt exist or it does then we will be able to move forward, until then, all collections must cease and no more reporting until we get to the bottom line of whats really going on. If there is an alleged contract out there, the agreement was breached by the original holder, due to the conversion of the agreement into a security during the securitization without providing adequate notice to me pursuant to the Fair Credit Reporting Act ( FCRA ) and the Truth in Lending Act ( TILA ). These laws require lenders to provide consumers with relevant information concerning their loan agreement, especially the terms. Once the conversion has been established it moves to that is securities fraud. Credit Collection Services and the alleged original lender XXXX  actively participates XXXX  securitization. Adequate notices allows me to understand the implications of the securitization process, the nature and details of the transaction of the account, the terms of the loan, the rights of the new holder of the contract and any negative adverse actions impact on my credit report. 
Dont you think if consumers actually knew what is going on that they would agree to this? I sure dont. So, who really owns these loans if XXXX sells them to a trust, then the trust sells them to other third parties? From my research, XXXX  transfer the ownership of these loan agreements to a special purpose vehicle ( SPV ) pursuant to their prospectus. Through the securitization process, it allows XXXX to leverage off potential customers by using their existing customers receivables in paying off their debt obligations allowing them to free up more capital and mitigate risk so that they could make more loans by reaping all of the benefits. This here is a deceptive approach because they never recorded the borrower loan agreement on their double entry bookkeeping as a liability only assets are recorded. This is a breach of the agreement and false misrepresentation and fraud. What is the nature of the transaction when it comes to the account thats in questioning? Credit Collection Services has to bring evidence and proof that a debt really exists. They never validated anything to me and yet they remains on my report. I dont even know who these people are. I believe this debt doesnt exist. If it doesnt exist, delete your fraudulent corporation off my report immediately. The information was hidden from me which damaged and hurts me because of misleading, unfair and a deceptive practice this corporation is involved in. I was unaware of the changes in ownership and I am not protected from these deceptive practices.

Company public response: Company can't verify or dispute the facts in the complaint
Company response to consumer: Closed with explanation