Consumer complaint received 2024-10-05 00:00:00
Product: Debt collection — Credit card debt
Issue: Took or threatened to take negative or legal action — Threatened or suggested your credit would be damaged
Company: Continental Finance Company, LLC
State: NY

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX Re : Account Ending in XXXX - Dishonor of Deposit To Whom It May Concern, I am writing in response to recent actions regarding my account ending in 3059 and the dishonor of a deposit related to this account. I must bring the following legal and regulatory points to your attention : HJR 192 and Public Law 73-10 Under HJR 192 and Public Law 73-10, passed in 1933, debts are no longer required to be paid in gold or other specific forms. Any obligations related to the dishonor of deposit should be viewed in light of these resolutions. This law provides a mechanism for discharge of debts and obligations. 

Banking Regulations and Truth in Lending According to Regulation Z under the Truth in Lending Act, lenders and financial institutions are required to provide clear and accurate disclosures regarding finance charges, terms, and conditions. I believe there has been a failure on your part to provide such information regarding this dishonor of deposit, which violates my rights as a consumer under these laws.

Duress and ETA Act I believe the actions surrounding the dishonor of my deposit and the mismanagement of this account have been taken under duress. Additionally, under the Electronic Transfer Act ( ETA ), unauthorized actions such as negative reporting may constitute further violations of my rights as a consumer.

Unauthorized Negative Reporting and the Fair Credit Reporting Act ( FCRA ) I further contend that your negative reporting to credit agencies regarding this matter was unauthorized, violating the FCRA and the provisions under 12 CFR 1861n, which governs accurate and fair reporting by financial institutions. As such, I request that any negative reporting be immediately rescinded and corrected.

Dishonor and Commercial Code Violations The dishonor of the deposit must also be viewed through the lens of several relevant provisions of the Uniform Commercial Code ( UCC ), including but not limited to : UCC 9-406 and 12 CFR 301 : Concerning assignment of accounts and handling of payments.

UCC 9-210 : Your obligation to provide an accounting or verification of my account.

UCC 3-409 and UCC 3-303 : Governing the dishonor of negotiable instruments, such as checks and deposits.

UCC 5-102 : Relating to the rights and obligations of the parties involved.

Rescission of Signature Given the circumstances and the failure to comply with the legal provisions mentioned above, I hereby rescind my signature and consent to the agreement relating to the dishonored deposit. I am exercising my right to rescind under UCC and related federal laws, as the agreement was entered into without the proper disclosure and under duress. 

Request for XXXX I request immediate correction of this dishonor and all associated negative reporting. If this matter is not resolved promptly, I reserve the right to pursue all legal remedies available under the applicable laws and regulations. Please provide written acknowledgment of this letter and the steps you are taking to rectify the situation within 14 days of receipt. 

Thank you for your prompt attention to this matter. 

without Prejudices by : XXXX XXXX, XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation