Consumer complaint received 2024-09-14 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: CAINE & WEINER COMPANY, INC.
State: FL

Complaint narrative:
Subject : Formal Dispute of Debt Validation - Caine & Weiner To Whom It May Concern at the Consumer Financial Protection Bureau ( CFPB ), I am writing to formally dispute an alleged debt currently being reported by Caine & Weiner on my credit report. I believe this debt is not valid, and Caine & Weiner has failed to provide proper validation as required by law. Therefore, I am requesting your intervention to investigate and facilitate the removal of this collection account from my credit report.

Caine & Weiner has reported an account on my credit file ; however, I have reason to believe that the debt is either erroneous, has not been properly validated, or both. I have previously requested validation from Caine & Weiner, but the response did not meet the requirements as mandated by federal law, specifically under the Fair Debt Collection Practices Act ( FDCPA ) and Uniform Commercial Code ( UCC ).

Violations of FDCPA and UCC : Fair Debt Collection Practices Act ( FDCPA ) - Section 809 ( b ) ( 15 U.S.C. 1692g ( b ) ) : I requested a validation of the debt from Caine & Weiner. However, they failed to provide sufficient validation, such as the original signed contract and a full account statement detailing the calculation of the amount owed. The information provided by Caine & Weiner did not include a copy of the original creditor agreement that established this alleged debt, nor did it include a complete payment history that would substantiate the amount being claimed. Without this information, Caine & Weiner has not fulfilled its obligation under FDCPA to verify and validate the debt.

Uniform Commercial Code ( UCC ) - Article 9 : According to UCC, for a debt to be valid and collectible, there must be an authenticated record or an original contract demonstrating my explicit consent to this alleged debt. Caine & Weiner has failed to produce any such documentation. As per UCC 9-203, a secured party must have an authenticated security agreement for the debt to be enforceable. Caine & Weiner has not provided such documentation, thereby questioning the legitimacy of the claim.

Federal Trade Commission ( FTC ) Guidelines : Under the FTCs guidelines, the reporting of unverifiable debts to credit bureaus is a violation of the Fair Credit Reporting Act ( FCRA ). Caine & Weiner has continued to report this account on my credit file without providing adequate proof of the validity of the debt, thus violating the FCRA, which prohibits the reporting of inaccurate or unverifiable information.

Specific Requirements for Debt Validation : For Caine & Weiner to comply with federal and state laws, they must provide the following : Proof of Ownership : A document that proves Caine & Weiner 's right to collect on this alleged debt.

Original Creditor Documentation : A copy of the original signed agreement or contract from the original creditor that includes my signature.

Full Payment History : A detailed and complete payment history that shows how the amount was calculated and the alleged default.

Legal Proof of Transfer : Documentation that proves the legal transfer or assignment of the debt to Caine & Weiner, including a chain of custody.

Given that Caine & Weiner has failed to provide this information, I request that this collection account be removed from my credit report immediately. Reporting a debt that has not been adequately validated is in direct violation of the FDCPA, UCC, and FCRA. I urge the CFPB to investigate this matter and ensure that Caine & Weiner complies with all applicable laws.

I appreciate your attention to this matter and expect a prompt resolution in the form of removal of this account from my credit report.

Sincerely,

Company response to consumer: Closed with explanation