Consumer complaint received 2025-07-31 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: Continental Finance Company, LLC
State: IA

Complaint narrative:
CFPB XXXX XXXX XXXX XXXXXXXX Dear XXXX XXXX and Continental Finance Company : I am submitting this administrative rebuttal and escalation regarding the prior response received from Continental Finance Company in reference to a XXXX  XXXX account that I formally disputed. Their XX/XX/year> response constitutes a non-response under law, as it fails to satisfy 15 USC 1692g for proper debt validation, 15 USC 1681s-2 for accurate reporting, and raises serious concerns under UCC, mail fraud statutes ( 18 USC 1341 ), and consumer protection laws. 

I am now initiating the administrative process and respectfully request that the CFPB reopen and escalate my complaint for the following reasons : 1. Failure to Provide Legal Validation ( FDCPA 1692g ) The company sent billing statements and a copy of a cardholder agreement, but did not provide : A signed contract or original application with wet or verified e-signature ; A sworn affidavit under penalty of perjury affirming that they are the holder in due course ; A chain of custody or assignment agreement showing transfer from Celtic Bank to Continental Finance and then to XXXX XXXX XXXX ; Proof that the alleged debt was not securitized or XXXX through asset-backed securities ( UCC 3-305 , UCC 9-210 ) ; Any form of IRS Form XXXX or cancellation documentation despite claiming the debt was " charged off and sold. '' They failed to validate the debt lawfully, and instead attempted to verify it by submitting incomplete and potentially misleading records. This is insufficient and deceptive.

2. Potential Mail Fraud & False Credit Reporting ( 18 USC 1341 / FCRA ) Continental Finance stated that the account was sold to a third-party debt buyer ( XXXX XXXX XXXX XXXX XXXX and that collection efforts ceased. If so, they should have reported the account as sold/transferred with {$0.00} balance, not as an active charge-off with a remaining balance. 

Their continued credit reporting in this manner may constitute : Furnishing knowingly inaccurate information under FCRA ( 15 USC 1681s-2 ) ; Deceptive mail communications via XXXXXXXX XXXX XXXX ( 18 USC 1341 Mail Fraud ) ; Failure to correct or update tradeline after sale, in violation of FCRA and Metro 2 guidelines.

3. Administrative Demand for Lawful Proof of Claim I have lawfully requested the following and have not received a complete reply : Affidavit of Truth under Penalty of Perjury affirming their legal right to collect/report ; Proof of standing or holder in due course status ( UCC 3-302 ) ; Legal assignment/purchase agreement and proof of consideration ; Disclosure of securitization status ( XXXX  or pooling info ), if applicable.

By failing to produce these, they are now presumed in default of their claim under UCC 1-308, UCC 3-501 , and common law contract doctrines.

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