Consumer complaint received 2024-11-16 00:00:00
Product: Debt collection — Credit card debt
Issue: Attempts to collect debt not owed — Debt is not yours
Company: AMERICAN EXPRESS COMPANY
State: FL

Complaint narrative:
I am filing this complaint against American Express due to their continued attempts to collect a debt that has been charged off. Their actions are in clear violation of multiple federal laws, including the Truth in Lending Act ( TILA ), Fair Credit Reporting Act ( FCRA ), and other relevant statutes. 

XXXX. Consideration Satisfied by Promissory Note Under the legal precedent set by XXXX XXXX XXXX, the promissory note I provided as part of the initial transaction constitutes sufficient consideration. As established in this case, promissory notes exchanged for credit fulfill the requirement for consideration, effectively funding the loan and satisfying the debt obligation. Therefore, any attempt by American Express to claim additional debt beyond this exchange of value is unfounded and constitutes a misrepresentation of the debt obligation. 

XXXX. Violation of Truth in Lending Act ( TILA ) - 15 U.S.C. 1662 Pursuant to 15 U.S.C. 1662, it is illegal for creditors to make false or misleading representations about the status of a debt. The continued assertion by American Express that I owe a debt despite the charge-off and satisfaction through consideration is a direct violation of this statute. The mutual exchange of value was fulfilled at the inception of the agreement through the promissory note provided, and thus, no further collection is warranted. 

15 U.S.C. 1662 : Prohibits creditors from misrepresenting debt obligations when the underlying debt has already been satisfied through consideration. 

XXXX. Violation of XXXX - 12 U.S.C. 5481 Under 12 U.S.C. 5481, unfair, deceptive, or abusive acts or practices ( XXXX ) are prohibited. By continuing to attempt collection on a charged-off account, American Express is engaging in deceptive and abusive practices. The charge-off indicates that the debt has already been written off as a loss by the creditor. Any attempt to collect on this " debt '' without providing clear and transparent documentation of the legal basis is inherently deceptive and misleading. 

12 U.S.C. 5481 : Defines unfair, deceptive, or abusive acts or practices. Claiming that I owe a debt after a charge-off is a clear violation of this statute. 

XXXX. Violation of Privacy and Data Sharing Rights - 15 U.S.C. 6802 & 15 U.S.C. 6801 I formally opt out of any and all authorizations I may have previously givenwhether written, unwritten, verbal, or non-verbalunder 15 U.S.C. 6802. I hereby revoke any consent to share my personal information, financial data, and transaction history without my express written consent. 

Additionally, under 15 U.S.C. 6801, American Express has an obligation to respect the privacy of my non-public personal information. Any attempt to report transaction history or share my data without my consent is a violation of this obligation. 

15 U.S.C. 6801 : It is illegal to report transaction history without customer consent, mandating that financial institutions protect the privacy of their customers. 

XXXX. Contractual Rights as the XXXX, Investor, and Registered Owner As the XXXX, investor, and registered owner of the original account, I assert my XXXX rights to all interests, proceeds, dividends, and payouts associated with the account. The bank acted as a trustee, using my promissory note as the underlying asset to create loan proceeds. Thus, I retain the legal and XXXX rights over the account and its associated financial transactions. Any attempt by American Express to override my rights is a violation of federal law, including UCC 3-305 and TILA provisions. 

XXXX. Right to Redress and Remedy As provided under UCC Article XXXX, specifically UCC 3-305, I have the right to assert defenses and claims against unauthorized collection practices. As the holder in due course, I have legal standing to demand that all debts be settled in lawful money, as stipulated in 12 U.S.C. 411. XXXX XXXX  failure to honor this demand further violates my legal rights.

Company response to consumer: Closed with non-monetary relief