Consumer complaint received 2024-03-09 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: Mercedes Benz Financial Services
State: FL

Complaint narrative:
I hope this letter finds you well. 

I am writing to formally object to the denial and unauthorized sale of my securities by Mercedes-Benz Financial Services , as outlined in the prospectus, asset-backed securities, receivable purchase agreement, and pool and service agreement.On the XXXX of XXXX, XXXX, I entered into a consumer credit transaction for the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX VIN XXXX with Mercedes-Benz Financial Services.It has come to my attention that Mercedes-Benz Financial Services has denied my entitlement to the proceeds from the receivable securitization, despite my contractual rights and obligations clearly outlined in the aforementioned agreements. The application, being a contractual agreement, represents an offer of credit. Once accepted and returned, it becomes a binding agreement. As the drawer of the security the entitlement right to the funding source is represented by my signature and intellectual property. I applied with notices specifying my agency with the principal and that the application is being issued by the beneficial owner of that Principal that is filed with the State of Florida. It is noted that the name spelled similarly to mine, as stated in the denial letter, belongs to the Principal and not to me. It's imperative to recognize that only entities and trusts have names in all capital letters. In contrast, a man or woman possesses a true name, consisting of a surname and given name. As the living breathing divine being and the creditor for the Estate/debtor requesting credit, Furthermore, I must assert that chattel paper is a negotiable instrument, and my signature was provided as collateral solely within the confines of the agreed-upon terms. Any deviation from these terms, including the unauthorized sale of my securities, is in direct violation of our contractual agreement and applicable legal principles I never received proceeds from the Receivable Securitization conducted byMERCEDES-BENZ FINANCIAL SERVICES ( SPV ). Asset securitization involves the transfer and sale of receivables to a special-purpose vehicle ( SPV ) created for the securitization activity, typically a trust. The trust then issues securities, commonly referred to as asset-backed securities, secured by the transferred receivables.MERCEDES-BENZ FINANCIAL SERVICES received the proceeds from the sale of such securities to pay the purchase price for the transferred receivables. The securitization receivables of the Estate are reported as assets, and the securities issued by the company are reported as liabilities on consolidated balance sheets.

As an originator ( surety ) of the financial assets, I have certain rights outlined inMERCEDES-BENZ FINANCIAL SERVICES prospectus XXXX asset-backed securities agreements, receivable purchase agreements, and pool and service agreements. It has come to my attention that despite my status as surety and provider of the value, MERCEDES-BENZ FINANCIAL SERVICES has sold my security without providing me with consideration of what they received from Receivable Securitization. This action is in direct violation of all agreements filed with the SEC and the rights afforded to me as a participant in this binding agreement.Please consider this notice as formal documentation of my objection and the initiation of proceedings to address this matter. I reserve all rights and remedies available to me under the law to seek appropriate redress for any damages incurred as a result of Mercedes-Benz Financial Services ' actions. Thank you for your prompt attention to this matter. 

Sincerely, XXXX XXXX XXXX, PRINCIPAL by : XXXX, XXXX XXXX Agent/Accommodating Party Without Prejudice, All Natural Inalienable Rights Reserved

Company response to consumer: Closed with explanation