Consumer complaint received 2025-05-21 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: Experian Information Solutions Inc.
State: GA

Complaint narrative:
I disputed an alleged debt with TransUnion and there was no changes of such errors. XX/XX/year>, shows no changes. Ive requested documentations and it was ignored. I keep receiving the same results, nothing new, only thing TransUnion keeps referencing that the alleged debt has been verified and its accurate. 15 U.S.C. 1692g Validation of debts. TransUnion makes you believe that they are really investigating the error and they dont. TransUnion has not completed a thoroughly authenticated investigation. Theres no proof that they actually verifying any debt. Searching public records and/or online doesnt validate a thorough authenticated detailed investigation with duly, honor, integrity and good faith in the ordinary course of business. Whatever they are doing is a disgrace to the reporting of accuracy. This is unjust enrichment! Im disputing the validity of this alleged debt that is assumed that there is a debt or that one even exists at all. Ive requested documentations like, verification of the debt or a copy of a judgment against the consumer ( me ) and a copy of such verification. Ive requested from XXXX  XXXX and TransUnion and neither one of them provided no kind of Documentation of Debt Transfer to see if the alleged debt has been sold or assigned to another party, documentation demonstrating the transfer and chain of ownership is needed, details of the alleged impaired collateral ( charged off ), details of the securitization transactions of the account, documentation showing the collectors ( XXXX XXXX ) has the rights to purse the debt, an authentic copy of the original credit card agreement unaltered with my signature, meaning that the document was not changed after it was signed, an authenticated record of an accounting ( explicitly ), and a statement of accounting pursuant to the UCC 9-210. 12 CFR 1024.36 requests for information, acknowledgement of receipt, response to the information thats being requested and investigate and respond to the claim. If XXXX XXXX or TransUnion can not produce these details explicitly records to me, means the financial assets that they removed from their balance sheet doesnt exist. If there is an alleged contract out there, the agreement was breached by XXXX XXXX, due to the conversion during the securitization process. XXXX XXXX deliberately did not send me adequate notice of such transaction on purpose. Securitization becomes illegal if the practice is deceptive and unfair. XXXX XXXX participates in credit card securitization and not one time did they notify me on what was going on with my account. They converted the agreement without notifying me of such deceptive practices into a XXXX  bond backed by financial assets, and the receivables that I was paying back to XXXX XXXX ended up in the investors pockets. This alleged debt that they are claiming to be owed is now a financial assets to them. So, how is theres a debt when they have already got cash for it and they liquidated it. The bond was then sold to XXXX XXXX XXXX XXXX. The trust then created and sold certificates backed by the payments ( receivables ) to investors and these receivables come from customers like me, when we make payments back to XXXX XXXX. So, if we are paying XXXX XXXX debts securities and others, whos paying the consumer debts? No where in the agreement does it says that consumers knowingly give up their rights to XXXX XXXX to have their agreements converted into an ABS, bond to be pooled with others credit card loans, sells it which then issues those marketable securities to investors that is backed by the payments of the cardholders and consumers like me go broke. Dont you think if cardholders actually knew what was going on that they would agree to this? I sure dont. So, who really owns these loans if XXXX XXXX sells them to a trust? From my research, XXXX XXXX they transfer the ownership of these loan agreements to a special purpose vehicle ( SPV ) pursuant to their prospectus. Through the securitization process, it allows XXXX XXXX to leverage off potential customers by using their existing customers receivables in paying off their debt obligations allowing them to free up more capital and mitigate risk so that they could make more loans. This here is a deceptive approach because they never recorded the borrower loan on their double entry bookkeeping as a liability only assets are recorded. This is a breach of the agreement and false misrepresentation and fraud. What is the nature of the transaction when it comes to the account thats in questioning? TransUnion has to bring evidence and proof that a debt exists. XXXX XXXX never validated anything to me. I believe this debt doesnt exist. If it doesnt exist, TransUnion has to permanently delete this error off my report immediately! 


Questions for TransUnion and XXXX XXXX : XXXX. In order to create a legal assignment, the obligors/debtors to the underlying assets would need to be served with an adequate notice of the assignment. Did XXXX XXXX served the obligor ( me ) with an adequate notice of the assignment of the securitization transaction? If they didnt the assignment would be illegal. 

XXXX. In the securitsation transaction, what method was used to transfer my asset, a security assignment, a true sale or a transfer by way of notation? 

XXXX. What is the primary purpose of assignment for transferring rights to the 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