Consumer complaint received 2024-02-23 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Investigation took more than 30 days
Company: Velocity Portfolio Group
State: MO

Complaint narrative:
Subject : Complaint against Velocity Investments LLC for Failure to Respond to the Debt Validation and Refusal to Pay dispute for the XXXX XXXX XXXX Account reporting on my Consumer Reports. Account Number XXXX Dear Sir/Madam, I am writing to file a formal complaint against Velocity Investments LLC regarding their failure to respond to my debt validation request and refusal to remove the reported XXXX XXXX XXXX XXXX Account Number XXXX ) account on my consumer reports. I have XXXX on recording line saying that they sold the account yo you Velocity Investments LLC. Despite sending a debt validation and a refusal to pay dispute letter, I have not received any response from Velocity Investments LLC within the mandated 30-day timeframe, as stipulated by the Fair Debt Collection Practices Act ( FDCPA ). Below are the details of the relevant information : XXXX. Debt Validation Request : On XX/XX/XXXX and and Refusal To Pay sent on XX/XX/XXXX, I sent a written debt validation letter to Velocity Investments LLC, requesting that they provide the necessary documentation and proof of the alleged debt associated with the account reported on my consumer reports. This document was sent via certified mail # XXXX, return receipt requested, to ensure proof of delivery. See document attached. 

XXXX. Refusal to Pay Dispute : In the same correspondence, I also explicitly stated my refusal to pay the debt until Velocity Investments LLC satisfactorily validated it in accordance with the FDCPA. The refusal to pay was clearly communicated, indicating my intent to resolve the matter with transparency and adherence to consumer protection laws. Despite the statutory requirements outlined in 15 USC 1692g, Velocity Investments LLC has not provided any response or validation of the debt within the specified time limit. Their unresponsiveness raises significant concerns regarding their compliance with debt collection laws and regulations. 

This lack of cooperation prevents me from properly assessing the legitimacy and accuracy of the reported account on my consumer reports. I kindly request the Consumer Financial Protection Bureau ( CFPB ) to investigate this matter and take necessary action against Velocity Investments LLC for their failure to comply with the FDCPA. Additionally, I urge the CFPB to require Velocity Investments LLC to delete the reported account from my consumer reports, as mandated under 15 USC 1692g. Enclosed with this complaint, you will find copies of the following supporting documents : 1. Certified mail receipts indicating the delivery of my debt validation and refusal to pay dispute letter to Velocity Investments LLC on [ date ]. 
XXXX. A copy of the debt validation letter and refusal to pay dispute letter sent to Velocity Investments LLC.

3. Any relevant documentation related to a lack of response from Velocity Investments LLC. I appreciate your attention to this matter and your efforts in safeguarding consumer rights. Please inform me of any further steps or actions that may be necessary from my end to resolve this issue promptly. 
Thank you for your prompt attention to this complaint.

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