Consumer complaint received 2026-01-27 00:00:00
Product: Debt collection — Credit card debt
Issue: Written notification about debt — Didn't receive enough information to verify debt
Company: CL Holdings LLC
State: MN

Complaint narrative:
THIS DEBT BUYER UPON REQUEST CAN NOT PROVE LEGAL TRANSFER OF DEBT AS THERE IS NO BILL OF SALE. 

THIS COLLECTION AGENCY OR DEBT BUYER MUST ADHERE TO THE MANDATE ESTABLISHED BY THE CFPB IN THE FOLLOWING ACTION AGAINST XXXX XXXX XXXX IN XXXX : XXXX XXXX XXXX XXXX XXXX On XX/XX/XXXX, XXXX XXXX filed a complaint and proposed stipulated final judgment and order to resolve XXXX XXXX claims against XXXX XXXX XXXX XXXX XXXX, one of the largest debt collectors in the United States. The court entered the order on XX/XX/XXXX. On XX/XX/XXXX, XXXX XXXX issued an order against XXXX XXXX XXXX ( XXXX Order ) to address XXXX XXXX findings that XXXX XXXX XXXX violated the Consumer Financial Protection Act of XXXX ( XXXX ) and the Fair Debt Collection Practices Act ( FDCPA ) in connection with XXXX XXXX XXXX debt collection practices. XXXX XXXXXXXX alleged that XXXX XXXX XXXX violated the XXXX Order, the CFPA, the FDCPA, and the Fair Credit Reporting Act ( FCRA ) and its implementing Regulation V. SpecificallyXXXX XXXX XXXXXXXX alleged that XXXX XXXX XXXX violated the CFPA and, in some instances, the FDCPA, when it violated multiple conduct provisions from the XXXX Order, including prohibitions on ( 1 ) representing the amount or validity of unsubstantiated debt ; ( 2 ) collecting on debt without offering to provide necessary documentation to consumers ; ( 3 ) mispresenting that it would provide the offered documents within thirty days ; ( 4 ) collecting on time-barred debt without making required disclosures ; ( 5 ) initiating debt collection lawsuits without possessing required documentation ; and ( 6 ) suing to collect time-barred debt. XXXX XXXXXXXX also alleged that several of XXXX XXXX XXXX practices for resolving disputes about information it furnished to consumer reporting agencies ( CRAs ) violated FCRA, Regulation V, and the CFPA. Specifically, XXXX XXXX claimed that XXXX XXXX XXXX failed to ( 1 ) timely resolve disputes submitted by consumers directly to XXXX XXXX XXXX ; ( 2 ) properly respond to disputes that XXXX XXXX XXXX deemed frivolous ; ( 3 ) conduct reasonable investigations of consumers disputes ; and ( 4 ) maintain reasonable policies and procedures regarding the accuracy and integrity of consumer information that it furnished to CRAs. XXXX  XXXXXXXX alleged that XXXX XXXX XXXX illegally collected millions of dollars through its unlawful conduct, and that its illegal dispute resolution practices impacted at least tens of thousands of consumers. The order requires XXXX XXXX XXXX to pay at least {$12.00} XXXX in redress to harmed consumers and a {$12.00} XXXX civil money penalty. It also imposes broad injunctive relief designed to prevent XXXX XXXX XXXX from violating the law in the future. 
This debt buyer only acquired my personal information including debt services, social security number and address. It did not go through the legal process of acquiring the debt by a Bill of Sale process. 

" FTC XXXX XXXX XXXX '' is likely a misunderstanding of several instances where XXXX XXXX XXXX, a debt buyer, has been accused of violating consumer protection laws like the Fair Debt Collection Practices Act ( FDCPA ), and has been subject to FTC reports and legal action from consumers and the FTC itself. For example, the FTC released a XXXX report on broken debt collection systems that XXXX was part of, and the FTC has previously used its authority to investigate and fine companies, including XXXX for their debt collection practices. 
Here is a breakdown of the connection between XXXX XXXX XXXX and the FTC : XXXX XXXX  Business Model : XXXX XXXX XXXX buys charged-off debt from original creditors ( like credit card companies ) for a fraction of the owed amount, then attempts to collect these debts from consumers. 
Consumer Complaints and FDCPA Violations : Many consumers have filed lawsuits and class actions against XXXX for alleged FDCPA violations, including misrepresenting debt information, making misleading collection attempts, and failing to disclose information about the debt. 
The FTC 's Role in Debt Collection : The Federal Trade Commission ( FTC ) plays a role in overseeing debt collectors and investigating illegal practices.

The XXXX FTC Report : The FTC issued a significant XXXX report titled " Repairing a Broken System : Protecting Consumers in Debt Collection ''. This report highlighted systemic issues in the debt collection industry, including the problem of debt buyers like XXXX suing on time-barred debts. 
Fines and Investigations : In the past, entities related to Cavalry, such as XXXX XXXX XXXX, have been subject to investigations and fines for improper debt collection practices, such as one by the Arizona Department of Financial Institutions. 
Therefore, there is not a single, high-profile case named " FTC v. XXXX XXXX, '' but rather a history of regulatory scrutiny, consumer lawsuits, and FTC reports that highlight the company 's alleged misconduct in the debt collection industry. 
This company must remove all collections against my credit reports immediately. My dispute is based upon the Federal Trade Commission guidelines pertaining to either debt collections as a third-party, or debt buyers in general. The rules are as follows : The third-party transfer became popular as a debt purchase arrangement in XXXX after a U.S. Supreme Court Decision XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX. XXXX. Argued XX/XX/XXXX, XXXX XX/XX/XXXXXXXX  This decision basically took away federal rights protections under the Fair Debt Collection Practices Act as amended by Public Law 111-203, title X, 124 Stat. 2092 ( XXXX  ) Financial institutions applauded this decision based upon the fact that they could relinquish charged off debts and purge consumer files upon transfer of ownership. In essence, the transfers take place in multiples of millions of dollars at a time. The greatest benefit to financial institutions is the huge reductions of defaulted debts on 10Q quarterly filings with the Securities and Exchange Commission. This huge reduction is essential for continuation of high bond ratings for said institutions to raise new capital at exceptionally low interest rates on XXXX XXXX pooling and servicing agreements. 

In addition to FTC violations on acquiring my information and posting a collection on my credit reports, this debt-buyer in essence is guilty of identity theft. The debt-buyer has no rights to my personal information. The following additional criteria also applies : A debt collector/buyer must be bonded and licensed by the XXXXXXXX XXXX XXXX XXXX XXXX 
The debt must be legally collectible within the states jurisdiction where the creditor resides. 
Creditors must be given copies of debt collector/buyer license, bonding number with insurance carrier name and address, a copy of any assignment to collect on original creditors behalf, and/or copies on ant ownership transfer with true copy certification. 
A debt purchase must have an assignment number and be registered with the XXXXXXXX XXXX XXXX XXXXXXXX. 
Any debt not within these guidelines must be deleted from a consumers credit report with prejudice. 
This company has posted one or more outdated collection against my credit report. It looks like the account was over 7 years old, and the information was acquired through a debt pooling service. The collections must be deleted permanently!!! 
Debt Buyers obtain assignments of uncollected debts in bulk, without individual purchase agreements, which is a violation of requirements with the XXXX, and in most cases can not be valued as true ownership under XXXX. 
Accordingly, this debt buyer must prove these requirements or delete any collection on all pertinent credit reports, i.e., XXXX, XXXX XXXX XXXX  XXXX, respectively. 
THIS COLLECTION IS ILLEGAL AND I DEMAND ITS DELETION ON ALL CREDIT BUREAUS. 
MY PERSONAL INFORMATION MUST BE PURGED PERTAINING TO THIS ACCOUNT PERMANENTLY. 
DELETE THIS ILLEGAL COLLECTION IMMEDIATELY AND PERMANENTLY!!!

Company response to consumer: Closed with explanation