Consumer complaint received 2025-03-11 00:00:00
Product: Debt collection — I do not know
Issue: Attempts to collect debt not owed — Debt is not yours
Company: Continental Finance Company, LLC
State: FL

Complaint narrative:
Subject : ** Dispute of Inaccurate Reporting, Fraudulent Account Activity, False and Misleading Credit Reporting 1. I am writing to formally dispute the inaccurate and misleading reporting of an account on my credit report. Upon reviewing my credit report, I discovered that XXXX XXXX reported a discharged debt but still included a balance, despite allegedly selling the account to a third party. I have no knowledge of this third-party transaction. Additionally, this third-party debt collector has reported the same account as being in collections with a {$0.00} balance and falsely claims that I participated in a settlement, which is untrue. 

2. I am submitting this formal complaint regarding the inaccurate and misleading reporting of an account on my credit file by XXXX, XXXX and XXXX under 2 accounts mentioned for Continental Finance Co and an unknown third-party debt collector by the name of XXXX XXXX . The account was discharged, yet it is still reported with a balance, and a third party has also reported a collection with a {$0.00} balance, falsely claiming I settled the debt, which is incorrect. 

Violations Under Federal Law : 1. **Misreporting a Discharged Debt** - **Violation of 15 U.S.C. 1681e ( b ) Failure to Ensure Maximum Possible Accuracy** - A discharged debt should not reflect an outstanding balance. Reporting an incorrect balance is a violation of credit reporting laws. 

2. **Incorrectly Reporting a Settled Debt When No Settlement Occurred** - **Violation of 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( B ) Prohibition on Reporting Inaccurate Information** - The third-party collector falsely reported that I settled the account, which is misleading and damaging to my creditworthiness.

3. **Duplicate Reporting of the Same Debt** - **Violation of 15 U.S.C. 1681b ( f ) Unlawful Credit Report Use** - A debt can not be reported by two entities simultaneously in a way that misrepresents its current status.

4. **Failure to Conduct Proper Verification of Account Transfer** - **Violation of 15 U.S.C. 1681s-2 ( b ) Duty to Investigate Disputes** - The reporting agencies failed to verify the legitimacy of the account transfer and its status.

5. **Possible Re-Aging of Debt** - **Violation of 15 U.S.C. 1681c ( a ) Time Limits on Reporting Negative Information** - If the third party changed the date of first delinquency, this would be considered an illegal attempt to extend the reporting period.

1. **Failure to Ensure Accurate Reporting** ( 15 U.S.C. 1681e ( b ) ) 2. **Knowingly Reporting False Information** ( 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( B ) ) 3. **Duplicate and Misleading Debt Reporting** ( 15 U.S.C. 1681b ( f ) ) 4. **Failure to Verify a Debt Transfer and Settlement Claim** ( 15 U.S.C. 1681s-2 ( b ) ) 5. **Potential Illegal Re-Aging of Debt** ( 15 U.S.C. 1681c ( a ) ) Despite my efforts to dispute this matter with [ Credit Reporting Agency ], the incorrect information remains on my credit report, causing financial harm and potential credit denials. 

I also request assistance in ensuring the immediate correction of my credit report. 

Thank you for your time and attention to this urgent matter. Please keep me informed about any developments in this case.

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