Consumer complaint received 2024-11-14 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: CL Holdings LLC
State: IL

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, IL XXXX XXXX XXXX XX/XX/XXXX Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX, IA XXXX Re : Credit Report Dispute Against Jefferson Capital Systems To Whom It May Concern, I am writing to formally request the assistance of the Consumer Financial Protection Bureau ( CFPB ) in addressing an unresolved issue with Jefferson Capital Systems regarding a disputed debt they reported on my credit file. Despite my efforts to resolve this matter directly with Jefferson Capital Systems and the credit bureaus, Jefferson Capital Systems has failed to provide adequate verification or substantiation of the debt. Additionally, I have confirmed that Jefferson Capital Systems is not listed on the NMLS Consumer Access database, raising concerns about their compliance and authorization to collect debts or report on consumer credit profiles. 

Summary of Dispute Debt Collector : Jefferson Capital Systems Dispute Details : Inaccurate or unverifiable debt reported by Jefferson Capital Systems Potential Violations of Consumer Protection Acts Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 Jefferson Capital Systems has failed to comply with FCRA regulations by : Not providing proper validation or verification of the disputed debt within the required timeframe. 
Continuing to report inaccurate or unverifiable information to credit reporting agencies ( CRAs ), which negatively impacts my credit score and creditworthiness.

Failing to promptly investigate the dispute and remove or correct inaccurate information on my credit report as required under 1681i. 
Fair Debt Collection Practices Act ( FDCPA ), 15 U.S.C. 1692 Under FDCPA guidelines, debt collectors must operate transparently and ensure consumers are informed of their rights to dispute a debt. Jefferson Capital Systems may have violated FDCPA requirements by : Reporting a debt without sufficient verification, impacting my credit record despite a lack of clear evidence that the debt is valid or accurately reflects the balance owed. 
Failing to provide proper debt validation when requested, as outlined in 1692g.

Consumer Financial Protection Act of 2010 ( CFPA ), 12 U.S.C. 5531 and 5536 The CFPA prohibits unfair, deceptive, or abusive acts or practices in consumer financial products and services. Jefferson Capital Systems may have engaged in unfair practices by reporting unverifiable information to CRAs and failing to correct erroneous reporting upon notice of dispute. 

NMLS Consumer Access Absence The absence of Jefferson Capital Systems on NMLS Consumer Access raises additional compliance concerns regarding their authority to conduct debt collection activities and to report debt to credit bureaus. As a consumer, I have the right to work with regulated and registered financial service providers, and Jefferson Capital Systems ' unlisted status further complicates their authority to report on my credit. 

Impact of Inaccurate Reporting The failure of Jefferson Capital Systems to validate this debt or to substantiate its accuracy is causing harm to my credit standing, which has led to : Denials of credit applications and increased interest rates on approved credit lines A negative impact on my overall credit score Ongoing financial and emotional distress due to unresolved credit issues Requested Action In light of these violations and Jefferson Capital Systems ' failure to correct or validate the disputed debt, I am requesting that the CFPB : Require Jefferson Capital Systems to provide verifiable documentation of this debt or Order Jefferson Capital Systems to immediately remove this entry from all credit reports if they can not verify its accuracy. 
Ensure Jefferson Capital Systems is compliant with the FCRA, FDCPA, and CFPA, given their unlisted status on NMLS Consumer Access. 

I am requesting CFPBs assistance to ensure that Jefferson Capital Systems adheres to fair and accurate credit reporting practices as outlined under federal laws. Their actions have caused harm to my credit and financial standing, and I trust that the CFPB will investigate this matter and provide guidance on resolving this dispute. 

Thank you for your time and assistance. I look forward to your help in ensuring fair and accurate credit reporting. 

Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation