Consumer complaint received 2024-02-22 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: FC HoldCo LLC
State: TX

Complaint narrative:
FLAGSHIP CREDIT ACCEPTANCE, LLC and XXXX continue to violate my federally protected consumer rights by reporting the account incorrectly. Flagship Credit Acceptance LLC is selling the information to XXXX. The note that Flagship holds is the actual security that Flagship has sold and made millions from according to the forensic audit report I had ran on this account this note is worth XXXX XXXX dollars and counting. This is fraud because Flagship repossessed the vehicle and now are causing damages to my consumer report by reporting it has a repossession. When Flagship sold this contract they did not disclose they would be selling the contract for profits for their business. Withholding this material fact changes how business would have been conducted if they would have disclosed this. To know they are still making equitable interest from my asset makes them liable for damages and for deception for selling this information knowing it is not true. 

( a ) The person to whom an instrument is initially payable is determined by the intent of the person, whether or not authorized, signing as, or in the name or behalf of, the issuer of the instrument. The instrument is payable to the person intended by the signer even if that person is identified in the instrument by a name or other identification that is not that of the intended person. If more than one person signs in the name or behalf of the issuer of an instrument and all the signers do not intend the same person as payee, the instrument is payable to any person intended by one or more of the signers. 

( b ) If the signature of the issuer of an instrument is made by automated means, such as a check-writing machine, the payee of the instrument is determined by the intent of the person who supplied the name or identification of the payee, whether or not authorized to do so. 

( c ) A person to whom an instrument is payable may be identified in any way, including by name, identifying number, office, or account number. For the purpose of determining the holder of an instrument, the following rules apply : ( 1 ) If an instrument is payable to an account and the account is identified only by number, the instrument is payable to the person to whom the account is payable. If an instrument is payable to an account identified by number and by the name of a person, the instrument is payable to the named person, whether or not that person is the owner of the account identified by number. 

( 2 ) If an instrument is payable to : ( i ) a trust, an estate, or a person described as trustee or representative of a trust or estate, the instrument is payable to the trustee, the representative, or a successor of either, whether or not the beneficiary or estate is also named ; ( ii ) a person described as agent or similar representative of a named or identified person, the instrument is payable to the represented person, the representative, or a successor of the representative ; ( iii ) a fund or organization that is not a legal entity, the instrument is payable to a representative of the members of the fund or organization; or ( iv ) an office or to a person described as holding an office, the instrument is payable to the named person, the incumbent of the office, or a successor to the incumbent. 

( d ) If an instrument is payable to two or more persons alternatively, it is payable to any of them and may be negotiated, discharged, or enforced by any or all of them in possession of the instrument. If an instrument is payable to two or more persons not alternatively, it is payable to all of them and may be negotiated, discharged, or enforced only by all of them. If an instrument payable to two or more persons is ambiguous as to whether it is payable to the persons alternatively, the instrument is payable to the persons alternatively.

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