Consumer complaint received 2025-04-27 00:00:00
Product: Debt collection — Credit card debt
Issue: Attempts to collect debt not owed — Debt is not yours
Company: Spring Oaks Capital, LLC
State: GA

Complaint narrative:
SPRING OAKS CAPITAL LLC is in violation of multiple laws set forth by Congress regarding the following account # XXXX XXXX XXXX XXXX XXXX  15 U.S. Code 1681a ( 2 ) ( a ) ( i ) states that the consumer report does not include information solely as to transactions or experiences ( payment history, charge-off status ), between the consumer ( myself ) and the person ( SPRING OAKS CAPITAL LLC ) making the report. Additionally, 15 U.S. Code 1681s-2 ( a ) ( 1 ) ( A ) states that a person ( SPRING OAKS CAPITAL LLC ) shall not furnish any information relating to a consumer ( ME ) to any consumer reporting agency ( XXXX XXXX XXXX ) if the person knows or has reasonable cause to believe that the information is inaccurate. SPRING OAKS CAPITAL LLC can not collect on a discharged debt. This is now considered a certificate of indebtedness per the IRS, and income can not be reported. The IRS clearly defines a charge-off as gross or ordinary income. INCOME DOES NOT GET REPORTED ON THE CONSUMER REPORT, which makes reporting of this account inaccurate! 

I provided a screenshot from the IRS website. By definition, the IRS clearly says a canceled debt or charge-off is income. The reporting of this account as a debt is inaccurate. I never received a 1099-C from SPRING OAKS CAPITAL LLC for the canceled debt of {$1100.00} in order to file as ordinary income. Where is my 1099-C? SPRING OAKS CAPITAL LLC is clearly writing off debt with the IRS without sending out a 1099-C as required by the IRS for debts. This is unsatisfactory! 

SPRING OAKS CAPITAL LLC has been HEREBY PUT ON NOTICE that they are furnishing incorrect, inaccurate information. In SPRING OAKS CAPITAL LLC terms and conditions, they agreed not to share my information with non-affiliates. Experian, Equifax, and TransUnion are not affiliates of SPRING OAKS CAPITAL LLC, nor are they " bureaus. '' The only true credit bureau is the CFPB, and they DO NOT furnish consumer reports as stated in federal law. 

I have a right to privacy, and per the Privacy Act of 1974, as a federally protected consumer, I am now revoking any and all authorization I, the consumer, may have given youwritten, non-written, verbal, or nonverbalper 5 U.S. Code 552a. Per the FCRA, as a federally protected consumer, I am opting out of any and all authorization I may have given, written or otherwise, per 15 USC 6802.

I also point out your responsibility under 15 U.S. Code section 1681s-2 ( a ) ( 1 ) ( B ) ( ii ) : ( a ) DUTY OF FURNISHERS OF INFORMATION TO PROVIDE ACCURATE INFORMATION ( 1 ) PROHIBITION ( B ) Reporting information after notice and confirmation of errors A person shall not furnish information relating to a consumer to any consumer reporting agency if : ( i ) The person has been notified by the consumer, at the address specified for such notices, that specific information is inaccurate ; and ( ii ) The information is, in fact, inaccurate. 

SPRING OAKS CAPITAL LLC must also refund the remaining balance of the consumer account upon its termination. This is your 7-day notice to return ALL money due from this consumer account. 1026.11 Treatment of credit balances ; account termination applies as follows : ( a ) Credit balances. When a credit balance in excess of {$1.00} is created on a credit account, the creditor shall : Credit the amount of the credit balance to the consumer 's account ; Refund any remaining balance within seven business days upon written request ; Make a good-faith effort to refund balances held for over XXXX months. 

( b ) Account termination. A creditor shall not terminate an account solely for inactivity unless it has been inactive for XXXX or more consecutive months and has no balance. 

( c ) Timely settlement of estate debts : Policies must allow administrators of deceased accounts to obtain balances within 30 days and waive trailing or residual interest when balances are paid in full within that period. 

Immediate removal of the SPRING OAKS CAPITAL LLC account from all 3 credit reporting agencies and a remedy of {$1000.00} per violation per month since the start of this illegal reporting for violating my rights as a consumer protected by 15 U.S. Code 1681 ( b ), 15 U.S. Code 1692, House Joint Resolution 192 as all debt obligations are obligations of the United States of America, and the Privacy Act of 1974. 
Pay To The Order of without recourse : {$210000.00} to XXXX XXXX XXXX This is for the XXXX, XXXX, illegal debt collection practices, violations of privacy, extreme harm caused from willful lack of proof to provide the contract agreement that I signed, there was no meeting of minds ever, I was given XXXX consideration which arrested my ability to access my own credit as provided by state and federal laws. 
Whoever holds, arrests, returns, or causes to be held, arrested, or returned, or in any manner aids in the arrest or return of any person to a condition of peonage shall be fined not more than {$5000.00}, or imprisoned not more than five years, or both. Georgia Code ( 1933 ), Title 38, 415, 416.

Company response to consumer: Closed with explanation