Consumer complaint received 2025-06-26 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Rosebud Economic Development Corporation
State: IN

Complaint narrative:
I am filing a formal complaint against XXXXXXXX XXXX XXXXXXXX as well as ZocaLoans / Rosebud Lending for engaging in predatory lending, materially inaccurate credit reporting, and ongoing collection attempts on an illegal and disputed loan in violation of Indiana law and federal consumer protections. 

XXXX. Incorrect Credit Reporting ( FCRA Violation ) XXXXXXXX XXXX XXXX and ROSEBUD LENDING ( ZOCA LOANS ) has reported a collection account to the credit bureaus that they claim was opened in XX/XX/XXXX, but it was reported with a last update date of XX/XX/XXXX. This is a false, deceptive, and inaccurate credit report in violation of the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681s-2 ( a ).

This inaccurate date re-ages the debt, making it appear more recent and damaging than it actually is. This is a common tactic used by abusive lenders to manipulate credit scoring and pressure consumers into repayment and considered fraudulent.

2. Financial Abuse 742.95 % APR in Violation of Indiana Usury Laws ZocaLoans charged me an APR of 742.95 %, which violates Indianas strict usury limits under IC 24-4.5 : Loans under {$2000.00} are capped at ~36 % APR.

Payday loans have a maximum effective APR around 391 % ( with strict fee limits and licensing ).

Loans exceeding these caps are considered void and uncollectible under Indiana law. 

ZocaLoans has no known Indiana license to operate as a lender or payday provider and is charging criminal-level interest rates to low-income residents like myself.

3. Tribal Affiliation Used to Evade the Law While ZocaLoans claims to be a tribal lender associated with the Rosebud XXXX XXXX, it is widely documented that it is operated by private equity firm XXXX XXXX in Florida. Several class-action lawsuits have been filed against ZocaLoans for : Violating state interest caps Forcing arbitration to avoid accountability Operating without proper licensure Despite these legal challenges, they continue to operate nationwide and exploit consumers using tribal branding as a shield.

4. Deceptive and Aggressive Collection Behavior Although the loan terms are unlawful and unconscionable, ZocaLoans continues to : Report false information to the credit bureaus through correcting agencies such as XXXX XXXX XXXX XXXX Attempt collection through credit damage and implied threats Violate the Fair Debt Collection Practices Act ( FDCPA ) by continuing collection attempts on a debt that is legally void under state law 4. Cease and Desist Under FDCPA As permitted under the Fair Debt Collection Practices Act ( FDCPA ), 15 U.S.C. 1692c ( c ), I hereby demand that ZocaLoans, Rosebud Lending, their agents, collectors, and affiliates : Cease and desist all contact with me, including phone calls, emails, letters, and credit reporting, effective immediately. 

I have disputed the validity of this debt and consider all further attempts to collect it a violation of both state law and federal consumer protection statutes.

Any continued collection efforts including credit reporting will result in additional complaints and civil legal action for : Financial abuse Deceptive practices Illegal credit reporting Emotional distress and reputational damage Supporting Documents : I have retained a copy of the loan agreement, including the stated APR of 742.95 %. I can provide this and screenshots of the credit report entries listed below.

Consumer Harm : I was a low-income borrower in Indiana, and I was misled into accepting a loan with illegal and abusive terms. I am now suffering credit damage, stress, and ongoing financial instability due to this unlawful account. 

Please intervene on behalf of consumers like me who are being exploited by illegal, high-interest lenders hiding behind tribal affiliation and complex legal shields.

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