Consumer complaint received 2024-11-18 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: Bread Financial Holdings, Inc.
State: TN

Complaint narrative:
Subject : Escalated Complaint Regarding Inaccurate Reporting of Charged-Off Account To Whom It May Concern, I am writing to escalate my complaint regarding inaccurate reporting of a charged-off account originally issued by Comenity Capital Bank ( Account XXXX XXXX XXXX ) as reflected on my credit report. Despite submitting a formal complaint ( Ref. No. XXXX ) and receiving a response from Comenity Capital Bank XXXX XX/XX/XXXX, the issues I raised remain unresolved, and key legal requirements under the Fair Credit Reporting Act ( FCRA ) continue to be violated. 

Key Issues and Violations 1. Lack of Ownership Validation : Comenity Capital Bank stated that it sold the account to XXXX XXXX XXXX XXXX XXXX on XX/XX/XXXX. However, no documentation has been provided to validate the chain of ownership or the transfer of the debt. Without this documentation, continued reporting by XXXX as the original creditor violates FCRA ( XXXX XXXX. XXXX ). 
2. Inaccurate XXXX of XXXX XXXX : The charge-off is dated XX/XX/XXXX, but discrepancies in my credit reports show inconsistent dates and statuses across the three major credit bureaus. 
Comenity claims to report a XXXX balance, yet this information does not align with the reports from XXXX XXXX XXXX XXXX XXXX, the current creditor. 
3. Failure to Provide Proof of XXXX XXXX and XXXX : As noted in my previous communication, this debt appears to have been securitized. Court precedent ( In re Veal, 450 B.R. 897 ) establishes that securitization transfers ownership, removing the creditors ability to enforce or report the debt without proper documentation. Comenity has failed to provide proof of ownership or the chain of title for this debt. 
4. FCRA and FDCPA Violations : The failure to validate ownership and ensure accurate reporting violates FCRA provisions for accuracy ( 15 U.S.C. 1681e ( b ) ) and the duty to investigate disputes ( 15 U.S.C. 1681s-2 ( b ) ). 
Comenitys continued reporting of this debt as a charge-off without proper documentation also constitutes a potential FDCPA violation for false representation of the debts legal status ( 15 U.S.C. 1692e ). 

Requested Resolution I respectfully request the following actions from the CFPB : 1. Investigate Comenity Capital Banks compliance with FCRA and FDCPA regulations, including their failure to provide proof of ownership and validate the debt. 
2. Require Comenity and XXXX XXXX XXXX XXXX XXXX to provide the full chain of assignment contracts, including documentation related to securitization. 
XXXX. Ensure the removal of all inaccurate and unverifiable information from my credit report. 

Supporting Documents To support this complaint, I have attached : A copy of my original complaint and supporting evidence. 
Comenity Capital Banks response dated XX/XX/XXXX. 
My credit report highlighting inconsistencies in the reporting of this account. 

Contact Information Full Name : XXXX XXXX XXXX Address : XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX, TN XXXX Phone Number : XXXX Email Address : XXXX I request that this matter be addressed promptly and that a resolution is provided within the mandated investigation period. I am prepared to take further legal action if these issues are not adequately resolved. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation