Consumer complaint received 2025-05-25 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Problem with personal statement of dispute
Company: Velocity Portfolio Group
State: GA

Complaint narrative:
I am writing to formally request your immediate attention and intervention regarding a serious issue involving a collection agency ( CKS Prime Investments ) that continues to report a paid account on my credit report. While I understand the original debt may have been valid, it has since been paid in full. Despite this, the agency is still reporting the account in a way that negatively impacts my creditworthinessa practice that is neither fair, accurate, nor legally justified. 

Once a debt is paid, it is no longer being actively pursued for collection. Continued reporting by a debt collector after payment is not only misleading, but also appears to serve no legitimate business purpose other than to harm the consumers credit profile. The collection agency appears to have a vested interest in maintaining this derogatory record, despite the fact that the debt has been resolved. 

This conduct violates several federal statutes and principles : Fair Credit Reporting Act ( FCRA ) : 15 U.S. Code 1681c ( a ) ( 5 ) Negative accounts ( including collections ) that are no longer active must be reported accurately and can not remain on a report indefinitely. If an account has been paid, the status must reflect Paid Collection or ideally be removed, if it serves no useful purpose.

15 U.S. Code 1681i ( a ) ( 1 ) ( A ) Requires a reinvestigation if the consumer disputes information, particularly when the information is no longer accurate or complete.

15 U.S. Code 1681b ( a ) ( 3 ) Limits access to consumer reports only when there is a legitimate business need. A paid debt that is no longer being collected should not qualify under this provision.

Fair Debt Collection Practices Act ( FDCPA ) : 15 U.S. Code 1692e ( 8 ) Prohibits communicating or threatening to communicate credit information which is known or should be known to be false, including failing to communicate that a debt is disputed or paid.

15 U.S. Code 1692f Prohibits unfair or unconscionable means to collect or attempt to collect any debt. Continuing to report a paid debt in a way that damages the consumers credit could fall under this provision as an unfair practice.

Fundamental Human Rights and Fair Treatment Principles : Under Article 17 of the International Covenant on Civil and Political Rights ( ICCPR ), individuals have the right to protection from arbitrary interference with their privacy, including their personal and financial data. The prolonged and harmful reporting of a settled debt, without purpose or necessity, may be viewed as a form of reputational damage and an infringement upon human dignity and privacy.

Summary : The collection agency has no legitimate business need to continue reporting a debt that is fully paid. 

A paid debt is not an active debt, and continued reporting misrepresents the nature of the account. 

The intent appears punitive and serves no fair credit evaluation purpose. 

This is likely a violation of FCRA and FDCPA, and potentially human rights principles regarding fair and non-discriminatory treatment. 

I respectfully request that the CFPB take appropriate enforcement action to ensure that : The collection agency ceases the unfair reporting of this paid account. 

The account is updated to reflect its true, non-delinquent and satisfied status, or preferably, removed altogether. 

The company is investigated for ongoing violations of federal consumer protection laws. 

Thank you for your time, attention, and commitment to protecting consumer rights.

Company response to consumer: Closed with explanation