Consumer complaint received 2025-03-17 00:00:00
Product: Debt collection — Auto debt
Issue: Attempts to collect debt not owed — Debt is not yours
Company: Exeter Finance, LLC.
State: NV

Complaint narrative:
Complaint Against Exeter Finance LLC for Violations of Federal and State Law Dear CFPB Investigator, I am submitting this formal complaint against Exeter Finance LLC, located at XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, regarding their unlawful and deceptive conduct concerning an alleged auto loan. Exeter Finance LLC has violated multiple federal and state laws, including the Truth in Lending Act ( TILA ), Fair Credit Reporting Act ( FCRA ), Fair Debt Collection Practices Act ( FDCPA ), and Nevada state consumer protection laws. 

1. Summary of the Issue On or about XX/XX/XXXX, I entered into a Retail Installment Sales Contract ( RISC ) for the purchase of a vehicle in the State of Nevada. Exeter Finance LLC claims to have purchased and/or acquired this contract from the originating dealership and is reporting to the credit bureaus that I owe a balance of {$7100.00}, as of their most recent reporting on XX/XX/XXXX. 
However, after careful investigation, I have discovered the following : 2. Violations and Unlawful Practices A. Lack of Proper Licensing in Nevada Exeter Finance LLC did not possess a valid Sales Finance Company License or Retail Installment Loan License in the State of Nevada at the time of assignment or servicing of my contract. 
Nevada Revised Statutes ( NRS ) 97.299 explicitly requires any entity involved in purchasing or servicing Retail Installment Sales Contracts in Nevada to be licensed by the Nevada Financial Institutions Division. 
Without the required license, Exeter Finance LLC was not legally authorized to acquire, enforce, or collect on this account in Nevada. 

B. Truth in Lending Act ( TILA ) Violations 15 U.S.C. 1641 ( g ) Upon information and belief, Exeter Finance LLC securitized my loan by selling it to a third-party investor or trust. 
Under 15 U.S.C. 1641 ( g ), they were required to provide me with a notice of transfer of ownership within 30 daysof such assignment or sale. 
No such disclosure was ever provided to me. 
As a result, I have been deprived of critical information regarding who currently owns my loan and to whom I should direct payments and inquiries. 

C. Fair Credit Reporting Act ( FCRA ) Violations 15 U.S.C. 1681s-2 Exeter Finance LLC is currently furnishing inaccurate and misleading information to the consumer reporting agencies ( CRAs ) : They are reporting a closed account with a balance of {$7100.00}, while they are not legally entitled to collect or enforce this debt in Nevada due to lack of licensing. 
Their reporting fails to reflect any payments or account resolution and misrepresents the true status of the account. 
Exeter Finance LLC has failed to conduct a reasonable investigation into my dispute regarding these inaccurate reports, violating 15 U.S.C. 1681i. 

D. Fair Debt Collection Practices Act ( FDCPA ) Violations 15 U.S.C. 1692 et seq.

By attempting to collect a debt in Nevada without being properly licensed and failing to validate the debt when requested, Exeter Finance LLC has engaged in : False representation of the character and legal status of the debt ( 15 U.S.C. 1692e ) Unfair or unconscionable means to collect or attempt to collect a debt ( 15 U.S.C. 1692f ) Failure to provide proper validation of debt under 15 U.S.C. 1692g. 

E. Nevada Deceptive Trade Practices Violations NRS 598.0915 et seq.

Exeter Finance LLCs unlicensed activity and failure to disclose material facts constitute consumer fraud and deceptive trade practices under Nevada law.

Company response to consumer: Closed with explanation