Consumer complaint received 2025-01-11 00:00:00
Product: Debt collection — I do not know
Issue: Attempts to collect debt not owed — Debt is not yours
Company: Spring Oaks Capital, LLC
State: VA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/year> Spring Oaks Capital LLC Subject : Formal Dispute of Loan Account - Request for Investigation and Removal To Whom It May Concern, I am writing to formally dispute the validity and accuracy of the loan account reported by Spring Oaks Capital LLC as reflected in my credit report from XXXX. This account does not align with my records, and I believe it has been erroneously attributed to me. Under the Fair Credit Reporting Act ( FCRA ), I am requesting that this account be investigated and removed if it is found to be inaccurate or unverifiable. I have looked over the documents previously provided through the CFPB website regarding this debt collection, this debt was opened fraudulently and I have no knowledge of any association of this debt. The address provided and contact information Spring Oaks Capital has documentation of is not associated with myself. This debt and the information used and obtained was sold and distributed to a third party ; I did not consent to any of this information to be handed over to a third party nor did I have knowledge of this. 

Furthermore, I bring to your attention the recent legal actions taken by the Consumer Financial Protection Bureau ( CFPB ) against XXXX for their failure to conduct adequate investigations into disputed accounts. As XXXX is currently under scrutiny for noncompliance with federal law, I have reason to believe that this account may not have been properly verified as required under 15 U.S.C. 1681i ( a ).

To ensure full compliance with the FCRA and to uphold my consumer rights, I am requesting that you : 1. Provide Full Validation : Produce documented proof of the debt, including the original signed loan agreement, detailed payment history, and evidence that this debt was legally assigned to me.

2. Cease Reporting Until Verified : If you are unable to provide the requested documentation within 30 days, cease reporting this account to any credit reporting agencies ( CRAs ) in accordance with 15 U.S.C. 1681s-2 ( b ).

3. Conduct a Full Investigation : Ensure a thorough review of this account, including its origination and any errors in assignment, as per FCRA guidelines.

Please note that failure to properly validate and investigate this account constitutes a violation of federal law, exposing your organization to legal liability under the FCRA and potential enforcement action by the CFPB.

I have enclosed copies of relevant documentation supporting my claim, including credit reporting information. Please review these materials in conjunction with your investigation. 

I request a written response detailing the findings of your investigation and your proposed resolution within the legally mandated timeframe of 30 days. Should you fail to comply with this request, I am prepared to escalate this matter by filing public complaints with the CFPB, my state attorney generals office, and the Federal Trade Commission ( FTC ). 

Thank you for your attention to this matter. I trust that you will treat this dispute with the seriousness it requires and ensure that my consumer rights are respected. 

Sincerely, XXXX XXXX Email address contact : XXXX XXXX

Company response to consumer: Closed with explanation