Consumer complaint received 2025-11-12 00:00:00
Product: Debt collection — Credit card debt
Issue: Attempts to collect debt not owed — Debt is not yours
Company: Spring Oaks Capital, LLC
State: FL

Complaint narrative:
Date : XX/XX/XXXX. 
To : Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX XXXX XXXX, IA XXXX Re : Formal Complaint and Dispute Inaccurate and Improperly Verified Account Reporting XXXX XXXX XXXX Account XXXX. : XXXX Complainant : XXXX XXXX XXXX XXXX  Subject : XXXX Failure to Properly Investigate Account Ownership and Accuracy Violation of FCRA and CFPB Enforcement Standards ( CFPB XXXXXXXX XXXX XXXX  XXXX, XXXX ) To Whom It May Concern, I am filing this complaint and dispute concerning an account reported by XXXX XXXX XXXX and handled by XXXX, which contains inaccurate and incomplete information and was verified without proper investigation. 
The disputed account appears as follows : Account Number : XXXX Status : Closed {$4500.00} written off Credit Limit : {$3300.00} Highest Balance : {$5300.00} Date Opened : XX/XX/XXXX Status Updated : XX/XX/XXXX Reported Late Payments : XXXX  days late, ending in a charge-off ( CO ) Comments : Purchased by another lender Company sold to Spring Oaks Capital This reporting raises multiple legal issues : 1. Ownership and Furnisher Responsibility : The account shows Purchased by another lender, identifying Spring Oaks Capital as the current owner. However, XXXX XXXX XXXX continues to appear as the reporting furnisher. Under 15 U.S.C. 1681s-2 ( a ), only the legal owner or servicer of the debt may furnish information to consumer reporting agencies. This inconsistency calls the entire tradelines accuracy and legitimacy into question. 
2. Failure of Proper Verification by XXXX XXXX Despite prior disputes, XXXX verified this account as accurate without providing documentation or validation from either XXXX XXXX XXXX  or Spring Oaks Capital. This is a violation of 15 U.S.C. 1681i ( a ), which requires a reasonable reinvestigation and communication of all relevant information to the furnisher. 
3. Connection to CFPBs Enforcement Findings : On XX/XX/XXXX, the CFPB filed suit against XXXX  ( CFPB XXXX XXXX XXXXXXXX XXXX XXXX XXXX ) for : o Conducting sham investigations instead of lawful reinvestigations ; o Using faulty intake procedures that ignored consumer documentation ; o Accepting unverified or illogical responses from furnishers ; and o Failing to prevent the reinsertion of deleted or inaccurate tradelines. 
My dispute aligns exactly with the patterns identified in that enforcement action. XXXX verification of an account with unclear ownership and incomplete documentation constitutes the same type of unlawful conduct cited by the CFPB. 
4. Failure to Ensure Accuracy and Integrity : XXXX continued publication of this accountdespite conflicting ownership, a XXXX balance, and a charge-off by a prior creditorshows a disregard for its duties under the Fair Credit Reporting Act ( FCRA ) and the Consumer Financial Protection Act ( CFPA ). 
Because XXXX  has failed to verify ownership, documentation, and accuracy, I respectfully request that the CFPB : 1. Open an investigation into XXXX handling of this XXXX XXXX XXXX account ; 2. Require XXXX to obtain and provide documentation from both XXXX XXXX XXXX and Spring Oaks Capital verifying the validity and ownership of the account ; 3. Order deletion or full correction of this tradeline if the reporting party can not be lawfully verified ; and 4. Ensure XXXX compliance with the standards and corrective measures identified in the CFPBs XX/XX/XXXX enforcement action. 
This inaccurate reporting has caused ongoing harm to my credit profile and may mislead creditors and lenders about my financial responsibility. I request that this matter be investigated promptly and fully. 
Sincerely, XXXX XXXX XXXX XXXX, FL XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation