Consumer complaint received 2026-01-09 00:00:00
Product: Debt collection — Credit card debt
Issue: Attempts to collect debt not owed — Debt is not yours
Company: Self Financial Inc.
State: MA

Complaint narrative:
XXXX : Self Financial , Inc. / Lead Bank Account Name as Reported : SELF FINANCIAL / LEAD BANK Account Type : Secured Credit Card Responsibility : Individual Account Number : XXXX Date Opened : XX/XX/XXXX Reported Status : Account Charged Off Reported Balance : {$290.00} Charge-Off Amount : {$290.00} written off Past Due Amount : {$290.00} past due as of XX/XX/XXXX Status Last Updated : XX/XX/XXXX Complaint Summary I am formally disputing the accuracy, legality, and continued reporting of the above-referenced secured credit card account. 

This complaint constitutes my first formal request for full accounting records and documentary proof establishing that this alleged obligation is valid, lawfully owned, and accurately reported. I have never previously requested, nor been provided, the documentation demanded below. 

This account is reported as charged off while continuing to show a balance allegedly owed. Because this was a secured credit card, the furnisher must demonstrate how the pledged collateral was applied, whether any loss actually occurred, and whether continued reporting of a balance is accurate. 



Key Issue Secured Account Improperly Reported A secured credit card requires the consumer to provide collateral or a security deposit. Before any charge-off balance may be reported, the furnisher must show : How the security deposit was held How and when the deposit was applied Whether the deposit fully or partially satisfied the obligation Whether any actual economic loss remained after application of collateral Absent this proof, continued reporting of a charged-off balance is inaccurate and misleading.

Specific Demands for Documentation ( First Formal Request ) I now request that the furnisher produce the following documentation within the CFPB investigation period : 1. Full Accounting Ledger A complete transactional ledger from account origination through charge-off All debits, credits, interest, fees, adjustments, write-downs, and reversals Reconciliation showing how the {$290.00} charged-off balance was calculated 2. Security Deposit / Collateral Accounting Proof of the original security deposit amount Documentation showing how the deposit was held and maintained Evidence of how, when, and where the deposit was applied Proof showing whether the deposit satisfied all or part of the alleged balance 3. Evidence of Disbursement of Funds Proof of actual credit extension beyond the secured deposit, if any Identification of the funding source Evidence that Lead Bank or Self Financial had capital at risk beyond consumer collateral 4. Charge-Off Documentation & Loss Recognition Provide all records related to the charge-off, including : Exact charge-off date Internal charge-off approval records Evidence of actual economic loss after application of collateral Documentation showing compliance with : ASC 310 ( Receivables Recognition and Measurement ) ASC 860 ( Transfers and Servicing of Financial Assets ) Including proof showing whether the receivable was : Written down Written off Derecognized Sold, transferred, or securitized 5. Chain of Title & Proof of Ownership Complete chain of title from origination to present All assignments, transfers, sales, pledges, or securitization events Identification of the current legal owner of the receivable 6. Securitization & Third-Party Transfers All securitization filings, pooling and servicing agreements, or trust disclosures Disclosure of whether this secured receivable was included in any asset-backed security 7. Servicing Authority Proof the entity reporting the account has current legal authority to service, collect, and report Copies of any servicing or sub-servicing agreements 8. Double Recovery Prohibition Because this was a secured account, the furnisher must provide proof that no double recovery occurred through : Retention or application of the security deposit Insurance proceeds Tax deductions Continued collection or reporting of a balance 9. Contract & Signature Validity Proof of a valid, enforceable agreement Wet-ink signature evidence, if claimed Disclosure that electronic signatures alone do not establish ownership, funding, or standing Evidence that any electronic agreement satisfies evidentiary standards for enforcement and credit reporting Reporting Dispute Absent production of the above documentation, the furnisher can not lawfully continue reporting this account as a valid, owed, or collectible obligation.

Reporting a charged-off balance on a secured credit card without proof of collateral application, ownership, loss recognition, and authority constitutes inaccurate and misleading credit reporting.Final Notice This complaint places the furnisher on notice that continued reporting of a charged-off secured account without proof of collateral application, ownership, and loss recognition is inaccurate and misleading.

I respectfully request CFPB intervention to compel compliance and prevent further consumer harm.

Company response to consumer: Closed with explanation