Consumer complaint received 2025-03-08 00:00:00
Product: Debt collection — Other debt
Issue: Took or threatened to take negative or legal action — Sued you without properly notifying you of lawsuit
Company: Tower Loan of Mississippi, Inc.
State: TX

Complaint narrative:
CFPB COMPLAINT Respondents : 1. XXXX XXXX XXXX XXXX XXXX XXXX ) 2. Tower Loan 3. Gulfco of Louisiana, LLC d/b/a Tower Loan 4. XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX XXXXXXXX XXXX XXXX XXXX XXXX  ) Violations of Law : Misrepresentation of the True Creditor 15 U.S.C. 1692e ( 2 ) ( A ) ( False or misleading representations in debt collection ) Failure to Provide Debt Validation 15 U.S.C. 1692g ( FDCPA ) Fraudulent Misrepresentation of Debt Transfer & Charge-Off UCC Article 9 & UCC 3-305 ( Holder in Due Course Defenses ) Failure to Notify All Co-Obligors Prior to Legal Action Louisiana Code of Civil Procedure Art. 730 Potential IRS Tax Violations Related to Charge-Off Reporting 26 U.S.C. 6050P Debt Collector Misrepresentation & False Pretenses in Collection Efforts 15 U.S.C. 1692e & Louisiana R.S. 9:3562 ( Misrepresenting the Right to Collect a Debt ) DETAILED COMPLAINT ALLEGATIONS : 1. Misrepresentation of the True Creditor ( Violations of 15 U.S.C. 1692e ( 2 ) ( A ) & UCC 3-305 ) The original loan agreement was between the complainant and Tower Loan, yet legal action was initiated under Gulfco of Louisiana, LLC d/b/a Tower Loan, creating uncertainty in creditor identity. 
Tower Loans XX/XX/XXXX, CFPB response failed to disclose that Gulfco of Louisiana, LLC d/b/a Tower Loan is now attempting to collect on the debt.

Louisiana Civil Code Art. 1839 requires assignments of obligations to be clearly documented. No verifiable proof has been provided showing a lawful transfer from Tower Loan to Gulfco of Louisiana, LLC d/b/a Tower Loan. 



2. Illegal Lawsuit Against a Joint Borrower Without Proper Notification ( Violations of FDCPA & XXXX Code of Civil Procedure Art. XXXX ) Louisiana law ( Code of Civil Procedure Art. 730 ) mandates that all co-obligors be notified before legal action is taken. 
Only XXXX borrower ( XXXX XXXX ) was sued, while the other co-borrower ( XXXX XXXX ) was never properly served, violating XXXX Civil Code Art. 1786 ( Solidary Obligations ). 
Despite a judgment being issued against XXXX XXXX only, garnishment has impacted both co-borrowers without due process. 



3. Failure to Validate Debt & Provide Chain of Title Documentation ( Violations of 15 U.S.C. 1692g, UCC Article 9 & Louisiana Civil Code Art. 1839 ) Debt validation requests were sent, yet Tower Loan, Gulfco of Louisiana, LLC d/b/a Tower Loan, and RCP have failed to provide : A certified copy of the original loan agreement Proof of lawful assignment or transfer to Gulfco of Louisiana, LLC d/b/a Tower Loan A complete chain of title audit proving standing to collect UCC Article 9-203 mandates that a secured party must show an unbroken chain of title before enforcing a debt.

4. Corporate Structuring Designed to Evade Regulation ( Violations of 15 U.S.C. 1692e & Louisiana R.S. 51:1405 Louisiana Unfair Trade Practices Act ) FT Finance Company owns both Tower Loan and Gulfco of Louisiana, LLC d/b/a Tower Loan, yet both entities operate out of the same building and switch identities to obscure legal responsibility.

Both entities file lawsuits and respond to regulators under different names, misleading consumers and violating Louisianas Unfair Trade Practices Act ( R.S. 51:1405 ).

5. Debt Collector Misrepresentation & False Pretenses in Collection Efforts ( Violations of 15 U.S.C. 1692e & Louisiana R.S. 9:3562 ) Rogers , Carter & Payne , LLC ( RCP ) is representing itself as a debt collector while initiating garnishment proceedings without verifying ownership of the debt. 
At the bottom of their correspondence, RCP clearly states : We are a debt collector. This is an effort to collect a debt and any information you give us may be used for that purpose.

This statement confirms debt collection activity, yet no proof of lawful debt ownership has been provided, violating FDCPA regulations and Louisianas debt collection laws.

Additional Issues : Dual Charge-Off Dates Conflict Tower Loan charged off this debt in XXXX, as shown in prior documentation. 
XXXX is now reporting a conflicting charge-off date of XX/XX/XXXX with a past due amount of {$6100.00}. 
This discrepancy suggests improper debt handling, potential re-aging violations ( 15 U.S.C. 1681s-2 ), and IRS tax noncompliance ( 26 U.S.C. 6050P ).

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation