Consumer complaint received 2026-05-19 00:00:00
Product: Debt collection — Other debt
Issue: False statements or representation — Attempted to collect wrong amount
Company: Velocity Portfolio Group
State: VA

Complaint narrative:
Velocity Investments LLC is continuing collection activity on a debt that was settled in full in XXXX. The underlying debt is a XXXX Bank account ( original XXXX account number XXXX ) originated through XXXX in XX/XX/XXXX, with an original balance of approximately {$20000.00} and a charge-off balance of {$17000.00}. This account was settled in full on XX/XX/XXXX through XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( their file XXXX ) for a lump sum payment of {$11000.00}. Velocity Investments LLC purchased the charged-off account from Upstart and has retained XXXX XXXX XXXX XXXX as the collection servicer and XXXX and XXXX as the legal servicer. Despite the XX/XX/XXXX settlement, XXXX XXXX continues to report this debt as unpaid with a balance of {$17000.00} on myXX/XX/XXXXcredit report. I previously filed CFPB Complaint XX/XX/XXXXXXXX against XXXX XXXX on XX/XX/XXXX. XXXX responded on XX/XX/XXXX claiming " the account numbers are different '' but refused to disclose : ( XXXX ) their account number, ( XXXX ) the original XXXX account number they claim to be collecting on, ( XXXX ) the original loan origination date, or ( XXXX ) the chain of assignment from XXXX Bank to current ownership. Evidence this is the SAME settled debt : Balance match : XXXXXX/XX/XXXXclaimed {$17000.00} is within 1.7 % ( {$290.00} ) of the XXXX XXXX XXXX XXXX settled balance of {$17000.00}. This difference is consistent with post-settlement interest accrual on the same debt, not a separate debt. Date of first delinquency match : XXXX reports a date of first delinquency of XX/XX/XXXX. The XXXX loan XXXX ( opened XX/XX/XXXX ) defaulted in late XXXX this matches exactly. I had aXX/XX/XXXXbacked loan XX/XX/XXXX origination, account XXXX, opened XX/XX/XXXX ) with a date of first delinquency in XXXX, which would NOT match XXXXXX/XX/XXXX reported XX/XX/XXXX XXXX. This forensically points to the XXXX loan XXXX as the debt XXXX claims, which is the same XXXX settled. Debt-buyer chain : The chain isXX/XX/XXXX Bank ( lender ) XX/XX/XXXX ( originator ) Velocity Investments LLC ( debt buyer ) XX/XX/XXXXXXXX ( collection servicer ) XXXX and XXXX ( legal servicer ). XXXX XXXX & XXXXXX/XX/XXXXclient at the time of the XX/XX/XXXX settlement was therefore Velocity Investments LLC ( or a predecessor ), which is the same entity now collecting through XXXX. Selective bureau reporting : XXXX reports this debt only on XX/XX/XXXX. It does not appear on XX/XX/XXXX or XX/XX/XXXX. Legitimate active collections are typically furnished to allXX/XX/XXXX bureaus. ThXX/XX/XXXX report shows the underlying XX/XX/XXXXtradeline ( XXXXXX/XX/XXXX) marked " Settled - less than full balance, '' which is consistent with the XXXX settlement . I am preparing to apply for a home mortgage and the continued false reporting by XXXX on behalf of Velocity Investments is materially harming my XX/XX/XXXX credit profile. This conduct violates : FDCPA XXXX ( false or misleading representations regarding the character, amount, or legal status of a debt ) FDCPA XXXX ( unfair or unconscionable means to collect a debt ) FCRA XXXX ( a ) ( furnishing inaccurate information to a consumer reporting agency ) FCRA XXXX ( b ) ( failing to conduct a reasonable investigation after dispute )

Company response to consumer: Closed with explanation