Consumer complaint received 2025-12-18 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Self Financial Inc.
State: FL

Complaint narrative:
Improper Charge-Off on Closed Account & Inaccurate Credit Reporting Creditor : Self Financial / Lead Bank Account Type : Secured Credit Card Account Number : XXXX 1. Overview of Complaint I am submitting this complaint to request CFPB investigation into Self Financial / Lead Bank for improper charge-off reporting and inaccurate credit information on a closed secured credit card account. 

The account was closed, yet Self Financial continues to report a charge-off, past-due balance, and negative payment status that do not meet federal standards for accuracy, investigation, or fairness. 


2. Account Information ( As Reported ) Account Name : Self Financial / Lead Bank Account Type : Secured Credit Card Date Opened : XX/XX/XXXX Account Status : Closed Status Updated : XX/XX/XXXX Charge-Off Reported : {$250.00} Past Due Amount : {$250.00} ( as of XX/XX/XXXX ) Balance Reported : {$250.00} Credit Limit : {$720.00} Highest Balance : {$1300.00} Last Payment Date : XX/XX/XXXX XXXX. Basis of Dispute Closed Account Charge-Off Self Financial / Lead Bank is reporting this closed account as charged off with a past-due balance, which is inaccurate, misleading, and harmful for the following reasons : The account is closed, yet continues to be reported as delinquent The balance and charge-off reporting lack proper validation The reporting overstates delinquency and consumer risk No adequate notice or lawful accounting was provided prior to charge-off Reporting fails to reflect maximum possible accuracy as required by law 4. Federal Statutes & Legal Authority Violated Fair Credit Reporting Act ( FCRA ) 15 U.S.C. 1681e ( b ) Requires consumer reporting agencies and furnishers to ensure maximum possible accuracy. Reporting a charge-off on a closed account without proper substantiation violates this requirement.

15 U.S.C. 1681s-2 ( a ) ( 1 ) Prohibits reporting information a furnisher knows or should know is inaccurate.

15 U.S.C. 1681s-2 ( b ) Requires a reasonable investigation upon dispute. Continued reporting without proper verification violates this duty. 


FTC & CFPB Enforcement Standards Under FTC and CFPB guidance : Charge-offs must be factually accurate and verifiable Reporting delinquency on a closed account without lawful basis is unfair and deceptive Furnishers must promptly correct or delete inaccurate data Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) Continuing to report a charged-off balance on a closed secured account without proper validation constitutes a UDAAP violation subject to CFPB enforcement.

5. Consumer Harm As a result of this improper reporting : My credit report reflects an inaccurate charge-off My credit score has been significantly harmed My creditworthiness is misrepresented I have suffered ongoing financial harm 6. Requested CFPB Resolution I respectfully request that the CFPB require Self Financial / Lead Bank to : 1. Delete the charge-off and past-due reporting 2. Correct the account status to Closed No Balance Owed or equivalent 3. Update all credit bureaus with accurate information 4. Provide lawful accounting and validation if any balance is claimed 5. Cease all collection and reporting activity related to this account 6. Ensure compliance with FCRA and CFPB standards

Company response to consumer: Closed with explanation