Consumer complaint received 2024-10-16 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: Bread Financial Holdings, Inc.
State: TN

Complaint narrative:
Subject : Follow-Up Complaint Regarding Inaccurate Reporting of Securitized Charge-Off Account by Comenity Capital Bank Account XXXX XXXX XXXX Dear Consumer Financial Protection Bureau XXXX This letter serves as a follow-up to my previous complaint regarding the inaccurate reporting of a charge-off account on my credit report, associated with account number XXXX. Despite my formal request for validation and removal of this account due to the securitization of the debt, the furnisher has not taken appropriate action to address this issue. 

To date, I have not received the required documentation proving continued ownership of the debt or any confirmation that the debt has been properly transferred. Under the Fair Credit Reporting Act ( FCRA ), it is my right to have accurate and verifiable information reported on my credit profile, and the failure to provide this information constitutes a violation of my consumer rights. 

I am reiterating my request for the following : 1. Immediate Removal of the Charge-Off : The furnisher has failed to establish legal ownership of this debt or demonstrate their right to report it. I am demanding the immediate removal of this charge-off from my credit report.

2. Verification of Ownership and Documentation : If the furnisher continues to claim ownership of this debt, they are required to provide the full chain of assignment contracts, including proof of securitization and any related documentation. Without these, continued reporting of this account is unlawful under both the FCRA and Fair Debt Collection Practices Act ( FDCPA ). 

XXXX. Legal Precedent : As outlined in my prior communication, court rulings ( such as In re Veal, 450 B.R. 897 ( 9th Cir. BAP 2011 ) ) establish that a creditor who has securitized a debt no longer retains ownership. Without proper documentation of ownership, the reporting of this charge-off must be deemed inaccurate and removed. 

Additional Violations : The furnisher 's ongoing reporting of this charge-off without validation violates the FCRA ( 15 U.S.C. 1681 s-2 ), which requires furnishers to ensure the accuracy of the information reported to credit bureaus. Additionally, this may also constitute a violation of the FDCPA ( 15 U.S.C. 1692e ), which prohibits false representation of the character, amount, or legal status of a debt. 

Request for Reinvestigation and Legal Consequences : I am formally requesting that the credit reporting agencies conduct a reinvestigation of this account under 15 U.S.C. 1681 i. If the furnisher can not provide valid documentation supporting their right to report the debt, I expect the charge-off to be removed. 
Furthermore, I reserve the right to seek damages up to {$1000.00} per violation under the FCRA for continued inaccurate reporting, as well as any actual damages resulting from this misreporting. I am prepared to take legal action to pursue damages, including harm to my credit score and any denial of credit, for up to {$5000.00} if this issue is not resolved.

Requested Resolution : Immediate removal of the charge-off from my credit report.

Provision of all relevant assignment contracts and proof of ownership. 
Compensation for damages if applicable, up to {$5000.00} for ongoing violations of my rights. 

Please address this issue and provide a response within 15 days of receipt of this letter. Failure to comply will result in further legal action. 
Thank you for your prompt attention to this matter. I look forward to your immediate response. 

Sincerely, XXXX XXXX XXXX Hacks XXXX XXXX XXXX XXXX XXXX  XXXX XXXX, TN XXXX XXXX XXXX

Company response to consumer: Closed with explanation