Consumer complaint received 2025-04-12 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: Valon Technologies, Inc.
State: NV

Complaint narrative:
On XX/XX/year>, Valon Mortgage reported my mortgage as " paid off '' on my credit report. I was in an active bankruptcy at the time, and no notification or explanation was provided. Then, without my authorization, Valon updated the credit entry to include " XXXX XXXX '' as the investor and later reported new late payments all without any disclosures as required by law. 

These unauthorized changes were made without notifying me, violating : TILA ( 12 CFR 1026.39 ) Failure to notify of ownership/servicer transfer FCRA ( 15 U.S.C. 1681s-2 & 1681i ) Failure to provide accurate information or correct errors Nevada Law ( NRS 598.0923 ) Deceptive credit reporting after an account was listed as paid Bankruptcy Stay ( 11 U.S.C. 362 ( a ) ) Reporting derogatory info during an active bankruptcy now its being reported as late payments I request the CFPB to investigate Valon for these inconsistent updates and require them to restore the correct reporting and issue penalties for the violations. 
the following was mailed to valon AFFIDAVIT OF TRUTH I, ___________________________________, the undersigned affiant, being duly sworn on oath, deposes and says that : 1. I affirm that I am an officer of XXXX, the financial institution claiming to be in possession of a credit application and/or promissory note ( security ) in the name XXXX XXXX XXXX XXXX XXXX ) in the original, principal amount of $ _____________________. ( Attach certified copy of security ) XXXX. I affirm that I am authorized to execute this affidavit on behalf of the financial institution and to bind the same to its provisions. 
XXXX. I affirm that the financial institution is authorized by the Secretary of State of Nevada to conduct business in the State of Nevada. ( Attach a certified copy of business license ) 4. I XXXX  that the financial institution is authorized to use Borrowers NAME in commerce. 
( Attach a certified copy of license agreement ) XXXX. I affirm that my financial institution is governed by the XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ). 
XXXX. I affirm that my financial institution completed an Application Package for U.S. Borrowers from Federal Reserve Banks Operating Circular No. 10 on behalf of Borrower in connection with this financial transaction. ( Attach certified copy of application package ) XXXX. I affirm that my financial institution did extend funds secured from the Federal Reserve Bank to Borrower.

8. I affirm that my financial institution did not extend funds secured from the Federal Reserve Bank to Borrower as a loan from my financial institution.

9. I affirm that my financial institution used its own money as adequate consideration to purchase Borrowers security and extended its own credit to Borrower.

10. I affirm that my financial institution follows GAAP ( Generally Acceptable Accounting Principles ), including but not limited to, the matching principle and as such, recorded the promissory note as an asset of the bank resulting in a new liability of the bank according to the bookkeeping entries.

11. I affirm that, if requested by Borrower, my financial institution will conduct a forensic audit of Borrowers account to ensure compliance with GAAP.

12. I affirm that my financial institution gave full disclosure of the terms and conditions of the loan agreement to Borrower.

13. I affirm that the intent of the loan agreement requires the party who funded the loan ( lender ) to be paid/repaid the money plu
s interest by the party who borrowed the funds ( borrower ).

14. I affirm that my financial institution did not make its loan agreement with Borrower beyond the scope of its XXXX  to bind Borrower to an unconscionable contract. 
XXXX. I affirm that the documentation submitted with XXXX XXXX XXXX is certified, bona fide verifiable evidence of a financial obligation owed to the financial institution by Borrower.

I execute this affidavit on behalf of the financial institution under my full commercial liability under penalty of perjury.

Company response to consumer: Closed with explanation