Consumer complaint received 2025-06-20 00:00:00
Product: Debt collection — Other debt
Issue: Attempts to collect debt not owed — Debt was paid
Company: Kikoff Inc.
State: CA

Complaint narrative:
Kikoff charged off my account and reported it as a delinquency.They failed to provide : A valid signed agreement or contract Proof of value given or risked capital ( UCC 3-303 ( b ) ) A 1099-C form, despite cancellation of debt implications ( 26 U.S.C. 6050P ) GAAP-compliant accounting or ledger showing the basis for the {$200.00} balance Any confirmation they are a lawful creditor with standing Their continued furnishing of negative credit data without proper verification violates : 15 U.S.C. 1681s-2 ( b ) Duty to investigate and correct 15 U.S.C. 1681i Failure to properly reinvestigate when disputed 15 U.S.C. 1601 et seq. Failure to disclose key credit terms under TILA UCC 3-303 No proof of value given for the credit extended

1. No Lawful Consideration Was Given ( UCC 3-303 ) According to the Uniform Commercial Code, a note or agreement is not enforceable unless value was given. Your reporting presumes I was extended lawful credit. However, I have not been shown any records that prove Kikoff risked its own capital. There is credible reason to believe : My signature alone created a
funding instrument, and The furnisher booked this as a receivable or asset, Without extending actual funds of their own. 

If no value was given, no valid debt exists. Therefore, no late payment can lawfully arise. 

2. Failure to Verify Debt or Validate Reporting ( 15 U.S.C. 1681s-2 ( b ) ) I previously submitted a written dispute of this tradeline. As of this date : No documents have been provided proving the legitimacy or origin of the debt, No accounting has been provided showing value given, And yet the late payment continues to be reported as accurate.

This constitutes a failure to conduct a lawful reinvestigation and a violation of your duty as a furnisher under the Fair Credit Reporting Act.

3. Failure to Redeem Commercial Value Created by Me ( FINRA Rule XXXX Analogy ) In capital markets, when one party receives value ( like a coupon or dividend ) they didnt earn, a due bill is issued. Failure to redeem it allows the true owner to issue a fail to receive notice and buy-in at the wrong partys expense.

Here : I originated value via my signature, The lender received the financial benefit, But never redeemed or credited me appropriately.

By reporting me as late, Kikoff is falsely converting the economic record to suggest I was delinquent when in fact, they dishonored the value I provided.

4. GAAP and Regulatory Violations ( 12 U.S.C. 1831n ) If Kikoff is a federally insured institution, it is legally obligated to maintain truthful accounting and financial records. The failure to produce any : General ledger entries, Receivable recordings, Accounting of disbursements, renders their reporting unverified and potentially fraudulent under GAAP and federal law.

II. DEMAND FOR ACTION Pursuant to 15 U.S.C. 1681i and 1681s-2, I now demand the following : 1. Immediate deletion of the alleged late payment ( s ) as unverified and inaccurate ; 2. Written confirmation of the investigation and results within 30 calendar days ; 3. Copies of all documents used by Kikoff to verify the account, value given, and payment history. 

Failure to comply will result in : complaints with State Attorney General, and Federal Trade Commission ; Consideration of civil litigation for actual damages, willful misreporting, and violations of FCRA and UCC.

All rights reserved, UCC 1-308 / UCC 1-103.6 XXXX XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation