Consumer complaint received 2024-11-07 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: EQUIFAX, INC.
State: FL

Complaint narrative:
XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX RE : Response to CFPB Complaint # XXXX Equifaxs Unsubstantiated Debt Verification To Whom It May Concern : This letter is a formal response to Equifaxs insufficient XXXX dated XX/XX/year>, regarding CFPB Complaint # XXXX. Equifax has asserted that it verified with XXXX XXXX XXXX that an alleged debt ( Account # XXXX / XXXX ) belongs to me. This claim was made without the required proof of validation or lawful authority over the debt. Equifax 's verification, based solely on Portfolio Recoverys billing statement, is not only inadequate but also violates my rights under federal law, including the Fair Credit Reporting Act ( FCRA ) and the Fair Debt Collection Practices Act ( FDCPA ). 

1. Requirement for Debt Validation under FDCPA, Section 809 ( 15 U.S.C. 1692g ) Under Section 809 of the Fair Debt Collection Practices Act ( FDCPA ), a consumer has the right to request validation of any debt claimed by a debt collector. To meet this standard, a debt collector must provide proof that it has legitimate ownership or legal assignment of the debt in question. This proof generally includes the original contract, chain of title, and assignment documents if the debt has been sold. 

I have repeatedly requested that XXXX XXXX provide a valid assignment contract or similar documentation demonstrating legal ownership of the debt. To date, they have failed to provide this information, which is a direct violation of 15 U.S.C. 1692g, as they have only supplied billing statements, not sufficient to verify the debts legitimacy. This violation calls into question the accuracy and completeness of any verification process Equifax conducted.

2. Requirement for Legal Assignment Documentation under FDCPA, Section 807 ( 15 U.S.C. 1692e ) Equifax 's reliance on an unsubstantiated claim by XXXX XXXX also conflicts with FDCPA Section 807, which prohibits debt collectors from using deceptive or misleading representations regarding the validity of a debt. The assignment contract is an essential legal document proving XXXXXXXX XXXX ownership or assignment rights over the alleged debt. Failure to provide this document is not only a violation of FDCPA regulations but is also grounds for questioning XXXX process in confirming the validity of this debt. 

Equifax must recognize that it can not simply rely on a billing statement alone for debt verification. In light of these regulatory requirements, XXXX failure to demand full and complete validation before reporting the debt constitutes a lapse in adherence to debt verification requirements. 

3. Inaccurate Reporting of Consumer Information under the FCRA, Section 623 ( 15 U.S.C. 1681s-2 ) The Fair Credit Reporting Act ( FCRA ) Section 623 mandates that information furnished to consumer reporting agencies must be accurate and complete. Any inaccuracies or unsubstantiated information reported by Equifax are in violation of 15 U.S.C. 1681s-2 ( b ), which obligates Equifax to conduct a thorough investigation and verify the legitimacy of the data it receives. By continuing to report this alleged debt without obtaining necessary validation from XXXX XXXX, Equifax is in direct violation of this provision. 

Inaccurate reporting not only misrepresents my financial standing but also results in harm to my credit score and reputation. XXXX role as a credit bureau demands a higher level of scrutiny and compliance with the FCRA, including validation of all information reported by third-party collectors such as XXXX XXXX. 

Demand for Action and Next Steps Equifax must provide specific and documented proof of how it validated this alleged debt, including : 1. Verification documents outlining XXXX XXXX legal ownership and assignment contract for this account. 
2. A record of all communications and documents Equifax received and reviewed in its investigation of this debt.

3. A statement confirming the methodology and legal basis by which this debt was verified. 

Absent these records, Equifax has no grounds for reporting this alleged debt. If Equifax continues to allow inaccurate information to remain on my credit report, I will not hesitate to pursue all available remedies through regulatory and legal channels. Equifax must comply with its responsibilities under the FDCPA and FCRA, as failure to do so may result in further complaints, additional investigations, and potential legal action for damages. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation