Consumer complaint received 2025-03-17 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: Spring Oaks Capital, LLC
State: FL

Complaint narrative:
XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX, Fl, XXXX [ Date : XX/XX/XXXX ] XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX, GA XXXX Subject : Formal Dispute Under XXXX XXXX XXXX Standards and 15 U.S.C. 1681i To Whom It May Concern, I am writing to formally dispute the reporting of the account listed below, pursuant to the Fair Credit Reporting Act ( FCRA ), specifically under 15 U.S.C. 1681i, and the XXXX XXXX Compliance Standards mandated by the Consumer Data Industry Association ( XXXX ). This letter is not a standard dispute but a demand for a XXXX XXXX compliance- based investigation to ensure full adherence to federal regulations governing credit reporting accuracy. 
The account in question is as follows : Account Details : Creditor Name : Spring Oak Capital Account Number : XXXX High Balance : {$9700.00} Balance Owed : {$9700.00} Date of Last Activity : XX/XX/XXXX Date Reported : XX/XX/XXXX Date Opened : XX/XX/XXXX Account Status : Open Account Rating : Derogatory Creditor Remarks : Placed for Collection XXXX XXXX Compliance Requirements Under the XXXX XXXX standards, data furnishers are required to provide complete and accurate data in all fields. I demand that you : 1. Conduct a full investigation using the XXXX system to verify that all reporting fields comply with the XXXX XXXX format and guidelines. 
2. Ensure that the data is accurate, complete, and verifiable as required by law. 
3. Provide proof that all reporting codes ( e.g., account status, payment status, dates, remarks ) meet the XXXX XXXX compliance standards. 
4. The methodology used to verify the accuracy of the information in this account. Under section 611 ( a ) of the FCRA FCRA and Federal Data Accuracy Obligations Under 15 U.S.C. 1681i, you are required to : 1. Perform a reasonable reinvestigation of this disputed information. 
2. Verify the accuracy and completeness of all reported data. 
3. Delete or correct any information that can not be verified or that is found to be inaccurate. 

2 Under 15 U.S.C. 1681s-2, the data furnisher, Spring Oak Capital, is prohibited from reporting inaccurate or incomplete information. If they are unable to provide verifiable proof of compliance with XXXX XXXX standards, this account must be corrected or removed. 
Specific Issues with the Account The following discrepancies require your immediate attention and resolution : 1. Date of Last Activity and Date Reported : The dates provided conflict with my records, and I demand a thorough review of their accuracy.

2. Account Status and Creditor Remarks : The & quot ; Open & quot ; status and & quot ; Placed for Collection & quot ; remarks are inconsistent. I demand validation and correction of these fields. 
3. Balance Owed and Past Due Amount : The balance reported is questionable and must be verified to ensure compliance with XXXX XXXX standards. 
My Expectations I am requesting a XXXX XXXX compliance audit of this account. If the data can not be verified as accurate, complete, and compliant with federal regulations, this account must be removed from my credit file immediately. Further, I request that you provide me with : 1. A detailed explanation of the investigation process, including how the information was verified and by whom. 
2. A copy of the results of the investigation.

3. Documentation from the data furnisher ( Spring Oak Capital ) that demonstrates compliance with XXXX XXXX standards and the FCRA. 
30-Day Response Deadline As mandated under the FCRA, you have 30 days from the date of receipt of this letter to complete your investigation and provide me with a written response. Failure to comply with your legal obligations will result in a formal complaint with the Consumer Financial Protection Bureau ( CFPB ), as well as potential legal action to enforce my rights under federal law. 
Notice of Intent to Escalate If this matter is not resolved promptly and accurately, I will also notify the State Attorney General, the Federal Trade Commission ( FTC ), and pursue all remedies available to me under the FCRA.I trust that you will treat this matter with the urgency it deserves. 
Sincerely, XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation