Consumer complaint received 2024-11-26 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with fees charged
Company: Veros Credit, LLC
State: CA

Complaint narrative:
Subject : Complaint Against Veros Auto Loan for Fraud, Unauthorized Debt Sale, and Consumer Rights Violations To Whom It May Concern, I am submitting this complaint to address significant violations of federal and state consumer protection laws by Veros Auto Loan, including fraudulent contract alteration, unauthorized debt sale, unlawful repossession, and inaccurate credit reporting. These actions have caused emotional distress, financial harm, and credit damage. 

Background Information Original Dealer : XXXXXXXX XXXX XXXX Current Creditor : XXXXXXXX XXXX Loan Account Number : XXXX Vehicle Information : XXXXXXXX XXXX  Incident Dates : Initial purchase on XX/XX/XXXX repossession dates : XX/XX/XXXX Violations Identified Fraudulent Contract Alteration The retail installment contract ( XXXX ) contains a forged signature. 
My signature was altered to reflect me as the primary borrower rather than the co-signer, without my consent. 
This is a violation of the Truth in Lending Act ( TILA ) ( 15 U.S.C. 1601 et seq. ), which requires full disclosure and proper authorization for contracts. 
Unauthorized Sale of Debt Without Consent XXXX XXXX XXXX sold the vehicle financing contract to Veros Auto Loan without informing or obtaining my consent. 
This action violates 15 U.S.C. 1639 under TILA, which requires clear communication and consumer consent for debt sales.

Unlawful Repossession and UCC Violations Veros Auto Loan repossessed my vehicle twice : After the first repossession, I paid to recover the vehicle.

The second repossession occurred without proper notice or compliance with Uniform Commercial Code ( UCC ) Article 9 provisions governing secured transactions. 
The vehicle was sold without notifying me, further violating state repossession laws. 
Inaccurate Credit Reporting Veros Auto Loan falsely reported the account on my credit report with a " Charge-Off '' status and ongoing delinquencies, despite disputes and evidence of fraud.

These actions violate the Fair Credit Reporting Act ( FCRA ) ( 15 U.S.C. 1681 et seq. ), which mandates accurate and fair credit reporting practices. 
Veros only removed the debt from my credit report in XX/XX/XXXX, coinciding with the filing of my lawsuit. 
Consumer Harm and Emotional Distress These actions caused significant financial hardship, including loss of transportation, emotional distress, and damage to my credit score, resulting in denials of credit and higher interest rates.

Relief Sought To address these violations, I am requesting the following : Compensation for Financial and Emotional Damages : Full reimbursement of all payments made to Veros Auto Loan.

Compensation for the value of the repossessed vehicle and the financial harm caused by loss of transportation.

Additional compensation for emotional distress caused by fraudulent and unlawful actions.

Verification of Debt Sale and Contract : A detailed explanation of the debt sale, including documentation of consumer consent and the terms of the sale.

Verification of the contract, including proof of my original signature and authorization for the financing agreement.

Immediate Correction of Credit Reporting : Permanent removal of all negative entries related to this account from my credit report.

Written assurance that the account will not reappear on my credit report.

Assurance of Compliance : Veros Auto Loan must implement policies to prevent fraudulent practices, unauthorized debt sales, and improper repossessions.

Written acknowledgment of violations and corrective actions taken to ensure compliance with FCRA, TILA, and UCC laws. 
Oversight and Penalties : Request for CFPB oversight of Veros Auto Loans practices. 
Potential penalties for violations of federal and state consumer protection laws. 
Supporting Documents Attached : Copy of the fraudulent contract showing altered signatures. 
Payment records to Veros Auto Loan.

Correspondence with Veros Auto Loan regarding disputes and repossessions.

Copies of credit reports showing inaccurate reporting.

Previous CFPB complaint responses from Veros Auto Loan.

I request a thorough investigation into these matters and resolution within the timeframes specified by the CFPB. Please contact me for any additional information or clarification needed to expedite the investigation. 

Sincerely, XXXX XXXX XXXX XXXX XXXX, # XXXX XXXX, CA XXXX XXXX XXXX other complaintBackground Information Original Dealer : XXXX XXXX XXXX XXXX XXXX XXXX. 
Creditor : Veros Auto Loan Account Number : XXXX IVehicle Information : XXXX XXXXXXXX XXXXr Key Dates : Vehicle Purchase : XX/XX/XXXX First Repossession : XX/XX/XXXX Second Repossession : XX/XX/XXXX Vehicle Sold at Auction : XXXX XXXX Violations Identified 1. Fraudulent Contract Alteration The Retail Installment Sales Contract ( XXXX ) contains a forged signature, with my role altered from co-signer to primary borrower without my knowledge or consent. 
This constitutes fraud under federal and state law, rendering the contract invalid and unenforceable. 
Veros Auto Loan continues to claim this contract is valid, in violation of the Truth in Lending Act ( TILA ) ( 15 U.S.C. 1601 et seq. ), which requires full disclosure and accurate documentation.

2. Invalid Debt Assignment Without Notification XXXXXXXX XXXX XXXX XXXX XXXX sold my financing agreement to Veros Auto Loan without my knowledge or consent, violating 15 U.S.C. 1639 of TILA.

I was not notified of this transaction or provided any explanation of the terms under which Veros Auto Loan acquired my account.

3. Unlawful Repossession and Sale Without Notice Veros Auto Loan repossessed my vehicle twice : I made payments to recover the vehicle after the first repossession.

The second repossession occurred without proper notice, and the vehicle was subsequently sold at auction without informing me, violating Uniform Commercial Code ( UCC ) Article 9.

4. Failure to Provide Validation of Debt Despite repeated requests, Veros Auto Loan has failed to provide a valid contract or documentation proving their authority to collect on the debt.

Their response to previous disputes included an invalid RISC, highlighting discrepancies in signatures and terms, further violating the Fair Debt Collection Practices Act ( FDCPA ) ( 15 U.S.C. 1692g ).

5. Inaccurate Credit Reporting Veros reported the account as delinquent monthly, showing a " Charge-Off '' status, despite ongoing disputes and lack of a valid contract.

These actions violate the Fair Credit Reporting Act ( FCRA ) ( 15 U.S.C. 1681s-2 ), which mandates accurate and verifiable reporting by furnishers of credit information.

6. Consumer Harm and Emotional Distress Veros Auto Loans fraudulent and unlawful actions caused : Financial losses due to payments made under duress.

Loss of transportation and diminished quality of life.

Emotional distress due to repeated repossessions and credit damage.

Relief Sought Immediate Debt Validation and Investigation : Veros must provide a valid, signed copy of the RISC or other documentation proving their legal right to collect on this account.

Permanent Removal of Negative Credit Reporting : Veros must cease reporting the fraudulent account to credit bureaus and ensure its removal from all credit reports.

Compensation for Financial and Emotional Damages : Full reimbursement for payments made to Veros Auto Loan under the disputed contract.

Compensation for the loss of the vehicle and transportation. 
Damages for emotional distress caused by repeated repossessions and credit damage.

Assurance of Compliance : Veros Auto Loan must implement policies to prevent fraudulent contract practices and unlawful debt collection in the future.

Oversight and Penalties : Request CFPB oversight of Veros Auto Loans practices and impose penalties for violations of consumer protection laws.

Supporting Documents Attached : Copies of the fraudulent RISC showing altered signatures.

Payment history to Veros Auto Loan.

Correspondence with Veros Auto Loan regarding disputes.

CFPB complaint responses from Veros Auto Loan.

Credit reports reflecting inaccurate reporting.

I request a thorough investigation into this matter and resolution within the required timeframes. Please contact me if further clarification or additional documentation is needed. 

Sincerely, XXXX XXXX XXXX XXXX XXXX, # XXXX XXXX, CA XXXX XXXX XXXX XXXX

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