Consumer complaint received 2025-11-26 00:00:00
Product: Debt collection — I do not know
Issue: Attempts to collect debt not owed — Debt is not yours
Company: Self Financial Inc.
State: MO

Complaint narrative:
What happened is that a company identified as SELFINC/LEAD, also known as Self Financial or Lead Bank XXXX is reporting a derogatory account on my credit file that does not belong to me. The account is being reported with a past-due balance of {$27.00}, multiple delinquency notations, and a negative payment history that I did not create, authorize, or participate in. I never opened any account with Self, Self Financial, or Lead Bank, and I have no relationship with this company. Despite this, the account continues to appear as a collection/charge-off under SELFINC/LEAD, and it negatively affects my creditworthiness. 

I first became aware of this account when I reviewed my credit report. The account appeared as a closed, derogatory account with late payments, including XXXX, XXXX, and XXXX delinquency marks, and a final charge-off notation showing the account was closed on XX/XX/year> with a past-due amount of {$27.00}. This small-dollar balance does not reflect any account I have ever owned, authorized, or used. I did not initiate any credit-builder loan or installment account with Self or Lead Bank, nor did I enter into any agreement or contract that would justify this account being associated with my credit file. 

Once I noticed this account, I followed the proper steps under the Fair Credit Reporting Act ( FCRA ) to dispute it. I notified the credit bureaus that the SELFINC/LEAD account was not mine and requested an investigation. I clearly explained that I had never opened an account with Self or Lead Bank and had no knowledge of this alleged debt. Under FCRA XXXX ( a ), the credit bureaus are required to conduct a reasonable reinvestigation and verify the accuracy of the information. However, instead of conducting a meaningful investigation, the credit bureaus simply marked the information as verified without providing any explanation or documentation. 

I then requested a Method of Verification ( MOV ), which is required under FCRA XXXX ( a ) ( XXXX ). The law states that when a consumer requests the method of verification, the credit bureau must disclose the procedure used to determine the accuracy of the information. This includes identifying the furnisher, describing what documentation was reviewed, and explaining how the information was validated. However, I did not receive any documentation from Self or Lead Bank, nor did the credit bureaus provide any meaningful details about how they verified the account. All I received were generic responses stating that the account was verified through the furnisher, which is not sufficient under the law. 

A true and lawful verification requires actual documentationspecifically : A signed original contract or credit application Identity verification used at the time the account was allegedly opened Loan terms or agreement documents Monthly billing statements Payment history Records of any charges, deposits, or withdrawals Account activity logs Evidence showing how the past-due amount of {$27.00} accrued Statements demonstrating delinquency or missed payments None of these documents were provided to me. None were shown to the credit bureaus. No verification was ever performed at the level required by law. 

The SELFINC/LEAD account reporting contains several indicators of inaccurate or unverified information. For example, the payment history displays multiple late payments that I could not have made because I never held this account. It also reports delinquency months that do not align with any financial activity Ive engaged in. The fact that the account contains substantial delinquency history, despite the small past-due amount, raises concerns that the account is either : a mixed file error ( someone elses account merged with mine ), a case of identity theft, erroneous reporting by the furnisher, or a clerical mistake in the XXXX XXXX XXXX system. 

In any of these scenarios, the furnisher has a legal responsibility under FCRA XXXX to ensure accuracy and to conduct a proper investigation when disputed. SELFINC/LEAD did not fulfill this obligation. 

Moreover, the account listing contains conflicting data. The reported dates, balances, and number of late payments do not add up logically. For example, multiple XXXX, XXXX, and XXXX late markers are present even though the entire past-due amount is only {$27.00}. This makes no financial sense and strongly suggests that the data being reported is inaccurate or incomplete. An account with such a small balance would not typically accumulate multiple months of nonpayment without resolution, especially when the account was ultimately charged off. 

Despite these inconsistencies, Self and the credit bureaus continue to report the account. The company 's failure to provide documentation or evidence during disputes further demonstrates that the account is not validated and should not be reported. 

In addition, SELFINC/LEAD failed to provide a full chain of assignment or ownership records. If this account was ever sold, transferred, or assigned to a third party, the law requires the furnisher to maintain records such as : bill of sale, assignment agreements, forward flow agreements, transfer logs. 

No such documents have been provided. Without proof of ownership, the furnisher can not legally report the account. 

During the dispute process, I also requested that all bureaus appropriately mark the account as disputed by consumer, as required under FCRA XXXX ( a ) ( XXXX ). In some cases, this notation was either missing or incorrectly applied. When a consumer disputes an account, the furnisher MUST mark it as disputed, or the reporting becomes misleading and violates federal law. Failure to properly mark the account as disputed is another compliance issue. 

The presence of this false account has caused significant harm to my credit score and credit profile. Because the account includes over a year of late payments and a final derogatory closing, it creates an inaccurate image of my financial behavior, damaging my creditworthiness. It has negatively affected my ability to obtain fair interest rates, qualify for credit, and apply for certain financial opportunities. The impact of derogatory informationeven with a small dollar amountcan disproportionately affect credit scores due to payment history being the most heavily weighted scoring factor. 

I have exhausted all reasonable steps available to a consumer under the FCRA. I issued disputes, requested verification, and asked for documentation. None of the furnishers or bureaus provided the required evidence. The fact remains : I do NOT own this SELFINC/LEAD account. 
I never opened it. 
I never authorized it. 
No evidence has been provided that it belongs to me. 

The continued reporting of this account, despite the lack of proper verification, violates multiple sections of the FCRA, including : XXXX ( accuracy and fairness requirements ), XXXX ( b ) ( maximum possible accuracy standard ), XXXX ( a ) ( reinvestigation requirements ), XXXX ( a ) ( XXXX ) ( MOV requirement ), XXXX ( a ) ( XXXX ) ( furnish accurate information ), XXXX ( a ) ( XXXX ) ( XXXX accounts as disputed ). 

I am filing this complaint with the Consumer Financial Protection Bureau because the dispute process through the credit bureaus and SELFINC/LEAD has failed. Neither party has provided the legally required evidence to validate the account, yet the account continues to report and cause damage. 

To summarize what happened : A SELFINC/LEAD derogatory account appeared on my credit report showing a {$27.00} past-due balance, delinquency history, and a charge-off notation dated XX/XX/year>. 

I do NOT own this account and never opened any account with Self or Lead Bank. 

I disputed the account with all credit bureaus. 

The disputes were marked verified without actual investigation or documentation. 

I requested a Method of Verification. 

No documentation was provided by the bureaus or SELFINC/LEAD. 

No signed application, loan agreement, or identity verification record exists. 

Reporting is inaccurate, unverifiable, and harmful. 

The account violates multiple FCRA sections and should be removed. 

I am seeking CFPB intervention because the dispute process failed. 

In conclusion, SELFINC/LEAD is reporting an account that does not belong to me, with a past-due amount of {$27.00} and an extended late-payment history that I never incurred. This information is inaccurate, unverifiable, and legally noncompliant. I respectfully request that the CFPB require the company and the credit bureaus to provide full documentation or delete the account immediately.

Company response to consumer: Closed with explanation