Consumer complaint received 2025-10-05 00:00:00
Product: Debt collection — Credit card debt
Issue: False statements or representation — Attempted to collect wrong amount
Company: Velocity Portfolio Group
State: OH

Complaint narrative:
CFPB CONSUMER COMPLAINT Complainant : XXXX XXXXXXXX XXXX XXXX XXXXXXXX XXXX XXXX, OH XXXX Email : XXXX Phone : XXXX Company Complained About : Velocity Investments , LLC Description of the Problem I am filing this complaint against Velocity Investments , LLC for violating the Fair Debt Collection Practices Act ( FDCPA ) by attempting to collect and sue on a debt that can not be validated due to fundamental contradictions between the original creditors documentation and their own credit reporting. 

Velocity Investments is suing me in state court for {$7600.00}, yet they have failed to provide consistent or reliable documentation identifying the true nature, terms, or amount of the alleged debt.

Key Contradictions That Make Validation Impossible XXXX. Misrepresentation of Product Type Velocitys validation includes a Truth in Lending Disclosure showing a 35-month fixed installment loan. 
The original creditor ( XXXX XXXX XXXX XXXX reports  the same account to the credit bureaus as a Line of Credit with 1-month terms. 
These are completely different financial products under federal lending law, each with distinct disclosure and repayment requirements. 



XXXX. Contradictory Contract Terms The XXXX XXXX  Personal Credit Line Agreement I signed explicitly states : The XXXX XXXX  Personal Credit Line is a closed-end line of credit. 
Each advance is repayable over 36 months in substantially equal monthly payments. 
The credit limit will not be replenished as it would be in an open-end line of credit. 

Yet, the creditor reports the account as open-end, directly contradicting their own contract. 



XXXX. Inconsistent Debt Amounts Velocitys lawsuit amount : {$7600.00} TILA Disclosure Total of Payments : {$10000.00} Credit reporting shows : {$7600.00} ( high balance ) and {$6900.00} ( written off ) Velocity has not provided any accounting that reconciles these numbers or explains which amount is correct. 



XXXX. Mathematically Impossible Credit Reporting The original creditors payment history includes impossible calculations such as : {$200.00} payments reducing balances by only {$98.00} Fluctuating written off amounts ( {$4400.00} vs other incomplete totals ) Balances that do not follow basic arithmetic progression These inconsistencies make it impossible to determine a valid debt balance. 



Attempts to Resolve I have : XXXX. Sent multiple debt validation requests to Velocity Investments highlighting these contradictions. 
XXXX. Received inadequate responses that failed to address the core misrepresentation. 
XXXX. Attempted to resolve the dispute directly before litigation, to no avail. 

Despite this, Velocity continues to pursue a collection lawsuit without valid proof of debt ownership or accurate terms.

Violations of Federal Law FDCPA Violations : 1692g Failure to properly validate the debt due to contradictory and incomplete documentation.

1692e False representation of the character, amount, or legal status of the debt.

1692f Unfair or unconscionable means of collection on an unverifiable debt.

FCRA Concerns : The original creditors inaccurate credit reporting forms the basis of Velocitys claims, further perpetuating misinformation.

Desired Resolution I respectfully request that the CFPB : XXXX. Require Velocity to dismiss their lawsuit until the debt can be consistently validated. 
XXXX. Order Velocity to cease all collection activity related to this account. 
XXXX. Require Velocity to correct inaccurate credit reporting related to this debt. 
XXXX. Investigate this pattern of debt collection based on contradictory documentation. 
XXXX. Ensure full FDCPA and FCRA compliance moving forward. 



Supporting Documentation I am attaching the following documents as evidence : Copy of the lawsuit filed by Velocity Investments , LLC Validation letter and TILA disclosure provided by Velocity Credit reports showing contradictory reporting by the original creditor The Upgrade Card Personal Credit Line Agreement Payment history analysis showing mathematical impossibilities All correspondence exchanged with Velocity Conclusion This is not a simple dispute over balance calculations it is a fundamental failure of debt validation. Velocity can not prove what debt they own when the original creditor can not even describe the financial product correctly. No consumer should face litigation over such unverifiable and inconsistent records. 



Respectfully submitted, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, OH XXXX Email : XXXX Phone : XXXX Date : XX/XX/year> 2025

Company response to consumer: Closed with explanation