Consumer complaint received 2019-01-07 00:00:00
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Information belongs to someone else
Company: Bread Financial Holdings, Inc.
State: PA

Complaint narrative:
XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX XXXX XXXX. hereinafter called " alleged lenders '' claims that they lent their money to me. Alleged lender claimed to me that the alleged lender would charge interest as compensation for lending me the alleged lender 's money. Financial institution 's CPA audit opinions claim that financial institutions involved in issuing alleged loans or loans follow Generally Accepted Accounting Principles, GAAP. There is a dispute regarding who loaned what to whom regarding the alleged loan. The alleged lender claims that they lent me their money. The alleged lender claims that the alleged lender has loan papers with the affiant 's name on it as evidence of a debt. The bookkeeping entries show the opposite and that the affiant was the lender and that the alleged lender was the borrower : According to GAAP, this is what happened : the alleged lender and financial institution involved in the alleged loan never lent one cent to the affiant as adequate consideration to purchase the affiant 's promissory note. The affiant first became the lender to the alleged lender and the alleged lender was the borrower. According to GAAP, the bank recorded the promissory note as a bank asset offset by a bank liability. The promissory note was recorded as a bank asset in exchange for credits in the affiant 's transaction account or to give value to a check or similar instrument. The matching principle in GAAP requires that there be a matching liability offsetting the promissory note recorded as an asset and that the liability shows that the  bank/alleged lender owes the alleged borrower money for the promissory note that was lent to the bank or alleged lender. The promissory note was deposited in a similar manner as cash is deposited into a checking account. Depositing cash or a promissory note into a checking account or a transaction account is the same or similar to loaning the alleged lender the cash or promissory note. According to GAAP, the promissory note was deposited as a bank asset offset by a bank liability with the bank liability showing that the alleged lender owed the affiant money for the promissory note that was received from the affiant and deposited. When the bank deposited the promissory note and credited the affiant 's transaction account, the alleged lender, the one who claims they own the promissory note, recorded a loan from the affiant to the alleged lender, making the affiant the lender and the alleged lender the borrower. The alleged lender returned the equivalent in equal value of the loan to XXXX XXXX, the lender per GAAP. When the money was repaid to XXXX XXXX, the true lender per GAAP, the alleged lender claimed that the repaid money was a loan to a borrower named XXXX XXXX XXXX and ignored the bookkeeping entries which proved the money trail of who lent what to whom. The alleged lender claims to be the lender using a promissory note to claim they lent money to the affiant but GAAP shows that the opposite happened. The alleged lender did the opposite of what the affiant, XXXX XXXX understood and believed was to happen, creating an economic effect similar to stealing, counterfeiting and swindling against the affiant, XXXX XXXX

Company response to consumer: Closed with explanation