Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #4695277
Complaint Overview
Complaint ID: 4695277
Company: Independence Capital Recovery, LLC
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-Issue: Their investigation did not fix an error on your report
State: Florida
ZIP Code: 34746
Date Received: 2021-09-06T12:00:00-05:00
Date Sent to Company: 2021-09-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In my situation, I have a satisfaction letter from a debt collection agency that was given to me. I have taken this and disputed all 3 credit reporting agencies. The results of their investigation has been unchanged and updated. I am trying to resolve a closed account under my credit report that is stating as a Charge Off/Collection from a repo and it needs to be changed to a settled debt. I have contacted all 3 parties and their managers of credit bureaus, XXXX XXXX ( original auto loan lien holder ) and Independence Capital Recovery which is formerly known as XXXX XXXX XXXX XXXX ( debt collection agency who purchased the debt ) to see what they can do. They all give me the runaround saying that there is nothing they can do to update my report. Here is my satisfaction letter attached to this complaint. I settled the account for less than the full amount of {$1500.00} for it to be closed. When I have spoken to XXXX XXXX, and XXXX 's dispute center over the phone their response for the unchanged status of that closed account is that they are only a reporting agency and that they have received a satisfaction letter but give this information to XXXX XXXX to verify. They said to contact XXXX. I have contacted XXXX and spoken to a supervisor over the phone named XXXX XXXX and she advised that there was nothing she can do as once the debt has been charged off and sold to another lender they wipe their hands clean with it essentially. As I contact the general manager XXXX of Independence Capital Recovery through his direct phone number he says that this scenario has never happened to him and that they do not report to the credit bureaus. He say 's " he acknowledges the debt has been settled as he knows i have the satisfaction letter but there was nothing he can do and to then further contact the bureaus again. The status under these accounts still are under Charge-off/collections and not settled. At the time all of these parties were contacted were the date of XXXX XXXX XXXX
Frequently Asked Questions
What is Complaint #4695277 about?
Complaint #4695277 was filed against Independence Capital Recovery, LLC regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Problem with a credit reporting company's investigation into an existing problem. It was received by the CFPB on 2021-09-06T12:00:00-05:00.
How did Independence Capital Recovery, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit reporting, credit repair services, or other personal consumer reports) and describe your issue in detail.
Can I see other complaints against Independence Capital Recovery, LLC?
Yes, visit the Independence Capital Recovery, LLC company profile at readthecomplaint.com/company/independence-capital-recovery-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.