Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #7183245
Complaint Overview
Complaint ID: 7183245
Company: Spring Oaks Capital, 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: Michigan
ZIP Code: 48234
Date Received: 2023-06-28T12:00:00-05:00
Date Sent to Company: 2023-06-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Spring Oak Capital SPV, LLC has reported inaccurate information about ( ACCOUNT XXXX ) to XXXX, XXXX, and XXXX consumer reporting agencies. Spring Oak Capital SPV, LLC has failed to conduct a reasonable investigation regarding the disputed information. If a reasonable investigation took place, the inaccurate information would have been discovered and changed accordingly. Instead, the inaccurate information was verified, and no changes were made. The inaccurate reporting of this account is damaging my ability to get credit, negatively affecting my credit score, and has caused me emotional distress. I have disputed the accuracy and completeness of this account with the consumer reporting agencies on multiple occasions and the results come back verified. I have also sent a complaint ( XXXX ) to the Consumer Financial Protection Bureau to resolve the inaccurate reporting and requested the deletion of this account which was declined. Spring Oak Capital SPV, LLC has failed to satisfy its duty under the Fair Credit Reporting Act 15 U.S.C.1681s-2 ( b ). After my dispute was received by the credit reporting agencies, Spring Oak Capital SPV, LLC received a notification from the credit reporting agencies that the account was disputed. Spring Oak Capital SPV, LLC responded to the credit reporting agencies confirming the accuracy of the account without investigating, therefore violating the FCRA. This violation has occurred with all three credit reporting agencies and you are liable for the sum of {$3000.00} under 15 U.S.C. 1681n. Additional equitable relief sought is the deletion of this tradeline, with no future reinsertion to XXXX, XXXX, XXXX, and or any other consumer reporting agencies that may have been furnished with this account information. To allow you the reasonable opportunity to resolve this matter, you have no later than 14 days respond. Failure to respond will result in the escalation of this matter to arbitration. Furthermore amongst checking my report XXXX XXXX Failed to notify all Credit Reporting Agencies of the DELETION OF The ACCOUNT THEY DECIDED TO REMPOVE OFF OF MY XXXX CREDIT REPORT BUT THEY DID NOT NOTIFY XXXX OR XXXX OF THE DELETION OF THE TRADELINE. XXXX ALSO SHOWS THE ACCOUNT STILL REPORTING AFTER I RECIEVED A NOTIFICATION THAT AROUND XXXX XXXX XXXX THAT THEY REMOVED THE TRADELINE FOR THE ACCOUNT WITH CELTIC BANK WHICH IS INDIGO. Which is another violation.
Frequently Asked Questions
What is Complaint #7183245 about?
Complaint #7183245 was filed against Spring Oaks Capital, 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 2023-06-28T12:00:00-05:00.
How did Spring Oaks Capital, 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 Spring Oaks Capital, LLC?
Yes, visit the Spring Oaks Capital, LLC company profile at readthecomplaint.com/company/spring-oaks-capital-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.