Collection Agencies and Creditors

LVNV funding LLC purchases charged-off a/c from creditors

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Posted: Wed Mar 15, 2006 9:01 pm Post subject:

I've been at it with these dimwits for a couple of years over a boggus Providian account. After several demands by me for validation (over a year ago I recieved the boggus "affidavit" they sometimes send out", a few months ago I recieved a signature card, with an attempt at forging my name on it. Mind you, there were no companies mentioned on the card. Just my name, an old address, and my forged (badly) signature. This only goes to show what lengths these criminals will go to. They've so far kept it off of my credit report. It has gone out of the statute of limitations this month, so they'll prbably try some funny business. I happen to know that it is illegal to re-age an alleged debt and illegal to report it as an open account. For those with the patients, Sherman/LVNV will leave a large paper trail communicating with you, with a host of fdcpa violations. This is another reaso to only communicate in writing. I called them up only on my convenience, becase they don't know my number. You'll be talking to high school kids, or those who are easily impressionable. One young woman even said that the FDCPA doesn't apply to them, it only applies to third party collectors (I think she'd been told this and really believed it). BTW, for Texas residents, the Texas Debt Collections Act (similar to FDCPA) does apply even to original creditors. _________________ Register today to encash debtcc points.

mwtx
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Posted: Wed Mar 15, 2006 10:30 pm Post subject:

TMD, The reason for the name change is probably because of a sort of partnership with some guy (who's name escapes me) who mainly collects old medical debt (a whole new low). Also probably because Sherman's investigation by the FTC. I'm only surprised that they registered their LLP corporation in Nevada, where I believe, the board members' names, addresses, phone numbers, and SSNs must be on file. The only thing that will change matters is a change of law, or Congressional investigations. State attorney generals (and sometimes the FTC) have fined various junk debt purchasing companies. Most recently Arrow Financial and NCO. They pay and always "promise" to confirm with the orderd 60 day period to comply with the law, but its always business as usual (breaking the law). _________________ Register today to encash debtcc points.

mwtx
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Posted: Wed Mar 15, 2006 11:26 pm Post subject:

I might also add, to the validation letter posted, that you demand competent proof from a junk debt buyer that you are contractually obligated to pay them (if you "debt" is still within the statute of limitations). As to the Greenville, SC BBB, it is a waste of time. They are in bed with Sherman/LVNV. They provide quite a lot of jobs! To get LVNV/Sherman off of your credit report, unfortunately, you'll also probably have to deal with them. When you dispute to a credit reporting agency, such as Experian, they only send an email to the collector. The collector simply says, "yes we have this account, and he/she owes it". The credit reporting agency then reports "validated". I'd like to remind people, that in many states small claims court is a very inexpensive way to sue for violations of the fdcpa as well as the Fair Debt Reporting Act. _________________ Register today to encash debtcc points.

mwtx
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Posted: Thu Mar 16, 2006 5:18 am Post subject:

i got the same letter, i dont have any idea what it is , because i have only 2 credit cards and im paying on them every month, what else can it be, i bought my car, and paid that off already, _________________ Register today to encash debtcc points.

lori
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Posted: Thu Mar 16, 2006 12:39 pm Post subject:

Lori, call the company and inquire about purpose of this letter sent to you. LVNV Funding is a collection agency. So you can send a debt validation letter to know the correct details of the account. Under the laws, you have the legal rights to refuse any kind of payments until it has not been proven to you in writing.

david
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david

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Posted: Mon Mar 20, 2006 12:44 pm Post subject: LVNV Funding

If you call this number 1-866-464-1123 and ask for the number to the dispute department the people are very nice. I just got something removed that I have been fighting for 2 years to get done. _________________ Register today to encash debtcc points.

AmberSode
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Posted: Mon Mar 20, 2006 10:58 pm Post subject: LVNV Funding

Under no circumstances should you ever contact these people, nor try to make arrangments with them. Number 1 - making a payment will not clean up your credit. What it will do is re-age your account, and, it will stay on your CR another 7 years from the date you pay them. These people will probably not report it to the credit bureaus. They are pirates!! Unethical is a kind word for them. _________________ Register today to encash debtcc points.

pro se
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Posted: Wed Mar 22, 2006 8:02 pm Post subject: LVNV Funding

Search LVNV Funding at Google and read the articles, LVNV Funding is a shacking down people for money they may and/or may not owe. They are buying up bad/charged off debets for pennies on the dollar and trying to get money out of people by reporting ooutstanind balances owed even if they are not. They have been sued many time sfor this practice and should continue to be sued. _________________ Register today to encash debtcc points.

3838457
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Posted: Sun Mar 26, 2006 1:39 pm Post subject:

I have recieved letters from lawyers representing LVNV, but have never recieved one single thing from LVNV...the letters say that LVNV is the original creditor although that is not possible since they are a CA. But, the letters also give no contact info for LVNV, not that I want to call them, but that is very strange. I also get phone calls from these "attorney offices" all the time, yet LVNV never once tried to call me. I think it is very strange. Especially since I sent debt validation letters to the attorney's offices, and recieved no response, except for continued phone calls. One of the accounts that LVNV had, not sure what it is...only guessing by the amounts, I sent debt validation to the attorney who had it, then 2 months later, after hearing nothing...I get a letter in the mail from a completely different attorney's office, showing the same amount of debt, so must be the same account transfered to a different attorney. Does any of this make any sense at all? _________________ Register today to encash debtcc points.

Guest

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Posted: Mon Mar 27, 2006 1:03 pm Post subject:

If a collection agency buys the debt from the original creditor, they become the original creditor. It might be LVNV has resold the account to these attorneys or they have appointed these attorneys to collect the debt on their behalf. In both the cases debt validation is required. Tell them that how will you understand if LVNV is not holding the account? So they have to send some paperwork to you. _________________ Read my thoughts about Debt and Credit.

stanley
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stanley

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Posted: Mon Mar 27, 2006 7:26 pm Post subject:

Quote:

If a collection agency buys the debt from the original creditor, they become the original creditor.

This is not true. They are the debt owner, yes, however they are not the original owner. They are still bound by the fdcpa while Original Creditors are not. There are several FTC Staff opinions that make it clear a debt buyer is still considered a collector under the law and are bound by the FDCPA.

Original Creditors have rights and remedies available that Collectors do not. The FTC's FDCPA web page can be found at http://www.ftc.gov/os/statutes/fdcpajump.htm
The staff opinions can be viewed by clicking on "FTC Staff Opinion Letters"
_________________
Experience is something you don't get until just after you need it.

LCW
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Posted: Mon Mar 27, 2006 10:34 pm Post subject: checking statues

how do you go abouts checking a statues?

olive1276

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Posted: Tue Mar 28, 2006 2:01 pm Post subject:

You can check it online; there are some web pages that list the statute of limitation state wise. One such page is available here also: http://www.debtconsolidationcare.com/forums/state-statutes.html It is better to get it confirmed with a local lawyer.

curlycarl
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Posted: Tue Mar 28, 2006 9:43 pm Post subject:

You're right Clay. The original creditor never changes, a debt purchaser is a third party collector under the fdcpa (as well as collection lawyers). But, it has been my experience that LVNV/Sherman often "pretends" to be the original creditor when you call them up, and even have gone so far as to say that the FDCPA doesn't apply to them for this reason. Of course this is utterly rediculous, and if you do phone them, it is reason to record the conversation. _________________ Register today to encash debtcc points.

mwtx
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Posted: Wed Mar 29, 2006 2:41 pm Post subject:

I have heard that once a debt buyer purchases the account, they become first party collector they become the owner of the account, hence can bring legal action against the debtor.

curlycarl
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Posted: Thu Mar 30, 2006 11:36 pm Post subject:

curlycarl, No. Under the fdcpa a debt purchaser is the same as a third party collector. Yes, they can sue, but most often cannot produce any evidence. _________________ Register today to encash debtcc points.