LVNV funding, how many violations can you count?

BUMP ^

Then maybe you should shut down and stop making so many violations.

I must be missing something. This looks like an excerpt from someone's credit report, and those by themselves look completely legit if you don't know the history. Are any of the dates wrong (i.e., has the account been re-aged)? Has the CA been trying to use illegal scare tactics to collect? Did they fail to validate, and still did not remove this from the credit report? What is trying to be accomplished here?

I think they looking for violations within the listings themselves...two jump out at me....one is the account listed as open..the correct term is collections account also factoring company account is wrong and therefore a violation as well.

Thanks goldenbast, didn't even think about the account being open instead of collections, and by the way the have certainly been reaged with payment ammounts of $0.00 posted to them to keep them active, I'm going to be filing complaints with FTC, and possibly civil litigation soon.

Let us know what happens! I have been dealing with them for over a year and a half. You have to be very carefull with them- they have alot of tricks up their sleeve!

All I got when I asked for validation was, about 8 lines of their computer generated fluff that never did validate properly..KAren

I've taken a much closer look at these entries (yes they are credit report excerpts) and here is what I've found (with some additional research/self education):

Equifax:
Type of account should be collection
Date opened is incomplete
Date of last payment 3/06 for $0.00, zero is not a payment, most likely added to extend SOL
High credit 1,484 and ammount past due is 1,546, no payments have been posted to account -authorized by myself
Date of last activity N/A incomplete/conficts with date of last payment
Charge off ammount is $0, indicating no balance was transfered to CA
Type of loan is factoring company account (debt purchaser) it should be collection as they are not a factoring company, this is a collection account account as noted in comments, not a tradeline.



Experian:
Collection account, 1,546 past due as of aug 2007
Type is installment, it should be collection
High balance is N/A, it is incomplete
Term is 1 month, this is not a loan
Monthly payment is $0, if it is a loan for one month, should it not be for the balance
"your statement" states disputed by consumer, I have filed no dispute



Transunion:
Account type is open, should be collection
high balance is 1,484, yet balance and past due is 1,546
Loan type is factoring company account, it is not a loan and is previously listed as collection

Come tomorrow (monday) I'm going to contact Resurgent and get them on recording talking about their "factoring services" or lack thereof because I've done a great deal of research into what kind of service is provided by a factoring company and it has nothing to do with debt collection. I will also be requesting DV and supporting documentation which they are provided 45 days to produce and deliver to me.

By the way are you aware that once a CA transfers your account to another agency, their info has to be removed from consumer reporting agencies (e.g. Equifax)? Just something else interesting that I found out. Which they transfered my account and are still reporting on it. That's ok, I'll have the entries removed and nail them for every other FCRA/FDCPA violation that I can.

By transferring do you mean selling? I had no idea..where did you find that little gem? I raised an eyebrow at them reporting a payment of $0.00....is this a new attempt to try and get around the re-aging issue? Sheesh, CA's will stop at nothing and find every way under the sun to cheat.

I'm in the process of dealing with this company, so keep us posted on how it is going with you. :lol:

You think that's odd? Apparently LVNV funding has hired another collection agency to collect; allied interstate... Now the party is going to really get started. Also one one my credit reports listed the OC as charging off the account as bad debt, and purchased by another "lender" I am going to have a field day with this one. With Allied interstate + LVNV + my speakerphone +my laptops sound recorder= payday.

Here is an excerpt from a letter sent to me by Allied Interstate: "We have been advised that interest will continue to accrue on your account as provided for in your agreement with the original credit grantor. With the $400 jump in price for one month, I've calculated the apr that they are wanting to acess is at 320% compounded monthly. There is a fdcpa violation that I have in writting from them. I LOVE this.

Heh LVNV also has one of my accounts at another CA, this one called Global Vantedge...guess that is a favorite tactic for LVNV...assign it to others. :)

I bet it's got the chain of custody all messed up too, wait until I request supporting documents including the origional contract. To paraphrase a federal statute, if you don't have the contract, then you cannot legally collect on the account. It would be no different than my newspaper collecting for my gas bill.

Let us know what happens! I have been dealing with LVNV for almost two years. They usually pass it around among their many agencies, and they have many dbas! I think I have dealt with 4 or 5.

Did you state that yhey have 45 days to respond to you? I was under the impression that, unless you live in a state that states different, there was no time limit they had to respond to you.

As a rule- LVNV doesn't fully validate-just a computer generated paper they put some things on..Good Luck..KAren :D

It turns out that the account was recalled from AI and assigned to Weltman Weinburg and Reis. I requested DV w/ supporting documents as well as a copy of the origional contract. I was informed that WW&R did not have any of that information on hand, and that LVNV funding may not have the origional contract either. If that is the case then they will not be entitled to the debt.

If they cannot validate the debt, they cannot legally collect. But what happens is, they pass it on to someone else.

Please be aware that LVNV does sue- I have seen it in our Legal News. They may be suing someone that isn't aware of their rights, or it may be a current debt, I don't know.

Keep us posted..KAren

I contacted LVNV funding earlier inquiring on their services as a factoring company. I requested some information about their fee scales, etc. The first time I requested it they blocked my number. I contacted them via another number and was directed to a voice mail system, to whom I don't know as no identification was given. That's ok if they do sue, I will challange the chain of custody as they probably don't have the contract. You see, the OC had written it off as bad debt, which means they are probably not even entitled to collect on it.

Time will tell, wish me luck

I've counted about 15 from lvnv funding. Can a person collect damages from that like with fdcpa violations via civil suit?

LVNV usually doesn't do the collecting, they farm it out to someone else (usually owned by LVNV). They are the largest debt purchaser (owned by several insurance companies -- what else?). So always check the SOL. They also lead the field in violations of the fdcpa, which they think of as just a cost of doing business. So, always sue them for violations.

Quote:

Often creditors like Sears, will write off the debt, and then sell them to junk debt buyers like LVNV, who buy the bundles of bad debts, for pennies on the dollar.

If they can only collect on a few- it's money in their pocket. Like law student says, be aware of the SOL, violations-they make many, and your rights as a consumer. They count on you not knowing this, and try to intimidate or scare you into paying.

Ah! Ok! Thanks Bossy for clearing that up for me. :D

You're welcome! Most of the time these bottom feeders cannot validate, nor collect because they do not have the proper documents.

Also with LVNV or their dbas, it's better to communicate by mail- you will get nowhere-but mad- if you speak with them, you aren't going to be able to talk much!

If they do try to sue me, they will have to pick another law office other than the one they have assigned it to (Weltman, Weinberg, and Reis) as they have no attorneys licensed to practice law in the state which I reside. According to my states statutes 46A-2-123 it was illegal for them to even call me in the first place.

When I see the suits in our Legal News, I am not sure how they sue here. The attorney listed is a local attorney. I figured that they "farmed" out the debt for suit- but don't know..KAren

Actually I had fun with the reps that called...I get really bored sometimes and these people lighten my day as I attack them right back, so far as having one plead with me to speak to his manager. :lol: actually..I was a little disappointed with them???????the calls only spanned about 3 days, each rep I spoke to finally transferred me to various managers (this company must have many managers).

They like to keep insisting that this is my debt and I keep repeating, ???????prove it???????. I told them that I sent them a validation letter and that they continuing to call me just waists their time, but hey..I am bored so go ahead and call at least until they get my letter asking them not to???????.since then they have not called me???????I didn????????t think it could be that easy to get them to stop calling.