Financial Management Services
Date: Mon, 11/13/2006 - 19:52
Also, the reason I find it so odd that I would be contacted about this account by these people is that just last week I received a letter from GC Services and another letter a few days later from LVNV regarding this same debt and all 3 companies have offered different settlement amounts.
Or maybe their name is Financial Recovery Services...I don't exa
Or maybe their name is Financial Recovery Services...I don't exactly remember what it read on my Caller ID.
It does seem odd that 3 places would contact you at the same tim
It does seem odd that 3 places would contact you at the same time.
I'm pretty sure LVNV buys old Sears accounts, and they are the only junk buyer I know that buys an old debt an then sends it out to a collection agency. They are probably in control of your account. Maybe they send it out to more than one collection agency at the same time, just to get more calls out there, and they think they will get a better response that way.
Collection is a permissible purpose under FCRA, so if they have been contracted to collect on a debt, they can pull your credit.
I had a Sears card a few years back. Used it for christmas, paid the balance off in February. But Sears got my payment like 2 days late, so they charged a $25 late fee. In the meantime I moved and never bothered to change my address with them, and never used my card again.
A year later, LVNV bought it and sent me a letter that a $25 late fee turned into a $211 balance. They were charging late fees on late fees, and interest on top of it.
LVNV sent it to northland group, who sent me a letter saying they would settle for $140. I disputed it and sent copies of my 3-year-old receipts and bank statement showing that I paid my last statement in full. And requested detail of charges they claim owed.
Next thing, Resurgent Capital Services sends me a letter with 2 sentances on it: Validation of Debt. Your account was acquired from Sears and is now owned by LVNV Funding, LLC. At the time the account was acquired, Sears advised that the balance was $211.98.
I'm thining in my head "What kind of validation letter is that?" Low and behold, a week letter they sent another letter and said "Based upon our research, the above referenced account has been closed. We apologize for any inconvenience this matter may have caused."
