If you have LVNV on your CR - READ THIS!!!

[pulpfiction]

By the way...we really need a sticky about LVNV and their 8000 different aliases, as there's always confusion about the relationship between LVNV/Sherman/Resurgent, etc.

Mods?

[Amerikaner83]

how about this?

[merkurfan]

I'll be the first to add...

CREDIT ONE BANK is owned by Sherman Companies. Yup, the sub prime CC company.

[jetscarbie]

Bud Hibbs has a good bit of info on them.

http://budhibbs.com/debtcollectorpages/alegis_corp.htm
LVNV Funding, LLC,

DBA/ Resurgent Capital Services, LP

Dba/ Alegis Group, LLC

Aka/ Sherman Financial Group, LLC

aka/Pinnacle Financial Group

7825 Washington Ave. S, Ste 301

Minneapolis, MN 55439-2409



Fka/ Sherman Acquisitions

Aka/FNBM, LLC

Aka/Ascent Card Services

Aka/Ventus Capital Services

Aka/Performance Recovery Group

Aka/Receivables Management Solutions?

Address 260 E. Wentworth Ave,

West St. Paul, MN, 55118.

PH: 651-457-1130 & 800.299.8302

That stupid credit card scam....DON"T FALL FOR THAT CRAP!!!!!
http://debt-consolidation-credit-rep...d.php?t=279123

Scroll down to see the offer

[Tazjeepcj7]

Sherman is (or used to be) owned by two insurance companies, Mortgage Guaranty Insurance Corp. (MGIC) and Radian Group. These are publically owned companies with lots of interesting info included in their financial statements. Check this out:
http://phx.corporate-ir.net/phoenix....604&highlight=

[Tazjeepcj7]

Here is a link to a recent news release by Radian:
http://www.ir.radian.biz/phoenix.zht...918&highlight=

[lqqkin4areason]

An old Judgement was bought by LVNV and they turned it over to Weltman, Weinberg & Reis Co. Time to fire up the old DV letter again. Anyone have any success or failure with them??

[Amerikaner83]

I keep hearing you should DV the "main office" of LVNV as well...in addition to whomever sent you the new dunning letter...

[redskinfan]

I've DV'd LVNV recently and the accounts still got transferred to another "law firm". I really don't think they pay any attention to procedure. This time I DV'd the new collector(s) and let them know the debt was in dispute as I had DV'd LVNV blah, blah and one of them was now in violation I also included copies of the letter and signed green card.

[computerguy]

When a Judgment is purchased, the DV process has bit the dust. Believe me I know! Your best bet is to seek Chain of Title and all sorts of Discovery items if the purchasing entity ever takes you to court. Make sure you read all your States Law on purchase of Judgments and Foreign Corporations requirement to buy debt in your State.

[lqqkin4areason]

Originally Posted by Amerikaner83

I keep hearing you should DV the "main office" of LVNV as well...in addition to whomever sent you the new dunning letter...

Guess what?

I was going over my DV letters I've sent out I sent LVNV this letter on Nov 15 and they never validated. Time for round two I guess.

[dlgone]

Maybe it will help to see how LVNV reports on the CRAs. These are from my online reports acquired through annualcreditreport.com.

Experian:

Original Creditor: $OC
Status: Collection account. $X due as of $DATE
Type: Installment
Terms: 1 Months
Account History: Collection as of $DATE, $DATE, $DATE, etc.

Equifax:
Listed under "Other Accounts"

Current Status:
Type of Account: Open
Creditor Classification: Financial
Type of Loan: Factoring Company Account (debt purchaser)
Comments: Collection account
81-Month Payment History: No 81-Month Payment Data available for display.

TransUnion:
No payment history is shown.

Pay Status: >Collection Account <
Account Type: Open Account
Collateral: 12 $OC
Loan Type: Factoring Company Account
Remark: >Placed for collection<

It may also be interesting to see how these are reported via TC:

LVNV FUNDING

			TransUnion 		Experian 		Equifax
	Account No.: 	XXXXXXXXXXXXXXX 	XXXXXXXXXXXXXXX  	XXXXXXXXXXXXXXX
	Condition: 	Derogatory 		Derogatory 		Derogatory
	Balance: 	$X			$X			$X
	Type: 		Factoring company 	Unknown - credit	Collection
			account			extension, review,
						or collection
	Pay Status: 	Collection/Chargeoff 	Collection/Chargeoff 	Late 120 Days

	Remarks:
	[TransUnion] Collection Account. Placed for collection  
	[Experian] Account seriously past due date/account assigned to attorney,
	           collection agency, or credit grantor's internal collection
	           department.  
	[Equifax] Collection account  

			TransUnion 	Experian 	Equifax
	Past Due: 	$X		$X 		$X
	High Balance: 	$X 		$X 		$X
	Terms: 				1 months 	
	Limit: 	  	  	 
	Payment: 	  	  			$0
	Opened: 	XX/XX/XXXX	XX/XXXX 	 
	Reported: 	XX/XX/XXXX 	XX/XX/XXXX 	XX/XXXX
	Responsibility: Individual 	Individual 	Individual


	Late Payments (last 7 years):
			TransUnion 	Experian 	Equifax
	30 days late: 		  	0 	 
	60 days late: 	  		0 	 
	90 days late: 	  		0

It might also help to know that Equifax has unrelated collection accounts listed in their own "Collections" section. LVNV is NOT reported there.

Maybe it will help if others compare to see if they have similar reporting. Maybe this will give ideas on violations, method of dispute, etc.

Hope this helps

[Cloud]

Hello,

According to my research this is how their scam currently is set up:

First you get a letter from some no name company, "Northstar Location Services" in my case to pay some made up amount like $170

Then you call the number and "Resugent" picks up

Meanwhile "LVNV Funding" is reporting to the CRA's already. They do it in variations to cause maximum damage.

So, if your OC sold your account to them you need to deal with at least three different "companies" in different states in different time zones...very confusing and they are already ahead.

In my case Monogram Credit Card Bank of Georgia (a/k/a Monogram, MCCBG)a wholy owned subsidiary of GE Money Bank (GEMB) screwed up my Casual Corner account. "They" are the OC.
- Monogram is a "ghost bank". These "type" of banks where allowed to be chartered for a limited time sometimes in the seventies or eighities (I'm not sure). They do not have any real banking locations and they cannot be chartered anymore, but somehow legislation couldn't get rid of them. They are considered semi illegal financial institutions at the best.
Monogram is the creditor behind a whole array of consumer charge cards and they're not fun to deal with when they mess up.
- GE Money Bank the parent company is chartered in Switzerland and supposed to be a reputable financial institution. Very convenient for them to use Monogram as their little black sheep.

Back to Resurgent: I faxed them my last payment on the account and called them a week later. They said the account is closed and they mailed me a letter for deletion request. They didn't just disappear though. Thankfully I found this forum and started reading up more and more, then I started CRA disputes online. (I know now it's better by mail, was a bit hasty)

Small success ensued: LVNV deleted from all 3 CRA's, hopefully never to come back.

If you google LVNV you'll find a days worth of reading on them. It's hard to dig up actual current information because they play the cameleon game very well. There are plenty of BBB complaints in every State and the FTC is hot on to them too, my guess is some State Attorney's are also building cases. It's definetly timely to file complaints against them in every possible forum.

It is also likely that the OC will show your account as a charge off and LVNV will show the same account under the same account number as an open installment type account in collection status. (FCRA violation on both CA and OC???)

[NASCAR_Devil]

Originally Posted by dlgone

Maybe it will help to see how LVNV reports on the CRAs. These are from my online reports acquired through annualcreditreport.com.

Experian:

Original Creditor: $OC
Status: Collection account. $X due as of $DATE
Type: Installment
Terms: 1 Months
Account History: Collection as of $DATE, $DATE, $DATE, etc.

Equifax:
Listed under "Other Accounts"

Current Status:
Type of Account: Open
Creditor Classification: Financial
Type of Loan: Factoring Company Account (debt purchaser)
Comments: Collection account
81-Month Payment History: No 81-Month Payment Data available for display.

TransUnion:
No payment history is shown.

Pay Status: >Collection Account <
Account Type: Open Account
Collateral: 12 $OC
Loan Type: Factoring Company Account
Remark: >Placed for collection<

It may also be interesting to see how these are reported via TC:

LVNV FUNDING

			TransUnion 		Experian 		Equifax
	Account No.: 	XXXXXXXXXXXXXXX 	XXXXXXXXXXXXXXX  	XXXXXXXXXXXXXXX
	Condition: 	Derogatory 		Derogatory 		Derogatory
	Balance: 	$X			$X			$X
	Type: 		Factoring company 	Unknown - credit	Collection
			account			extension, review,
						or collection
	Pay Status: 	Collection/Chargeoff 	Collection/Chargeoff 	Late 120 Days

	Remarks:
	[TransUnion] Collection Account. Placed for collection  
	[Experian] Account seriously past due date/account assigned to attorney,
	           collection agency, or credit grantor's internal collection
	           department.  
	[Equifax] Collection account  

			TransUnion 	Experian 	Equifax
	Past Due: 	$X		$X 		$X
	High Balance: 	$X 		$X 		$X
	Terms: 				1 months 	
	Limit: 	  	  	 
	Payment: 	  	  			$0
	Opened: 	XX/XX/XXXX	XX/XXXX 	 
	Reported: 	XX/XX/XXXX 	XX/XX/XXXX 	XX/XXXX
	Responsibility: Individual 	Individual 	Individual


	Late Payments (last 7 years):
			TransUnion 	Experian 	Equifax
	30 days late: 		  	0 	 
	60 days late: 	  		0 	 
	90 days late: 	  		0

It might also help to know that Equifax has unrelated collection accounts listed in their own "Collections" section. LVNV is NOT reported there.

Maybe it will help if others compare to see if they have similar reporting. Maybe this will give ideas on violations, method of dispute, etc.

Hope this helps

That looks like a carbon copy of my LVNV account. EQ shows late 120 days but I have never, ever made a payment. Is that a valid reason to dispute? Technically I'm about 2200 days late I need a new reason, they verified my last dispute.

[NASCAR_Devil]

If anyone out there, and I know you have to be, has a success story dealing with the LVNV octopus, please post specifics. I have 2 that I am dying to get rid of on my CR and they have a judgement against my better half that for some reason they are not reporting yet.

[maryv]

That's the lawfirm that is suing me!! I have to go to trial on 2/8/08. They are representing LVNV and they want $9K from me and believe me if I had it they certainly would not get it. The cc debt was from 1998 or 1999 but I filed Chapter 13 BK in 2001 and had the BK dismissed (not discharged) in 04 so it started the SOL all over again. But I'm going to argue that the SOL has passed and if that doesn't work, I'm going to say the debt isn't mine. They are going to have to PROVE that I owe $9 grand and I know they won't be able to.

At least I hope they won't be able to. : )

[jetscarbie]

LVNV is scum.

If you don't feel comfortable defending yourself...hire an attorney to deal with them. They fold pretty easy. They bank on suing you and you not showing up to court, automatic judgement without proving anything.

If you get anything in from LVNV or any of their other 500 companies, DV LVNV and the other company or so called attorney. Dispute EVERYTHING on your CR that has ANY of their names on it.

[TTigggers]

ok Lvnv is on my cr collecting for sears.

They list it as an installment acct and past due every month. Also it has the same acct # as the old sears acct.

What is the FCRA violation?

[insomniac]

Originally Posted by TTigggers

ok Lvnv is on my cr collecting for sears.

They list it as an installment acct and past due every month. Also it has the same acct # as the old sears acct.

What is the FCRA violation?

I'm no lawyer and still learning, but I believe these are the violations:

- Not reporting correct type of an account (it wasn't an installment account with Sears, so LVNV shouldn't be saying it is)
- Re-aging (reporting newer opening date and past due every month)

I have LVNV on two of my reports. They're reporting as "factoring company account," installment account with one-month terms, late every month. They tried to send Brachfeld & Associates after me, but they gave up quickly after I DVed them (phone calls stopped, no letters). I haven't had the guts to sue LVNV yet, but you can bet I'll be countersuing if they ever come after me.

[joanneb1253]

I have zombie debt that is years past the SOL here in Colorado. When Sherman tried to collect on one of them, I sent a C&D and not only requested Sherman never to contact me, but I listed every company they had at the time that I could find that was associted with them. I also noted in my letter to include any future company in their holdings as well as subsid's and sister companies not listed. I copied the CO state credit board and the state DA. (I do with all C&D's) So far - knock on wood, they have left me alone. They have been in trouble here in CO so this may have something to do with them not bothering me.