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Wow, actually have a question for myself

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My prof couldn't answer this one for me, so I bring it before you guys.

Background: Had a fraudulent Sherman Acquisitions account on my reports 2 years ago. Fell off via dispute...reappeared...fell off...later sued Sherman, settled up with them. Fast forward to today. So I'm doing my daily pull on the "new" site, and I notice a collection account on my TU file.

I was almost giddy with anticipation.

Order my actual TU report from them (still free--gotta love those 200 free reports I'm getting through them), and there it is...an actual, honest to god, negative item that had been previously deleted (it was the old Sherman account)

Listed under creditor LVNV Funding...after doing some research I found that Sherman is now LVNV Funding (LLC), and that Sherman and it's various Alegis subsidiaries have all been reformed under Resurgency Corporation (about time they consolidated).

I called em up, pitched a fit...they sent in the order to delete from TU right there on the spot, said the file would be forever closed and archived, apoligies for bothering you, Mr. Xan--please don't hurt us (They also had records of all the previous disputes/deletions/lawsuit on the computer.)

Which is, you know...OK I guess. But my question is as such:

In my settlement with Sherman, I had placed a liquidated damages provision--stating that if they ever placed that negative piece of information on my credit file again, they'd have to pay me $25,000. Does that apply to this "reformed" Sherman, LVNV Funding? Same company overall...same records of disputes...had all the same information on the computer that showed they should have never placed it on my credit file...different name.

Or do I just have a piddly little $3,000 lawsuit against LVNV Funding to look forward to?

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My thought is that you are looking at a cool $25k from Resurgency, LVNV, or whatever they want to call themselves now. It's still your old Sherman TL and they are just a reorganized Sherman. Their mistake is your good fortune.

So I'm doing my daily pull on the "new" site, and I notice a collection account on my TU file.
Pray tell, what new site are you using for daily pulls?
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I would think that it would in some part depend on the wording of the settlement and the conditions under which Sherman became this new company.

For example, obviousy it would apply here if the settlement read that it applies to "its employees, officers, shareholders, attorneys, agents, representatives, boards of directors, principals, successors, assigns" or some similar language.

There are many things in both situations that could change the outcome here.

Good luck, man. Who needs luck though when you are swingin at the Playboy mansion!!!

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I agree, Dive. I meant to include the "assigns" lingo in my first post. Sherman might just be cagey enough to work it so they don't have any liability of the former entity, but can still keep hounding people for the same accounts they had under the former entity. Bastages.

I know your family is going through a tough time right now. Hope you're doing okay.

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Hi breathing_easier,

No I don't know whom Xanathos is using for credit pulls...

And you never said how you accomplished those 103 and 120-point jumps on EX and TU...

Yeah -I just saw that question last night and finally answered ....


Basically, It was thru dispute resolution/ removal of a outstanding collection item and two good will requests - all via telephone 'a la DiveMedic.

Best wishes,

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Did your agreement say "Sherman and all its assignees" or something like that? Even if it didn't, I still think you have a case for a liquidated damages provisions, but you will probably need to go to court and dig up some case law to get it. Just my gut feel.

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It didn't--I just used my standard settlement with them--it never even occurred to me at the time that Sherman was the one company on my list famous for selling debts to themselves and operating a whole web of shell corporations and the like. My standard LDP states (well...stated, I changed it after this) "Defendant" as opposed to "Defendant, its succesors, attorneys, assigns" etc.

lBut it appears as though I'm gonna get a slide on this one. Their legal counsel called me up yesterday after being forwarded a copy of the call I placed to them the day before to apologize, state he had no idea how something like this could have happened, but they're going to make damn sure it never happens again blah blah blah. When he followed all that up with "So, what are your intentions regarding this issue?", I knew I had em.

They're gonna be getting in touch with me next week to finish resolving the matter--I assume to tell me they have a check they're going to be mailing (I had pointed out to them the previous settlement). They were too obsequious to have been meaning calling to tell me they'll see me in court. It appears as though even if they could try to argue the old settlement doesn't count because they're under a new name that they're electing to not to try and come to blows with me on it. Looks as though they'd just rather give me the money to make me happy and stay out of my way.

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