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Resurgent?


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Hi all,

I have been reading, and a few posts, the fourms over the last few months. Happy to say that I have improved my credit scores by around 50 pts each! I still have a ways to go.

Here is my question. I just got a letter respoding to my dv from Resurgent?? Who I guess is LMNV Portfolio. Anyways, the letter states that they have ordered the docs from the OC, HSBC, and they will take 10-12 weeks to get them. Two questions. Will HSBC have the docs?? It was CO'ed on 9-30-2002, and last payment was 10/14/2001. Im in AZ so the SOL is 3 years. So the second question is what should be my next move?

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Here is my question. I just got a letter respoding to my dv from Resurgent?? Who I guess is LMNV Portfolio. Anyways, the letter states that they have ordered the docs from the OC, HSBC, and they will take 10-12 weeks to get them.

It appears to me that if it takes 10-12 weeks to Order and Ship Copies, chances are they do not have them. Aren't they supposed to stop ALL collection activity until they SEND the docs?

______________________________________

Two questions. Will HSBC have the docs??

I doubt it.

_______________________________________

Im in AZ so the SOL is 3 years. So the second question is what should be my next move?

I would wait and see if I can find some Violations and wait until February 2007, and see what they DON'T send. I have a current HSBC Account and they had reported erroneously to the CRAs for months and corrected it AFTER I had brought it to their attention. It appears that they do not keep Complete and Accurate records.

June

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Charge off does not mean write off. Two different things. For a CO, the OC still owns the debt and has only taken a charge against income for tax purposes. If its a WO, then the TL on your CRs will say "Sold to another lender".

Either way, most OCs hold onto records for at least 7 years. The instances where that hasn't been the case is when one OC buys another and their computer systems are incompatible.

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Hi all,

I have been reading, and a few posts, the fourms over the last few months. Happy to say that I have improved my credit scores by around 50 pts each! I still have a ways to go.

Here is my question. I just got a letter respoding to my dv from Resurgent?? Who I guess is LMNV Portfolio. Anyways, the letter states that they have ordered the docs from the OC, HSBC, and they will take 10-12 weeks to get them. Two questions. Will HSBC have the docs?? It was CO'ed on 9-30-2002, and last payment was 10/14/2001. Im in AZ so the SOL is 3 years. So the second question is what should be my next move?

HSBC had the orginal application signed in 1997 and gladly sent it to me. I hope you don't have the same luck I had.

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Depending on the exact wording of your state's laws, if they file suit after Feb 2007, you probably have an absolute defense. Doesn't mean they won't try, and doesn't mean that some a$$hole judge won't ignore the SOL, but, you will probably prevail.

Also...again, depending on the exact wording of your state's laws, realize that SOL doesn't mean they have to stop trying to collect, or that they have to stop reporting to the CRAs.

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