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LVNV Sued for hot being licensed - All debts forgiven


bmc100
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They will just sell them to the next collector and it starts again. How many people will be able to set up the chain back to LVNV and prove that the courts have considered the debts forgiven since they do not know the niceties of law. I am sure many here could do that but we represent a very small fraction of the people out there.

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They will just sell them to the next collector and it starts again. How many people will be able to set up the chain back to LVNV and prove that the courts have considered the debts forgiven since they do not know the niceties of law. I am sure many here could do that but we represent a very small fraction of the people out there.

"As part of the settlement, LVNV won't pursue the debts it tried to collect in state court against the 3,500 people while it was unlicensed. The agency also can't sell those debt accounts to other collection firms."

They won't be selling them, either, as part of the settlement. But this also appears to only apply to those 3500 accounts they took to court while they were unlicensed. I wonder how many they tried to collect on but did not take to court, while unlicensed, for which this settlement does not seem to cover.

I say bring back the stocks ... Stocks - Wikipedia, the free encyclopedia

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Did you see this part of the article at the end?

"The debt collection industry is large, employing more than 200,000 people nationwide. An industry analysis by Price Waterhouse Cooper found that the debt recovered in 2007 by collection agencies totaled $58 billion — with more than $40 billion returned to the original creditors."

200,000 employees dedicated to debt collection in a Multi Billion dollar industry.

I guess would could infer from this article that JDB's made about 18 billion in 2007.. DAMN!

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