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Mefisto04
Joined: 06 Jul 2009
Mefisto04's page
Posts: 8
416 Magic Points
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Subject: Dealing with LVNV FUNDING LLC - looking for advice
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Tue Jul 21, 2009 12:11 am
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On credit report, I have Account charged off. $790 written off. Then, Purchased by another lender. Another lender is LVNV FUNDING LLC. But account is in amount of $1,050.
To summarized: I have 2 negative records for one issue.
I heard (over the net) horror stories about LVNV FUNDING LLC. And way they deal with people. I want to fix my negative records and I’m willing to pay, but I’m afraid to contact them. People warn about contacting them. They will use every trick possible to make you pay even more you should, about them falsifying documents, etc…
Should I call them anyway, should I send them letter (DV or pay-for-deletion)
Should I contact original creditor or CA?
What will happen to my records? I know those records will not probably be removed.
If one is paid (CA one) other will get updated?
I know that my questions are very basic. I search this side for answers and I’m quite confused, as well as frightened by LVNV FUNDING reputation.
I’m looking for advice and I will really appreciate any help
Regards |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Tue Jul 21, 2009 12:53 am
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Hello and welcome. First of all there is probaly no sense in contacting the original creditor since they sold off your account. They will not be able to help you.
Next, before you go about paying off any debt you need to get it validated properly. Start by sending a certified debt validation letter to the collection agency. Wait for the mandated 30 days. If they do not provide you with the proper proof or do not validated then you need not pay. If they take you to colurt you would win since your rights were violated.
If they do send validation make sure it is whats considered proper. An old statement is NOT validation. They need to provide you with the original signed contract you had with the original lender and something showing they now legaly own the debt.
If you could tell us when your last payment on this debt was it would help tremendously. You may be protected by the statute of limitations (SOL). Let us know. |
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Mefisto04
Joined: 06 Jul 2009
Mefisto04's page
Posts: 8
416 Magic Points
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Tue Jul 21, 2009 1:16 am
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Thank you fireyone for your help
This what original creditor post on CR
Account History:
Charge Off as of Mar 2007, Feb 2007, Dec 2006, Sep 2006 to
Nov 2006, Feb 2006
150 days past due as of Jan 2006
120 days past due as of Dec 2005
90 days past due as of Nov 2005
60 days past due as of Oct 2005, Jun 2005
30 days past due as of Sep 2005, May 2005, Feb 2004 |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Tue Jul 21, 2009 1:24 am
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| Hi, Okay then it looks like you defaulted in Feb of 2004. Thats 5 years and almost a half since your last payment. What stae are you in? |
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Mefisto04
Joined: 06 Jul 2009
Mefisto04's page
Posts: 8
416 Magic Points
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Tue Jul 21, 2009 1:46 am
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| when account was open I was in NJ, now since November 2008 Illinois |
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Mefisto04
Joined: 06 Jul 2009
Mefisto04's page
Posts: 8
416 Magic Points
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Tue Jul 21, 2009 3:46 am
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This is what I find
Should 3 years SOL will apply in my case?
New Jersey Statutes of Limitation
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[b]Conversion of an instrument for money: 3 years, (N.J.S.A.12A: 3-118(g)).
Sale of goods under the UCC: 4-years, (N.J.S.A. 12A; 2-725).
Real or personal property damage, recovery and contracts not under seal: 6 years (N.J.S.A. 2A: 14-1).
Demand Notes when no demand is made: 10 years. If demand made: 6 years from date of demand, (12A: 3-118(b)).
Obligations under seal for the payment of money only, except bank, merchant, finance company or other financial institution: 16 years, (N.J.S.A. 2A: 14-4) actions for unpaid rent if lease agreement is under seal, (N.J.S.A. 2A: 14-4).
Real estate: 20 years, (N.J.S.A. 2A: 14-7); Judgments: 20 years, renewable, (2A: 14-5); Foreign judgments: 20 years (unless period in originating jurisdiction is less), (2A: 14- 5).
Unaccepted drafts: 3 years from date of dishonor or 10 years from date of draft, whichever ex |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Tue Jul 21, 2009 12:54 pm
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Hello,
Yes the three year SOL will apply as long as you did not make a payment on this debt since 2006. The SOL will go by New Jersey's statute of limitations. This debt should fall off your report in 2011. That really is not even 2 years away. I would not contact them or make any payments or you risk restarting the SOL and becoming legally responsible for the debt again.
Collection agencies are ruthless. You may open yourself up for a lot of headaches by contacting them or speaking with them. You could however send them a cease and desist letter. You could state that this debt is past NJ SOL and list that statute (as you did above) in your letter. Send it by certified mail. If they are not bothering you then let it alone!
I will tell you what I have seen to happen plenty of times including to myself. Once you send the cease and desist they really have no other option then trying to resell the debt to another collection agency. When they do that the next agency starts calling. Your best protection now is not making any payments and resetting the SOL. It will fall off soon enough and if they would sue you (which I highly doubt) they could not win due to the SOL anyway. Believe me they know that and will probaly not do anything anyway. |
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Mefisto04
Joined: 06 Jul 2009
Mefisto04's page
Posts: 8
416 Magic Points
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Tue Jul 21, 2009 3:15 pm
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Hi, fireyone thank you very much for help.
I really appreciate this.
They are not bothering me but, it is more to whole thing. I don’t want to open wormhole by contacting them but I want to apply for mortgage (my FICO are not that great but not very bad either)
I know that those records will be removed eventually but, shows unpaid balance now.
Usually banks want to see accounts paid and closed.
Reason for that is (I don’t know, just assuming) they are afraid of possible liens.
How should I approach this problem? |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 203
Location: McKinney, TX
954 Magic Points
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Tue Jul 21, 2009 11:30 pm
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For the record, statute of limitations is dependent on the consumer's CURRENT residence. No past address matters...
So in this case, the NJ SOL is of no consequence...
IL has a 10 yr SOL on written/promissory notes, and 5 yrs on oral/open-ended accounts...
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4494
8687 Magic Points
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Tue Jul 21, 2009 11:34 pm
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| In alot of states they can not put a lein on your property. On your bank accounts yes and your wages yes. Did you try for a mortgage? Now how many of these marks are on your credit? Is it just the one? My hubby had a abd mark about as old as yours and we managed to sucure a home loan for over $80,000. He did have a good score (in the upper 600 at the time, now higher). Of course he had other good credit established and only had the pone bad mark from an old credit card. |
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Olivia Davis
Guest
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Subject: Old student loan from a bank
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Wed Oct 14, 2009 4:40 pm
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| I also file bankruptcy in 2004, and the American student loans said it was paid of by insurance, and EMC, took the loan and double the price and put it on mu credit like I got the loan from them, and sent me a copy of a primosary note look like it was altered it not clear, the loan was in 1996, so now EMC is Garnishing my pay for payment, which i think is so wrong, if it was paid to the Bank by some insurance why should I pay Education Management corp. this money i never borrowed from them. |
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Victem of LVNV
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Subject: there real locatios revealed
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Thu Oct 15, 2009 12:22 am
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I got this information from court records so if any of it is wrong blame our judicial system.
1. Resurgent Capital Services LP
15 South Main Street
Greenville, S.C. 29601
2. Resurgent Capital Services LP
15 South Main Street #401
Greenville, S.C. 29601
3. Resurgent Capital Services LP
15 South Main Street Suite 700
Greenville, S.C. 29601
4. LVNV Funding LLC
15 South Main Street
Greenville, S.C. 29601
5. LVNV Funding LLC
15 South Main Street Suite 700
Greenville, S.C. 29601
6. Alegis Group LP
15 South Main Street
Greenville, S.C. 29601
7. Alegis Group LP
15 South Main Street, Suite 401
Greenville, S.C. 29601
8. Alegis Group LP
15 South Main Street, Suite 700
Greenville, S.C. 29601
9. Sherman Acquisition LP
15 South Main Street,
Greenville, S.C. 29601
10. Sherman Acquisition LP
15 South Main Street, Suite 401
Greenville, S.C. 29601
11. Sherman Acquisition LP
15 South Main Street, Suite 700
Greenville, S.C. 29601
12. Sherman Originator LLC
15 South Main Street Suite 401
Greenville, S. C. 29601
13. Sherman Originator LLC
15 South Main Street
Greenville, S. C. 29601
14. Sherman Acquisition
15 South Main Street
Greenville, S.C. 29601
Sherman Acquisition
Eliot Kite Sr. Director of Servicing Control
Michael Keaton Sr. Vice President
Algeis group, LP
Frank Smith Director of Legal Services
Resurgent Capital Services
Brice K. Smith A.V.P./ Senior Director
Michael A. Keaton Sr. Vice President
Frank Smith
Steven Horne
Tom Force employee unknown title
Tracy Hall employee unknown title
Tara Trantham Authorized Signatory July, 24,2007
Eliot Kite
David Richard Sr. Manager
Alegis Loan Services LLC 15 South Main Street Suite #401
Frank Smith AS attorney in Fact for Empire Funding Corp
Steven R. Horne Managing Director
Frank E. Smith Legal manager
Sheryl A. Emerson Legal manager
Alegis Group LP
Steven Horne Sr. Vice President
Michael Keaton Sr. Vice President
T Richard Hornaday Vice President
Frank Smith Legal Manager
Eliot Kite Senior Director
Brice Smith Senior Director
Citifinancial Services INC.
Michael Keaton Sr. Vice President Alegis Group as Attorney in Fact
Luke Unstetter Senior Manager
CitiFinancial 11436 Cronhill Drive, Owings Mills, MD 21117
Michael Keaton Vice President
LVNV Funding LLC
Kevin Branigan President
Sherman Acquisition LP
Kevin Branigan Authorized Representative
Steven Horne Executive Vice President Sr. Vice President
Scott Silver Authorized Representative
Frank Smith Attorney on Fact Legal Services Manager
Sherman Originator LLC
Laura M. Shaible Authorized Signatory
Steven Horne Sr. Vice President
Capital One FSB 1680 Capital One Drive, McLean, VA 22102
Frank Smith Attorney in Fact
Larry A. Klane President
PYOD LLC
Kevin Branigan President
Anson Street LLC
Kevin Branigan Authorized Signatory
Kevin Branigan President
Sherman Financial Group LLC
Scott Silver
Credit One Financial Services
Kevin Branigan Authorized Representative |
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wmfloyd007
Joined: 24 Oct 2009
wmfloyd007's page
Posts: 3
72 Magic Points
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wmfloyd007
Joined: 24 Oct 2009
wmfloyd007's page
Posts: 3
72 Magic Points
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Subject: authority to transact business
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Sun Oct 25, 2009 3:44 pm
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| The bottom line here is money and the way I see it is that we have the power to cost LVNV and friends (all the Sherman entities) lots of money. The first step is to check with the Secretary of State for your state to see if LVNV and friends have a cirtificate of authority from that state. If they do not then report them so the state can collect the fines. I have identified more than 13 legal entities owned and/or operated by 4 individuals. The legal entity name may change but the owners remain the same and the fines remain the same. Put your tax dollars to work and preform a public service at the same time. |
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wmfloyd007
Joined: 24 Oct 2009
wmfloyd007's page
Posts: 3
72 Magic Points
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Subject: the law is bacicaly the same in most states
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Sun Oct 25, 2009 9:43 pm
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SECTION 33-15-102. Consequences of transacting business without authority.
(a) A foreign corporation transacting business in this State without a certificate of authority may not maintain a proceeding in any court in this State until it obtains a certificate of authority.
(b) The successor to a foreign corporation that transacted business in this State without a certificate of authority and the assignee of a cause of action arising out of that business may not maintain a proceeding based on that cause of action in any court in this State until the foreign corporation or its successor obtains a certificate of authority.
(c) A court may stay a proceeding commenced by a foreign corporation, its successor, or assignee until it determines whether the foreign corporation or its successor requires a certificate of authority. If it so determines, the court may further stay the proceeding until the foreign corporation or its successor obtains the certificate.
(d) A foreign corporation is liable for a civil penalty of ten dollars for each day but not to exceed a total of one thousand dollars for each year it transacts business in this State without a certificate of authority. The Attorney General may collect all penalties due under this subsection.
(e) Notwithstanding subsections (a) and (b), the failure of a foreign corporation to obtain a certificate of authority does not impair the validity of its corporate acts or prevent it from defending any proceeding in this State. |
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