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Bond for CAs in Texas

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Shokk
Established Contributor

Bond for CAs in Texas

I've been reading up on Texas collection laws and came across something I didn't know.  Well, I've come across lots of things I didn't know!

 

In Texas, you have to carry a surety bond in order to collect in Texas.  Doesn't matter what state the CA is from.  I've discovered that LVNV does not have a bond in Texas, and accordingly cannot collect or report negative data to any CRA.  In my case they have, so should be able to get it removed.

 

Here's the issue.  They've apparently assigned another company (Allied Interstate) to collect for them.  They are bonded in Texas.  Anyone know if this is legal?  I know an OC can assign or sell debt, but this sounds a little squirrelly to me.  I've yet to find an answer. If I do, I'll update in case anyone else is wondering in the future.

 

Thanks.

I don't know my start scores, but low 500s. 6/2013

2/19/15
EQ FAKO - 638
EX FICO - 665
TU FICO - 697
Message 1 of 5
4 REPLIES 4
guiness56
Epic Contributor

Re: Bond for CAs in Texas

I believe they do have a bond.

 

Principal Name: LVNV Funding LLC # 1
Address:625 Pilot Road Suite 2
Las Vegas, NV 89119 
File Number:20060026 
Status:Active 
Date Filed:2/7/2006 
Cancellation Date: 
Phone: 
Bonding Company:RLI Insurance Company  
Bond No:CMS226412 
Message 2 of 5
Shokk
Established Contributor

Re: Bond for CAs in Texas

Ah. I searched using the address from my CR. Didn't find it. Thanks. LVNV Funding, LLC PO Box 10497 Ste 110, Ms576 Greenville, SC. 29603
I don't know my start scores, but low 500s. 6/2013

2/19/15
EQ FAKO - 638
EX FICO - 665
TU FICO - 697
Message 3 of 5
guiness56
Epic Contributor

Re: Bond for CAs in Texas

I don't know if all the addresses need to be bonded or just the company.  They are owned by Sherman Acquitions and I couldn't find them.

Message 4 of 5
Shokk
Established Contributor

Re: Bond for CAs in Texas

I was curious about that myself. Might be worth a call to the State to find out.
I don't know my start scores, but low 500s. 6/2013

2/19/15
EQ FAKO - 638
EX FICO - 665
TU FICO - 697
Message 5 of 5
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