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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 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 |
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.