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LVNC FUNDING, LLC
Original Creditor: Credit One Bank
Status, Collection acct $1736.00 past due as of Jan 2014
Date Opened 05/2009
Reported Status: 06/2013
Date of Status 06/2013
Last Reported 01/2014
Type Debt Buyer
Status Details: This account is scheduled to continue on record until Jul 2015. the item was updatedfrom our processing of your dispute in Feb 2014.
I live in FL, so im past the SOL for this correct?
@Season79 wrote:LVNC FUNDING, LLC
Original Creditor: Credit One Bank
Status, Collection acct $1736.00 past due as of Jan 2014
Date Opened 05/2009
Reported Status: 06/2013
Date of Status 06/2013
Last Reported 01/2014
Type Debt Buyer
Status Details: This account is scheduled to continue on record until Jul 2015. the item was updatedfrom our processing of your dispute in Feb 2014.
I live in FL, so im past the SOL for this correct?
When is the date of the first delinquency that was never brought current?
Per transunion's report...
LVNV Funding
Placed in collection 05/21/2009
Estimated month and year that this item will be removed: 09/2015
BUT, the OC says on the same report:
Credit one Bank
Last payment made on 09/14/2008
Date Closed: 01/18/2009
Last updated: 08/18/2012
Estimated month and year that this item will be removed: 09/2015
SOL is 4 years in FL. Just because its past your states SOL doesnt mean you wont be sued, some creditors use it as a threat and actually do sue past SOL, if they do it is your job to raise the SOL as a defense, the court will not know that SOL is involved if you dont raise it.
Just an FYI - Credit One Bank and LVNV are the same company, all part of Sherman Financial LLC
This is a bit slow to load, but it'll explain the relationship:
http://www.fairusenotabuse.com/lvnv-funding-sherman-resurgent/
@pipeguy wrote:Just an FYI - Credit One Bank and LVNV are the same company, all part of Sherman Financial LLC
This is a bit slow to load, but it'll explain the relationship:
http://www.fairusenotabuse.com/lvnv-funding-sherman-resurgent/
Great find BTW, that may prove to be useful because this smells fishy.
If I understand your post correctly, the OC "sold" the debt to the CA (which is really just a subsidiary company of the OC's parent). Yet they are reporting to the CRAs like they are separate entities. That would also explain the absurd amount of interest that seems to keep accruing despite the charge off nearly 6 years ago: they never truly "sold" the debt.
2nd FYI: LVNV stands for Las Vegas Nevada, which is where Sherman Financial Grp is HQ'd. They just pass the debt from one to another.
Seems to me that this would be some kind of fraud as they never really sell or transfer the debt.