Another LVNV Funding question

[Anonymous]

Hello everyone!

  I know that there is only about 400+ posts on how people have gotten in contact, disputed, filed complaints with the BBB, but I'm having some trouble with where exactly what to say or where to start.

 So I believe that the OC on this account was Capital One, charged off 9/2006. In 2007 LVNV showed up on my CR with a balance about $190 more expensive then my original charged off amount from Capital One. 

 It shows on Equifax as an open account with no activity. Im looking into how it shows up on my other CB's but the Equifax was the easiest to dispute. 

 I’ve sent a DV letter to Resurgent Capital Services In south Carolina. 

 Any advice on how to proceed? Too early to file a complaint with the BBB? 

[Shogun]

2006   It's old and getting older.  I'd shoot them a PFD.  What's the SOL of your state?

[Anonymous]

Sent them a DV, and the SOL in PA is 4 years on written and open contracts. 

 Since the SOL has expired, that just means that they can't try to collect the amount, I can't get them to remove the negative info because of it right? 

[Anonymous]

This is how it reports on my CR 

LVNV FUNDING LLC
PO Box 10497
Greenville, SC 29603-0497
(888) 665-0374
Account Number: XXXX

Current Status:

Account Owner: Individual

Account. High Credit: $607

Type of Account : Open Credit Limit: $0

Terms Duration:

Terms Frequency:

Date Opened: 02/22/2008

Balance: $517

Date Reported: 01/22/2013

Amount Past Due: $517

Date of Last Payment: 09/2009

Actual Payment Amount: $0

Scheduled Payment Amount: $0

Date of Last Activity: N/A

Date Major Delinquency First
Reported: 05/2008

Months Reviewed: 50

Creditor Classification:

Financial Activity Description: N/A

Charge Off Amount: $0

Deferred Payment Start Date:

Balloon Payment Amount: $0

Balloon Payment Date:

Date Closed:

Type of Loan:

Date of First Delinquency: 07/2007

Comments: Consumer disputes this account information,
Collection account

[guiness56]

---

@Anonymous wrote:

Sent them a DV, and the SOL in PA is 4 years on written and open contracts. 

 Since the SOL has expired, that just means that they can't try to collect the amount, I can't get them to remove the negative info because of it right? 

---

No, the SOL does not mean they can't try to collect the amount due.  It just means they cannot sue you and win, if you used expired SOL as a denfense.  They can continue to attempt to collect forever.

Suing SOL, which is state, has nothing to do with the length of time it stays on your CR, which is federal.

[Shogun]

Send them a PFD.

[RobertEG]

Is the issue that a debt collector is now reporting, or is the issue only one of the amount of the asserted debt?

The fact that the OC did a charge-off is really irrelevant as to any future reporting.  They have apparently either retained ownership and hired the debt collector to pursue collection of the debt, which is still owed in full, or they have sold the debt to the debt collector.

The debt collector is then enttiled to report their collection, so I dont see an inaccuracy there.

As for the amount of the asserted debt, the touchstone for determining what they can and cannot atttempt to collect is FDCPA 808(1), which states that it is a violation for a debt collector to attempt to collect any amount that is either not clearly authorized in the original account agreement that created the debt, or is otherwise permitted by law.

The consumer can, in their DV, request an itemization of the debt.  The courts have realized that, in order to determine whether the charges are permissible under section 808(1), the consumer needs an itemization.  Thus, the simple fact that they are asserting more debt than that the principal incurred under the oriiginal account agreement does not address the specifics of whether they are nonetheless permissible under section 808(1).

You must review your original account agreement and determine whether it includes specific authorization for such amounts.  If not, you must then research your state debt collection statutes and determine whether they create some provision of law that permitis their collection.

It appears to be premature to either file a complaint with the FTC/BBB or take your own legal action.  Hopefully they will respond to your DV with sufficient information to enable you to determine if the fees are authorized.