Credit One Bank/Resurgent/LVNV/CFPB

[SunnySideUp32]

FYI: I am out of lawsuit SOL. I am not worried about them trying to sue because I have the best affirmative defense: Time-Barred. California is 4 years. Last payment made was late 2007 to OC which they acknowledge so you would think they wouldn't be crazy to try a lawsuit. Either way, I'm not losing any sleep over it but I will challenge them at every turn to get this off my report early.

 

Heard from Resurgent regarding the CFPB complaint. They explained why they report as factoring account blah blah blah. They included a bill of sale with an Exhibit A attachment with a receivable file date, transfer group number and portfolio number, nothing else listed. They sent an identity theft form. These folks need to get real. I don't have to prove I don't owe you, you have to prove that I do and then we can go from there. Of course I'm not submitting an identity theft form, I'm sure they know that. They did tell the CFPB that their answer was partial and they are still investigating and they will respond again within 60 days.

 

Those folks and their chain...MHC to Sherman to LVNV, then Resurgent collects for LVNV. Of course Sherman would transfer junk debt to their limited liability company, which probably has very little assets so Sherman can protect itself from big lawsuits.

 

I forgot to mention they included the infamous one statement from OC before charge off that says pay or they will charge off.

 

I'm not going away until they decide I'm a lost cause and delete. I don't owe them nothing and that's exactly what I'm paying them. As long as I am stuck looking at them on my credit report, they will get dispute letter after dispute letter. Not constantly with the CRAs though. I don't want the frivolous label. I still have open jack attack disputes with all three bureaus so hopefully they will get thrown off my report this way.

[Clydesmom]

Technically you DO owe them. You are simply fortunate that you are beyond the time frame where they can sue you for it. That does not mean that they have to stop reporting the debt to the CRAs one day sooner than 7.6 years.

 

Feel free to dispute all you want but the problem you have is that Credit One, LVNV, and Resurgent are all owned by the same company the Sherman Group so chain of custody is not an issue for them. They are the OC.

 

Odds are pretty good that they will dig in their heels and make you wait it out no matter how big a pain the behind you make of yourself. Scroll through the threads and see how many others are in a similar situation.

[SunnySideUp32]

Technically you DO owe them. You are simply fortunate that you are beyond the time frame where they can sue you for it. That does not mean that they have to stop reporting the debt to the CRAs one day sooner than 7.6 years.

 

Feel free to dispute all you want but the problem you have is that Credit One, LVNV, and Resurgent are all owned by the same company the Sherman Group so chain of custody is not an issue for them. They are the OC.

 

Odds are pretty good that they will dig in their heels and make you wait it out no matter how big a pain the behind you make of yourself. Scroll through the threads and see how many others are in a similar situation.

I disagree. I don't technically owe them anything. No one gets to say, hey you, you owe us money, here is a final bill, now pay it. If they say I owe it, then they are gonna have to prove what purchases were made and when, to prove how any debt came to be. Interest, late fees, junk fees don't come in to play until after they show what created a debt that lead to a charge off and they haven't showed that, not even in their response to the CFPB. Might explain why they requested more time to investigate their records. At the end of the day, if they are going to report a debt they can't legally force me to pay, they are going to prove that I opened the account and made purchases. The JDBs are out of control. If the OCs want to come after charge-offs, they can and they have the legal authority and records to do so. But taking a tax break on a charge off and selling it to JDBs has created a nightmare for consumers. If a legitimate company buys a current debt, they have every right to seek payment, but don't buy a bad debt that the alleged OC says is a lost cause and then claim somebody owes you. JDBs injure themselves and then claim to be the victim.

 

But win or lose, I'm gonna fight for me because if I don't fight for myself, no one else will.

 

On a different note, Experian still hasn't increased your score yet? 598 seems really low for 2 baddies. Are they recent? I'm at 7 with 549.

 

Do you know how long it takes the actual FICO score to update after changes occur in your files? Myfico monitoring is about $15/month. Does anybody else give true fico scores for cheaper?

Edited May 17, 2013 by SunnySideUp32

[Clydesmom]

i haven't purchased new scores since last month. I don't pay for monitoring or belong to any place to get it included.

 

You do owe the money and unlike other collection agencies or junk debt buyers the OC is part and parcel. While they are researching the account the reality is the only thing they cannot do is sue you. VERY little is needed to report to CRAs. So feel free to tilt at the windmill but what is required to report is the same low threshold that is needed to ask that you pay it. The CA or JDB does not have to meet the burden of proof necessary for court just to satisfy you.

[SunnySideUp32]

i haven't purchased new scores since last month. I don't pay for monitoring or belong to any place to get it included.

 

You do owe the money and unlike other collection agencies or junk debt buyers the OC is part and parcel. While they are researching the account the reality is the only thing they cannot do is sue you. VERY little is needed to report to CRAs. So feel free to tilt at the windmill but what is required to report is the same low threshold that is needed to ask that you pay it. The CA or JDB does not have to meet the burden of proof necessary for court just to satisfy you.

Every month that they update with a new balance, they (not the CRA) are getting a dispute letter. A stamp doesn't cost much and besides, the USPS needs the money.

[SunnySideUp32]

On the bight side, they will be gone for sure next year! We are not considering a house now so that's good. House time frame is 3-5 years. Absent early removals, I will have clean reports before the end of next year. LVNV and Credit One is set to fall off in the fall of 2014. Everything else falls off this this year and by February 2014.

[NEWSTARTIN2013]

Wow!

Edited May 19, 2013 by NEWSTARTIN2013

[SunnySideUp32]

Update on this old thread: Credit One Bank is gone from Experian!!!!!!! I will update when TransUnion and Equifax follow suit.

[IPADFAN85]

Good work. So happy for you!!

[ICANHASMUNY?]

SO, if Credit one has fallen off,

 

is LVNV funding still reporting?

 

threaten to sue.

[funkiehouse]

Update on this old thread: Credit One Bank is gone from Experian!!!!!!! I will update when TransUnion and Equifax follow suit.

 

Did you just keep disputing?