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Debt Collecting? UCB and Resurgent Capital

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Received letter from UCB. On it, it said, Client is Resurgent Capital, owner of debt was LVNV. I sent in debt validation letter to UCB with no response. Today I received letter from Resurgent Capital. Why didn't Resurgent Capital collect on this debt in the first place? Should I send in another debt validation letter to Resurgent Capital?




Dear Mare,

As you mentioned in your post that LVNV is the owner of the debt, so, it seems to me that it has bought the loan from the original creditor.



Actually it buys debts in bulk from its original creditors and then appoints other CAs or attorneys for collecting the same. UCB may be such a CA and I don????????t think that they will be able to validate your debt because I doubt that they possess any information for verifying the same.

Now, Resurgent Capital has sent you a mail. But certain things are not much clear to me from your post. Please answer the following questions so that we community members can help you better: -
1. Is Resurgent Capital your original creditor?
2. Was your account charged-off?
3. What did the letter (sent by Resurgent Capital) say? [Please give the summary of it and not any personal information mentioned therein]

Regards,

Phoenix

Sub: #1 posted on Tue, 06/17/2008 - 09:55

phoenix phoenix
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(Posts: 1444 | Credits: 275.38)

Mare, I think phoenix is right. LVNV is known to have tie-ups with many attorneys and collection agencies. They sell these accounts off to their partners and they collect the debts on behalf of LVNV.

IMO if you get the opportunity to deal with the original creditor, you should utilise it to its fullest. It has been experienced that it's easier to deal with the original creditor than dealing with these thrid party collection agencies.

Sub: #2 posted on Tue, 06/17/2008 - 10:19

tweetyturner tweetyturner

(Posts: 278 | Credits: 32.99)

Quote:
Why didn't Resurgent Capital collect on this debt in the first place?


Because they can.

Quote:
Should I send in another debt validation letter to Resurgent Capital?

Yes.

Sub: #3 posted on Tue, 06/17/2008 - 12:40

Morningstar Morningstar

(Posts: 1634 | Credits: 124.78)

Mare2847 -

I'm gonna move this to the collection agency forum, if you don't mind. You'll get better exposure and more/faster help there.

-------------------

Now then... Yes, you should send another DV letter to Resurgent Capital. And one to LVNV, as well. That may prevent them from farming your account to another of their shell companies when Resurgent fails to validate. FWIW, LVNV and Resurgent [and about 14 other companies] are all inter-related. DV one of them, and the account gets yanked back and sent to another. That's one way they sidestep the law. There's one person on here who's been doing that dance with them for better than two years.

I had MRS associates calling on a decade-old account of my wife's. I DV'ed them, and they shut up. Less than a week later, Resurgent called on the same account, trying a different approach. MRS tried the pay-up-or-else approach. Resurgent tried the 'I-really-want-to help approach. I finally got the rep at Resurgent to admit that LVNV owned the account. Then I sent this letter to both LVNV and Resurgent, CM/RRR. That was three months ago, and I've heard not peep out of anybody on the matter since.

Sub: #4 posted on Tue, 06/17/2008 - 15:59

unclewulf unclewulf
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(Posts: 3173 | Credits: 315.03)

[quote=Phoenix]1. Is Resurgent Capital your original creditor[/quote]

Resurgent, LVNV, and their various shell companies are [mainly junk] debt buyers. They can never be anybody's original creditor, regardless of what tricks they try to pull, since they are not in the business of extending credit to anybody. They are in the collections business, plain and simple, and are subject to fdcpa as third-party collectors.

Sub: #5 posted on Tue, 06/17/2008 - 16:14

unclewulf unclewulf
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(Posts: 3173 | Credits: 315.03)

1. Original Creditor was Washington Mutual. Written off 10/2007.
2. Got a phone call and a notice from UCB. Wanting the full payment or monthly payments of $625.00 for 12 months. Continually got phone calls at work & at home. Threats of garnishing my wages, telling my employer, my neighbors. I never ansered the phone calls
3. On May 30th I sent UCB a request for a debt validation. No response and no more phone calls.
4. Got two phone calls from LVNV, a computer message and that was it.
5. Received a letter from Resurgent Capital telling me my account has been placed with Resurgent and enclosed was an original validation of debt that verifies the debt.
The validation of debt states:
Acquired from Washington Mutual is now owned by LVNV Funding. Additional fees added. The amount listed is wrong. And a privacy notice is enclosed too.
I hope this makes sense. I also, want to thank you for your response.
Mary

Sub: #6 posted on Wed, 06/18/2008 - 07:10

mare2847 mare2847

(Posts: 6 | Credits: 4.72)

Mare2847 they did not validate the debt. Validation includes and is provided by the Original Creditor only:
The original contract,
Proof that LVNV is the legal owner of the debt.
How they came to the amount owed.
If they charged interest, that the interest is legally allowed.

Send them the debt validation letter that also states that they can only contact you via USPS, CMRR.

Sub: #7 posted on Wed, 06/18/2008 - 09:15

Unregistered


Dear Unclewulf,

Thanks for the information as well as explaining the dynamics involved in such debt collection practices, as always.

Mary???????Please proceed as suggested by Unclewulf and send a DV letter via certified mail to Resurgent Capital for verifying the debt. Certification of mail will help you to get a proof that the concerned collection agency had received the mail.

Quote:
Original Creditor was Washington Mutual. Written off 10/2007.


You have written that your original creditor, Washington Mutual, had written off your debt. By write-off did you mean cancellation of the debt or charge-off? If you mean charge-off then it is evident that the original creditor has sold the debt to a collection agency like Resurgent Capital, UCB or LVNV. In case you want to settle the account then it is better if you contact the original creditor and settle it with them directly.

Regards,
Phoenix

Sub: #8 posted on Wed, 06/18/2008 - 16:22

phoenix phoenix
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(Posts: 1444 | Credits: 275.38)

Phoenix is incorrect in that--once the account is sold, the original creditor no longer has anything to do with it. contacting them now will not get you anywhere. The letter you received already states that LVNV owns this debt now.

Sub: #9 posted on Wed, 06/18/2008 - 20:36

Unregistered


The OPcould call WaMu to find out whether it's been sold, or merely placed/assigned to LVNV/Resurgent, but it's largely a waste of time. I wouldn't screw with it, myself. LVNV/Resurgent are the ones doing the collecting now, so burden of proof is on them. Not the OP, not WaMu. Given that LVNV turned up with it, I suspect it's been sold outright.

Sub: #10 posted on Wed, 06/18/2008 - 22:19

unclewulf unclewulf
Moderators
(Posts: 3173 | Credits: 315.03)

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