Friday, November 23, 2007

Some interesting facts about Resurgent Capital

Resurgent Capital has several sister companies. The one that hurts consumers the most is LVNV Funding. They use this part of their organization to manipulate credit reporting. The way they do it is like most Junk Debt Buyers. They report incorrect dates dates of first delinquencies to poison credit reports.


DJ said...

You are correct. Several individuals in multiple states have reported that LVNV funding, which is intimately inter-twined with resurgent capital, willfully places innacurate tradeline data with credit reporting agencies, on numerous individual credit reports in ongoing attempts to siphon money from people, One of the lvnv funding tactics is to frequently change the claimed tradeline info, ever so slightly, which makes the claimed account appear more active and thus more often negative, thereby lowering the individuals credit score even more. Another questionable practice, is for someone from resurgent capital to agree to a settlement, require that the person send them a wire transfer immediately, as settlement, then say that resurgent capital can not send any settlement agreement in writing and then to quickly notify one of the credit reporting agencies that the account has been sold or transfered to another mysterious entity. Conveniently for Resurgent Capital or LVNV funding, your settlement money which would be wired to resurgent, promptly arrives to them, but guess what?? THEY can say they no longer own the claimed account, because the Resurgent folks did a quick switcharoo, but they got your money as agreed, and you have very little recourse. This would be very frustrating for common people who get burned by a place like resurgent capital - lvnv funding who willfully are not playing with a full deck of cards.

Barry Chasen said...

Are they related?