Consumer complaint received 2024-10-15
Product: Debt collection — Credit card debt
Issue: Written notification about debt — Didn't receive notice of right to dispute
Company: Resurgent Capital Services L.P. (GA)

I requested a debt validation letter from LVNV funding. Resurgent did responded and from their information provided, it appears that they are attempting to comply with the Fair Debt Collection Practices Act ( FDCPA ) by providing you with verification of the debt, as required under 15 U.S.C. 1692g.

However, there are still some points worth examining to determine if their response is fully compliant : 1. Debt Validation Notice : I did not originally receive a proper debt validation notice, which must include : A statement regarding your right to dispute the debt within 30 days.

Therefore, they may still be in violation of the FDCPA.

Moreover, based on my credit monitoring, I do not see the status of my credit monitoring as : 3. Disputed Status Reporting : LVNV Funding mentioned that the account will be reported as disputed during the next credit reporting cycle. I have not notice in my creditor report is labeled as accurately as disputed, this is a violation of the FCRA.

Upon further review, it is also clear that both LVNV Funding and Resurgent have failed to meet their obligations under both the Fair Debt Collection Practices Act ( FDCPA ) and Fair Credit Reporting Act ( FCRA ) for the following reasons : 1. Failure to Provide Proof of Assignment or Purchase Agreement : Neither LVNV Funding
nor Resurgent Capital Services has provided XXXX XXXX with documentation that evidences a valid assignment or purchase agreement between XXXX XXXX, XXXX. and LVNV Funding. While Resurgent has indicated that it is managing the account on behalf of LVNV Funding, no legal documentation has been furnished to establish LVNVs standing to collect or to be owner on this debt.

Under 15 U.S.C. 1692g ( b ), debt collectors are required to validate the debt by providing sufficient documentation that demonstrates the chain of ownership from the original creditor. An email or assertion is insufficient to establish LVNVs right to collect, and without the proper assignment or purchase agreement, I have grounds to dispute the validity of this debt.

2. Failure to Provide Required Validation Notice : I did not receive the mandatory notice of the right to dispute the debt within 30 days of initial contact, as required under 15 U.S.C. 1692g ( a ) of the FDCPA. This notice must include : The amount of the debt, The name of the creditor to whom the debt is owed, A statement of the debtors right to dispute the debt within 30 days of receipt of the notice, and A statement that if the debt is disputed, the collector will provide verification of the debt or a copy of the judgment.

To date, LVNV Funding and Resurgent have failed to provide proof that this notice was ever sent, which constitutes a violation of their obligations under the FDCPA.

3. Failure to Report Disputed Status to Credit Bureaus : Despite my disputes, LVNV Funding has not accurately reported the account as disputed to the major credit reporting agencies ( XXXX, XXXX, XXXX ), which violates 15 U.S.C. 1681s-2 ( a ) ( 3 ) of the FCRA. It is the debt collectors duty to update the status of the account as disputed when a consumer raises such a dispute, yet LVNV Fundings tradeline on my clients credit reports continues to reflect no such dispute.