Consumer complaint received 2024-04-19
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Resurgent Capital Services L.P. (GA)

LVNV FUNDING continues to report that I owe them a debt and they provided with will copies of billing statements from another company letterhead. Under federal law I have no contractual obligation to pay any third party debt collector unless there is an agreement. Purchasing a contract does not automatically give rights to collect. LVNV FUNDING keeps alleging they are following law but are not. Provide me with the documents that have their name and letterhead with my signature if no documents exist LVNV FUNDING has 14 days from the notice of this complaint that I will be suing them in court for damages they have caused. Furthermore any account termination by a creditor that results in a balance due is owed to the consumer if LVNV Funding is exempt from this law provide the documentation that the federal government provided to exclude this company. 

a ) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument. 

( b ) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of the transferor to enforce the instrument, including any right as a holder in due course, but the transferee can not acquire rights of a holder in due course by a transfer, directly or indirectly, from a holder in due course if the transferee engaged in fraud or illegality affecting the instrument. 

( c ) Unless otherwise agreed, if an instrument is transferred for value and the transferee does not become a holder because of lack of indorsement by the transferor, the transferee has a specifically enforceable right to the unqualified indorsement of the transferor, but negotiation of the instrument does not occur until the indorsement is made. 

( d ) If a transferor purports to transfer less than the entire instrument, negotiation of the instrument does not occur. The transferee obtains no rights under this Article and has only the rights of a partial assignee. 

1026.11 Treatment of credit balances ; account termination. 
( a ) Credit balances. When a credit balance in excess of {$1.00} is created on a credit account ( through transmittal of funds to a creditor in excess of the total balance due on an account, through rebates of unearned finance charges or insurance premiums, or through amounts otherwise owed to or held for the benefit of the consumer ), the creditor shall : ( XXXX ) Credit the amount of the credit balance to the consumer 's account ; ( XXXX ) Refund any part of the remaining credit balance within seven business days from receipt of a written request from the consumer ; ( XXXX ) Make a good faith effort to refund to the consumer by cash, check, or money order, or credit to a deposit account of the consumer, any part of the credit balance remaining in the account for more than six months. No further action is required if the consumer 's current location is not known to the creditor and can not be traced through the consumer 's last known address or telephone number. 

( b ) Account termination. 

( XXXX ) A creditor shall not terminate an account prior to its expiration date solely because the consumer does not incur a finance charge. 

( XXXX ) Nothing in paragraph ( b ) ( XXXX ) of this section prohibits a creditor from terminating an account that is inactive for three or more consecutive months. An account is inactive for purposes of this paragraph if no credit has been extended ( such as by purchase, cash advance or balance transfer ) and if the account has no outstanding balance. 

( c ) Timely settlement of estate debts ( XXXX ) General rule. 

( i ) Reasonable policies and procedures required. For credit card accounts under an open-end ( not home-secured ) consumer credit plan, card issuers must adopt reasonable written policies and procedures designed to ensure that an administrator of an estate of a deceased accountholder can determine the amount of and pay any balance on the account in a timely manner. 

( ii ) Application to joint accounts. Paragraph ( c ) of this section does not apply to the account of a deceased consumer if a joint accountholder remains on the account. 

( XXXX ) Timely statement of balance ( i ) Requirement. Upon request by the administrator of an estate, a card issuer must provide the administrator with the amount of the balance on a deceased consumer 's account in a timely manner. 

( ii ) Safe harbor. For purposes of paragraph ( c ) ( XXXX ) ( i ) of this section, providing the amount of the balance on the account within 30 days of receiving the request is deemed to be timely. 

( XXXX ) Limitations after receipt of request from administrator ( i ) Limitation on fees and increases in annual percentage rates. After receiving a request from the administrator of an estate for the amount of the balance on a deceased consumer 's account, a card issuer must not impose any fees on the account ( such as a late fee, annual fee, or over-the-limit fee ) or increase any annual percentage rate, except as provided by 1026.55 ( b ) ( XXXX ). 

( ii ) Limitation on trailing or residual interest. A card issuer must waive or rebate any additional finance charge due to a periodic interest rate if payment in full of the balance disclosed pursuant to paragraph ( c ) ( XXXX ) of this section is received within 30 days after disclosure.