Resurgent Capital serves their master, lvnv funding, with an insatiable appetite for money, your money. The owners of lvnv funding slurp up hoards of old and sometimes ancient charge offs for literally pennies on the dollar, ready to hand those bundles of old accounts to Resurgent, who then set their auto dialers on high. Resurgent Capital, a subtle play on words, ie bringing lifeless accounts back to life, uses a variety of tactics from a not so nice bag of tricks.
The most negative credit info is purposely placed with all 3 credit reporting agencies concerning the previous debtors accounts, where it can do the most damage to one's credit. This is the intended effect. Force people to pay money, if at all possible, yet offer them little or nothing in return if they do. Resurgent even has a bankruptcy line for those who throw in the financial towel. It's all about volume and numbers. Put the pressure on everyone, their individual past debtor stories or situations are secondary to lvnv fundings only target, massive money.
The credit info they place on individual credit reports can be highly inaccurate. Calling a closed account open, re-aging, listing a previous charge off as an installment, identifying an old charge off as a current tradeline and so forth. Have also noticed that other mysterious and suspect things occur on those credit reports. I can't think of anyone who deserves your money less than Resurgent Capital / lvnv funding.
In the hopes that you will become a cash cow for them, they will try and lure you into giving them money. Be very careful, this can and will restart the statute of limitations clock in your state as to how long they can attempt to collect an old and possibly out-dated debt. Don't even offer to send them 25 dollars. The amount of your token payment, however small, can renew the collectability of that old debt. Obviously, they don't want you to know this.
Resurgent's auto dialers may call your home phone or cell phone numbers multiple times each day. Keep up the pressure may be the unspoken motto here. Most importantly, if you choose to offer any sort of settlement, ALWAYS get their specific and detailed promises to you in writing, before you ever send them a payment. Please, do not send a wire, phone check, or post dated checks as a method of payment. This is common sense, you would have very little if any recourse once they get your money. Require debt validation from them early on through certified mail. Chances are they may not be able to provide that key debt validating step. Again, it may be best not to reward their bad behavior. Learn all you can about these outfits. Legally fortify and protect yourselves. You are far more important than a discount debt buyers desire for money. You already hold the high ground.
0 comments