LVNV Funding. LLC is a national debt buyer located in Greenville, South Carolina and owned by parent corporation, Resurgent Financial Group. Resurgent also buys debt for its own account.
Of particular interest is the purchase by LVNV of consumer debt originating at HSBC. HSBC has long operated in the United States through various subsidiary entities such as Household Finance, HSBC USA and, HSBC Nevada, which issued HSBC credit cards. In 2011, HSBC closed its U. S. credit card operations to focus on its international business, and stopped issuing credit cards in the United States. As part of this shift in focus, HSBC sold its U. S. credit card portfolio to Capital One Bank. Each consumer HSBC card was replaced with a Capital One card. LVNV also acquired a large number of HSBC accounts, some from Capital One and some directly from HSBC.
Here’s why you need to know this: LVNV may have difficulty proving a valid “chain of title” for its HSBC debt – that is: LVNV may not be able to prove that it purchased your defaulted account, from the same HSBC entity which issued the credit card. Keep in mind that each HSBC subsidiary is a totally separate company. So a purchase from one subsidiary is not – as LVNV would have you believe – a purchase from any other subsidiary bearing the HSBC name. The seller of the account to LVNV must be the precise HSBC entity that issued the card. And often it is not ! This is a fatal flaw which can result in a highly favorable outcome.
Insofar as debts purchased from other lenders, LVNV is generally amenable to settlement. So, if you’ve been sued by LVNV, contact us by phone toll-free at 877-551-0210 or by email at email@example.com to discuss your options; and keep your eye out for cases originating at HSBC.