original creditor:conn appli.,inc unpaid account owed to lvnv funding llc but i got a letter from scott,parnell & associates pc is this sound rite ?
You're assuming that the contract you signed when you bought the furniture only allows Texas law to be applied - it may very well impose another state's law, one with a much longer SOL. Plus, you're also forgetting that SOL's are affirmative defenses, meaning you'd have to litigate the issue, allege the SOL violation, and PROVE it in court - a waste of time if you don't deny owing the money in the first place.
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Conns carriers their paper in house last time I knew. The limitations issue is tricky on a CC debt. I suggest you contact a civil defense lawyer.
The Statute of Limitations depends on what state law governs the contract. Generally, the law of the place where the contract is executed governs. If this is Texas, then Statute of Limitations is four years from the date of the delinquency. As for change in collectors, the creditor may have transferred the debt to a new collector, which is very common, or the collector/debt buyer LVNV Funding, LLC may have transferred the case to a local law firm to file the lawsuit. In any event, you would need to retain a local Attorney who handles debt collection defense cases to further assist you with this case.
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You may have a claim for violation of the Fair Debt Collection Practices Act. Each violation of the Act is worth up to $1,000 to you, any actual damages, and mental anguish, plus attorney fees. The letter from Scott Parnell may have violated the law. You need a debt collection/agreement attorney to assist you.
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Conn's is based out of Beaumont, TX and their contracts apply TX law, generally. Although the statute of limitation is 4 years, the events that cause the "clock" to begin to run (and maybe even toll -- or be suspend from running) are not always obvious. If it has been over four years since your default under the contract (and if you have not promised to pay them since that time), then LVNV Funding may be violating state and federal debt collection laws. But details matter, so I'd seek out a qualified attorney if you are sued or if they continue to collect.
Generally speaking, The statute of limitations on consumer debt is four years from the time their cause of action accrues, which generally means from the time you stopped paying on the debt.
However, if it was installment debt, as it probably was, many Texas courts have treated each individual installment payment as a separate contract, thus some of your installment payments could be outside of the statute of limitations, while others would still be within the statute of limitations.
On this one, I think you would be well advised to have a consultation with a qualified attorney practicing in the debt collection field, especially once you have been served with a lawsuit, which I suspect will probably happen in the near future.
I have dealt with Scott Parnell & Associates many times in assisting clients with these types of issues, and in my experience the are stubborn and refuse to reduce the amount initially, but they will generally settle debt for substantially less once you have an attorney on your side, especially if there is potentially a statute of limitations issue.
Keep in mind, that this post is for educational purposes only, and you should consult an attorney in person to advise you on the matter. Reading this information does not create an attorney-client relationship. If you want to create an attorney-client relationship, you need to contact me directly, otherwise I am not your attorney, and do not represent you.
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