We’ve been getting questions about Sherman Acquisitions, who they are or what they are. We attempt to answer those questions with this document. Variations of the names that have shown up on foreclosure and bankruptcy procedures are Sherman Acquisitions LP, Sherman Acquisitions II, LP, and Sherman Acquisitions III, LP.
Outside of the court references and various forums I found little reference to the name. However, in the court filings, Sherman Acquisition was acting for the plaintiffs in bringing suit, leading me to believe they are part of the legal department or court recognized collectors. The names of some of the plaintiffs provided some interesting information. An example: Sherman Acquisitions LP v Some Persons Name, plaintiff LVNV Funding LLC.
Researching LVNV Funding led to this information: LVNV Funding purchases portfolios of both domestic (U.S.) and international consumer debt from credit grantors including banks, finance companies, and other debt buyers. As the new owner of any debt purchased from the original creditor or from another debt buyer, the LVNV Funding name may appear on a customers credit report, or in a letter from a collection agency if the account is delinquent.
If you are a customer and would like to speak to a representative of LVNV Funding about your account, please contact the Customer Service Department of Resurgent Capital Services LP (www.resurgent.com) at 888-665-0374.
Theoretically LVNV Funding has purchased the debt, and is ultimately the party being paid, Resurgent acts as a collector or servicer (receiver) for the funds on behalf of LVNV. Resurgent Capital Services LP:
PO Box 740281
Houston Texas 77274
Phone: 888-665-0374 (Tested and answered as Resurgent)
Resurgent Capital Services
15 S. Main Street
Greenville, SC 29601
Sherman Acquisitions, II LP has also been linked to Resurgent and Alegis Group, based on reports to message boards. Researchers have avoided using information on message boards in this document. Information has been confirmed by researching court cases, web site registrations, and other public records. Sherman Financial Group LLC owns or controls Resurgent Capital Services and Alegis Group.
Alegis Group LP
15 South Main St. Suite 600
Greenville, SC 29601
Phone: (864) 678-8593 answered as Resurgent Capital Services (answering machine)
Fax: (864) 370-4998
9700 Richmond Avenue
Houston, TX 77042
United States Tel: 1-713-784-9966
Information available from www.whois.sc shows Sherman Financial Group, LLC (www.shermfin.com ) as the registrant of the web sites for Resurgent Capital Services (www.resurgent.com and www.rcap.com), LVNV Funding (www.lvnvfunding.com ), and Alegis Group (www.alegisgroup.com , website is inactive).
A recent addition has been Ventus Capital Services. It is a joint venture between Timothy Beffa and Sherman Financial Group. To form the Ventus Capital joint venture, Beffa said he and his management team contributed a company they’ve been running in St. Louis called Credit Control Inc. Its customers are mostly in the health-care industry, he said.
Ventus Capital Services (www.ventuscap.com ) had the domain name registered to Ventus Capital Services, with the first record created 16 June 2004, according to record searches.
Sherman Financial Group LLC is a leading purchaser of distressed consumer debt. The company services and resells delinquent unsecured assets such as credit card receivables, student loans, auto deficiencies, high loan-to-value second mortgages, and bankruptcy debt. With the acquired resources Credit Control, Inc and Ventus Capital Services, expect to see them poised for the collection of medical and dental bills.
In the debt-purchasing ranking, Sherman Financial Group, based in New York, leads the way with $7 billion (value of the original debt) acquired in 2002 impressive growth from 2000, when it bought $4 billion. In 2002 Sherman paid $7 million for purchases with a face value of $7 billion and had $325M in revenue.
The following are addresses and telephone numbers are for Sherman Financial Group: Sherman Financial Group
85 10th Ave N
New York, NY 10011-4725
Sherman Financial Group
335 Madison Ave.F19
New York, NY 10017-4632
Sherman Financial Group, LLC
8600 Governors Hill Dr
Cincinnati, OH 45249
Researchers are reasonably sure that the above telephone numbers belong to offices of the Sherman Financial Group LLC. However, they also found some inactive web sites and telephone numbers. These may have been shut down either due to similarities in their names (Sherman Financial and Sherman Funding) or because of the unwanted attention that came because the names so closely resembled the name of a debt buying and collection company.
The information gathered for this report is or was publically attainable from unclassified sources. Household – HSBC Watch is not responsible for errors or omissions.
Before accepting a settlement offer from any debt collector or collection agency we advise our visitors to carefully read all the information on this website
Parts Two and Three of this document are here at HSBC Watch