Second Round Sub, LLC on Your Credit Report: What to Know

Second Round Sub, LLC is a junk debt buyer headquartered in Austin, Texas that purchased your charged-off debt for as little as two to five cents on the dollar and is now attempting to collect the full balance. They operate alongside two related entities, Second Round LP and Third Round LP, all managed from the same Austin office.

Second Round Sub files lawsuits aggressively and counts on consumers not responding. A Texas default judgment is enforceable for ten years, renewable indefinitely, and gives them the ability to freeze bank accounts, garnish wages, and seek court-ordered receivership. This guide covers who Second Round Sub is, their documented legal history, and how to respond.

Who Is Second Round Sub?

Second Round Sub, LLC is a debt-buying company incorporated in 2008 and headquartered in Austin, Texas. The BBB has accredited them since 2017 and gives them an A+ rating with 36 documented complaints. The CFPB has closed 34 complaints against them.

Second Round Sub purchases charged-off credit card accounts, auto loan deficiencies, utility bills, telecom accounts, and FinTech loans. The related entities Second Round LP and Third Round LP operate alongside Second Round Sub from the same Austin address.

Three Related Names, One Operation

Second Round Sub, LLC, Second Round LP, and Third Round LP are three separate legal entities operating from the same Austin, Texas location under the same leadership. All three names can appear on collection letters and credit reports.

A 2017-2018 class action was filed by two New York consumers specifically because they received letters identifying Second Round Sub as the “Current Creditor” while the body of the letter stated “Third Round L.P. is excited to offer you 2 money saving options.”

The complaint alleged that having two different company names in a single letter without clearly identifying who the current creditor actually was violated FDCPA Section 1692g, which requires the collector to clearly identify the current creditor in initial collection communications.

If you received a collection letter from any of these entities that identifies multiple company names without clearly stating who currently owns the debt, document that letter before responding.

The Lawsuit-First Business Model

Second Round Sub’s documented collection model is built around filing lawsuits rather than extended phone campaigns. Multiple consumer defense attorneys describe their approach as filing as many cases as possible and collecting default judgments from consumers who do not respond.

In Texas, a judgment is enforceable for ten years and renewable indefinitely. Armed with a judgment, Second Round Sub can freeze bank accounts through receivership motions, garnish wages, and block property transactions. A documented case describes one consumer who ignored a Second Round lawsuit resulting in an $8,500 default judgment and 25% wage garnishment that continued for two years.

If you receive a summons from Second Round Sub, respond before the deadline. Texas state courts typically allow 14 to 30 days. Responding does not require an attorney and preserves all your legal defenses, including documentation challenges and statute of limitations arguments.

Documentation Challenges in Second Round Lawsuits

Multiple consumer defense attorneys note that Second Round Sub, like most junk debt buyers, may not possess the full documentation needed to prove their case at trial. Specifically, they may lack the original signed credit agreement, a complete payment history, itemized accounting from the original creditor, or a documented chain of assignment from the original creditor through every subsequent buyer to Second Round Sub.

Requiring Second Round to produce this documentation is a recognized defense that has succeeded in multiple cases. Even if you believe you owe the underlying debt, requiring them to prove ownership and the exact amount is your legal right and may reveal gaps in their records.

The 2013 Michigan Case: Limits of Informal Disputes

A November 2013 federal case in the Eastern District of Michigan alleged Second Round LP failed to respond to a dispute request, continued collecting, made robocalls to the consumer’s workplace and cell phone, and violated multiple federal statutes. The case was dismissed in January 2014.

The dismissal is instructive: the court found the plaintiff failed to provide written notice of the dispute, failed to identify specific FCRA sections in their complaint, and failed to prove the calls were automated. This underscores the importance of sending dispute letters by certified mail with specific language referencing the FDCPA and documenting automated calls with dates and times before filing a claim.

What Second Round Sub Cannot Do Under Federal Law

Based on their documented case and complaint record:

• Send collection letters that fail to clearly identify the current creditor: The 2017-2018 class action was filed specifically because letters identified multiple entities without clear creditor disclosure. FDCPA Section 1692g requires the current creditor to be clearly identified.
• Continue collecting after a written validation request without providing documentation: A documented FDCPA complaint pattern. The 2013 Michigan case was dismissed partly because the consumer’s dispute was not in writing; always dispute in writing.
• Make robocalls to cell phones without consent: A documented TCPA complaint pattern. Each unauthorized automated call is worth $500 to $1,500 per call.
• Sue on time-barred debt: Texas has a 4-year statute of limitations on written contracts. A lawsuit filed after the limitation period is an FDCPA violation.
• Obtain a default judgment without properly serving the consumer: If you were not properly served, a default judgment can be challenged in court.

Verify the Debt Before Paying Anything

Send a written validation request by certified mail within 30 days of first contact. Request the original creditor’s name, the account number, the date of charge-off, the full chain of assignment from the original creditor to Second Round Sub, and the purchase price paid for the portfolio or your specific account.

Texas has a 4-year statute of limitations on written contracts including credit card debt. Confirm the date of last payment before engaging or paying anything.

How to Check Your Credit Report for Second Round Entries

Search all three credit reports for “Second Round Sub,” “Second Round LP,” and “Third Round LP.” Confirm the original creditor is identified and the balance matches what the original creditor recorded at charge-off. If multiple Second Round entities appear on your report, confirm whether they represent the same underlying account reported under different names.

Your Options for Resolving a Second Round Sub Account

• Respond to any lawsuit immediately: Second Round Sub’s documented model relies on default judgments. Responding forces them to prove the debt. Even a simple denial preserves all your defenses.
• Request the full chain-of-assignment documentation: Junk debt buyers frequently cannot produce complete assignment records. Requesting this before or after a lawsuit is filed is a recognized and effective defense.
• Check the Texas 4-year statute of limitations: Second Round purchases old charged-off accounts. Confirm the last payment date before paying anything or responding to a lawsuit.
• Document every automated call to your cell phone: The 2013 Michigan case shows TCPA claims require proof the calls were automated. Log date, time, and the nature of each call.

How to Contact Second Round Sub

• Office address: Second Round Sub, LLC, 1701 Directors Boulevard, Suite 900, Austin, TX 78744
• Mailing address: P.O. Box 41955, Austin, TX 78704
• Phone: (866) 950-6357 or (512) 448-2600

Bottom Line

Second Round Sub is a junk debt buyer that purchased your debt for a fraction of its face value and files lawsuits aggressively, counting on default judgments. A Texas default judgment is enforceable for ten years and gives them bank account and wage garnishment tools.

If Second Round Sub has sued you, respond before the deadline regardless of whether you believe you owe the debt. Requiring them to document their ownership of the specific account has succeeded as a defense in multiple cases. If they have not yet sued, send a written validation request demanding the full chain of assignment before paying anything.