LVNV Funding

[Nina Mari]

Hello All!

I'm new here & grateful to learn so much from this forum. I too have LVNV on my credit report for 2 credit cards I had back in college (about 5 yrs ago) that I would love to have removed! They are the meanest collection agency, they truly don't want to work with people so I was pretty much like fine, whatever I'll just wait for the statute of limitation to be up on this debt but if I could get it removed sooner that would really help take my credit score to the next level.

Patrick you're right, they are reporting the debt to the credit bureaus as an Installment loan when both were Dept Store CC (JCPenney, Walmart)...

So my question is, what type of letter am I supposed to send them? Does anyone have a template?

[kdb030609]

Hello All!

I'm new here & grateful to learn so much from this forum. I too have LVNV on my credit report for 2 credit cards I had back in college (about 5 yrs ago) that I would love to have removed! They are the meanest collection agency, they truly don't want to work with people so I was pretty much like fine, whatever I'll just wait for the statute of limitation to be up on this debt but if I could get it removed sooner that would really help take my credit score to the next level.

Patrick you're right, they are reporting the debt to the credit bureaus as an Installment loan when both were Dept Store CC (JCPenney, Walmart)...

So my question is, what type of letter am I supposed to send them? Does anyone have a template?

Depending on what state you live in. You may not have to wait much longer. Just make sure you don't do anything to restart the clock on that old debt. Companies like them play dirty. They will try anything to try and scare you into doing something stupid so watch your back. If you have discovered they broke the law. Then you should also contact the Federal Trade Commision. If the statute of limitations has run out. Then they are SOL and tell them to stop calling. Make sure you document everything. Good luck!!!

[LOURDES305]

Have any of you paid LVNV Funding any amount of money or is making payments?

[patrick12]

LVNV funding is up to their same old tricks again! About 4 months ago, I disputed 2 collection accounts with them after they refused to respond with debt verification letters! They were both removed fairly quickly, I get an email from Equifax today that I have a new collection account on my report! I look into it, its LVNV funding again, and this time they reaged the account,and they are reporting it 120 days late, before it was showing being opened in 2011, now its 2009 and they even changed the account number, this took my score from 708 down to a 686! I am glad they have did this and I will tell you why, what they have done is a HUGE violation of FCRA rules, once an account has been disputed and removed, its not allowed back on a consumers file, with that said, they reaged the account and changed the account number to place it back on my bureau, I have a copy of my credit report showing where they deleted both accounts, for the same amounts, now I can print this report off and mail it with my old copy showing the deletions to the FCRA, this gives them the power to investigate this situation with LVNV funding, if they are infact found in violation of reaging those accounts, they will be subjected to fines, also, I can sue them for up to a max of $1,000 in personal damages! I have tried to play nice with these people, now its time to heat things up a bit!

[derek1061]

Finally someone has enough guts to stand up to these people. I hope you take them for all their worth.

[patrick12]

I have also filed a complaint with the BBB of South Carolina, I sent in a laundry list of things I have done well with in my rights to stop these people and they wont cooperate! What I find interesting is that Resurgent Capital who owns LVNV has an A+ rating with the BBB, maybe this will finally wake these people up! I have credit monitoring for reasons just like this! They prey on consumers, hoping they are ignorant or just dont care so they can pull this kind of under handed stuff! Well before its all said and done they will know more about me than just my name and address, this time its personal!

[kdb030609]

I have also filed a complaint with the BBB of South Carolina, I sent in a laundry list of things I have done well with in my rights to stop these people and they wont cooperate! What I find interesting is that Resurgent Capital who owns LVNV has an A+ rating with the BBB, maybe this will finally wake these people up! I have credit monitoring for reasons just like this! They prey on consumers, hoping they are ignorant or just dont care so they can pull this kind of under handed stuff! Well before its all said and done they will know more about me than just my name and address, this time its personal!

It sucks you have to go through this with these scumbags. I hope you contact the Federal Trade Commission also. The sad thing is as soon as they get in a little trouble. The parent company will just close LVNV and open a different company. So they can keep a clean image. It's to bad you can't direct your complaint against Resurgent Capital and drag they're A+ rating down! As they've allowed LVNV to do to you. Whatever you do I hope those scumbags get the justice they deserve!

[patrick12]

The reason why anyone should fight back is very simple, its unfair and unethical, not to mention the fact, most not all, but most creditors will soft pull your credit reports periodically for any kind of change to your credit reports, obviously if your report is great you will reap the benefits of an APR reduction or perhaps an increase in your credit line, however, it can go the opposite just as easily, now that my score has fallen substantially, I could face increases in higher APRs and reductions in credit limits, which in return will lower my utilization and drag my scores down even further, or worse, close my accounts all together! Credit monitoring is a wonderful tool, its keeps you in the know, and keeps things like this from going on without you knowing right away! I admit, I have made my fair share of past financial mistakes, and I have paid dearly for everyone of them, but I wont let anyone take my hard work away from me! Always be aware and always stay a step ahead if you can! Bullies only go after weak people, strong people go after the bully!

[patrick12]

Better Business Bureau of Upstate South Carolina
408 North Church Street, Suite C
Greenville, SC 29601-2164
Phone: (864)242-5052 | Fax: (864)271-9802
info@upstatesc.bbb.org

05/08/2012
Dear Patrick 12:
This message is in regard to your complaint submitted on 4/25/2012 2:39:40 PM against Resurgent Capital Services LP. Your complaint was assigned ID 9007328.
The business has sent the BBB a message regarding this complaint, and we are passing it on to you. The contents of this message are below or attached. Please respond to this message within 10 days.
Regards,
Linda J. Bentley
Dispute Resolution Director
linda@upstatesc.bbb.org

---

MESSAGE FROM BUSINESS:

May 3, 2012
Linda J. Bentley
408 N. Church St. Suite C
Greenville, SC 29601-2164
RE: Patrick 12; Case/File No. 9007328 Reference Numbers: 469349816 & 471755328

Dear Ms. Bentley:

This letter is in response to your correspondence dated April 26, 2012 regarding the referenced consumer. LVNV Funding LLC (“LVNV”) owns two accounts for Patrick 12. Resurgent Capital Services L.P. (“Resurgent”) is the master servicer of accounts owned by LVNV. Please review the following account information:

Account No.5178007392010112 Reference No. 469349816 Previous Creditor:Arrow

1. Arrow Financial Services, LLC (“Arrow”) advised that this account originated on October 16, 2005 and was opened with First Premier.
2. This account charged off on August 30, 2006.
3. This account was purchased from Arrow on September 23, 2011 with a balance of $547.79
4. A payment totaling $250.00 was received on February 1, 2012.
5. The current balance of this account is $0.00.
6. This account was closed as settled in full on February 1, 2012.

Account No.4317320072026612 Reference No. 471755328 Previous Creditor:
advised that this account originated on December 27, 2004 and was opened with Plains Commerce Bank.

1. This account charged off on September 30, 2005.
2. This account was purchased from Arrow on September 23, 2011 with a balance of $268.19.
3. A payment totaling $82.34 was received on February 1, 2012.
4. The current balance of this account is $0.00.
5. This account was closed as settled in full on February 1, 2012.

Please be advised a request to delete the LVNV tradelines was previously submitted for these accounts. Please allow 30-45 days for the updates to occur. We apologize for any inconvenience this matter may have caused Mr. Sparkman.
If we do not receive additional information from you within 45 days of the date this letter is received, then we will assume this dispute is resolved. If you have any further questions, comments or concerns, please contact Customer Service at 888-665-0374.P. Holladay
Compliance Department
Resurgent Capital Services L.P.

[patrick12]

Sorry about the way it was copied and pasted! UGH! Any who, they have agreed to delete all the trade lines from my credit reports and stop bothering me! Looks like the Better Business Bureau is the only way to stop these pests!

[classy75]

Sorry about the way it was copied and pasted! UGH! Any who, they have agreed to delete all the trade lines from my credit reports and stop bothering me! Looks like the Better Business Bureau is the only way to stop these pests!

Happy for you! Great information. How did you get them to agree with a pay for delete? Tried that on my husband's medical collections, I paid in full and they refused to delete them. I had to pay without validating because of a pending car deal with the credit union. You seem pretty savvy with these types of scenarios. What would you recommend I do to get these last collections gone. Best place on the web for advice! Thank you in advance.

[patrick12]

Gather up all the account numbers and the dates you paid, submit your dispute with the Better Business Bureau of South Carolina, be VERY detailed about everything, and make it clear what kind of destructive effect its having on your credit reports! Thats what I did, and it worked!

[WeHateUglyCredit.com]

Just to caution some people on here. Collection accounts have an impact the first 3 - 4 years, after that, they actually begin reporting as POSITIVE credit, as the scoring logirythm begins to pick up that account as an open tradeline. Having the item removed from your credit at 5 or 6 years could actually make a negative impact on your credit. There are also some variables here as to when the clock begins aging. Any last activity on your file constitues as the last activity date upon which begins the clock. Therefore, never, ever pay a collection agency, they are a middleman that can not help you, but only hurt you. Send every collection agency a Cease and Desist letter, certified mail, return receipt, then follow up by disputing it with the credit bureaus. Also, any payments made to a collection agency automatically resets the clock for 7 years from the day they post your payment. This is reason enough for you to not deal with the agency and deal directly with the creditor/lender.
The Cease and Desist letter is your ultimate weapon from keeping the item from ever being reported to your credit, provided that you send that to them within the initial 30 days of their first mailed correspondence to you. If this law is violated (FDCPA) 15 USC §1692c(c), they can be held for damages of $1000 per violation. If you've applied for credit and you've been denied, then you can also file for damages under FCRA and also for punitive damages. When sending this, you need to track and date everything (dates, mailings, phone calls, names, etc..) should you want to pursue the matter in court.

[classy75]

Just to caution some people on here. Collection accounts have an impact the first 3 - 4 years, after that, they actually begin reporting as POSITIVE credit, as the scoring logirythm begins to pick up that account as an open tradeline. Having the item removed from your credit at 5 or 6 years could actually make a negative impact on your credit. There are also some variables here as to when the clock begins aging. Any last activity on your file constitues as the last activity date upon which begins the clock. Therefore, never, ever pay a collection agency, they are a middleman that can not help you, but only hurt you. Send every collection agency a Cease and Desist letter, certified mail, return receipt, then follow up by disputing it with the credit bureaus. Also, any payments made to a collection agency automatically resets the clock for 7 years from the day they post your payment. This is reason enough for you to not deal with the agency and deal directly with the creditor/lender.
The Cease and Desist letter is your ultimate weapon from keeping the item from ever being reported to your credit, provided that you send that to them within the initial 30 days of their first mailed correspondence to you. If this law is violated (FDCPA) 15 USC §1692c(c), they can be held for damages of $1000 per violation. If you've applied for credit and you've been denied, then you can also file for damages under FCRA and also for punitive damages. When sending this, you need to track and date everything (dates, mailings, phone calls, names, etc..) should you want to pursue the matter in court.

Garry,

I made the mistake of paying these collections without getting them validated. We were in a pinch and in the middle of financing a much needed vehicle deal, as our family outgrew our minivan when I had my daughter a few months back. When the credit union pull the report we foulnd out about a collection that had just been reported a few months ago. However, it dated back to 2009. The loan officer at the credit union wanted us to pay it off and assured us we would be able to get it deleted. They approved my husband's application based on his history with the credit union which was stellar. In fact, the previous loan had been paid off early. However, they stuck us with a higher interest rates because of the collections affect on his credit score. They said to get the score up and come back and they would refinance us. However, the collection agency will not budge on deleting this information from my husband's credit report. I have disputed 2 times with equifax online, the last time I mailed them a copy of the letter that the collection agency signed agreeing to update the information. The word "update" is ambigious, so I am not sure they will delete it. I wish I would have chatted with you before I made that very bad decision. I still do not know what the charges were for. I seem to be in a catch 22 situation. Pay them and get stuck with it on your report, or dispute it and possibly get it removed. I try to be an ethical person. I think I may have restarted the clock. Also, can I get a copy of the Cease and Desist letter that you referred to in your post. I joined the forum for help and I am open to good sound, tried and proven advice. Thanks!

[classy75]

Just to caution some people on here. Collection accounts have an impact the first 3 - 4 years, after that, they actually begin reporting as POSITIVE credit, as the scoring logirythm begins to pick up that account as an open tradeline. Having the item removed from your credit at 5 or 6 years could actually make a negative impact on your credit. There are also some variables here as to when the clock begins aging. Any last activity on your file constitues as the last activity date upon which begins the clock. Therefore, never, ever pay a collection agency, they are a middleman that can not help you, but only hurt you. Send every collection agency a Cease and Desist letter, certified mail, return receipt, then follow up by disputing it with the credit bureaus. Also, any payments made to a collection agency automatically resets the clock for 7 years from the day they post your payment. This is reason enough for you to not deal with the agency and deal directly with the creditor/lender.
The Cease and Desist letter is your ultimate weapon from keeping the item from ever being reported to your credit, provided that you send that to them within the initial 30 days of their first mailed correspondence to you. If this law is violated (FDCPA) 15 USC §1692c(c), they can be held for damages of $1000 per violation. If you've applied for credit and you've been denied, then you can also file for damages under FCRA and also for punitive damages. When sending this, you need to track and date everything (dates, mailings, phone calls, names, etc..) should you want to pursue the matter in court.

You nailed this one Garry, Just checked my husband's score on Credit Karma and low and behold another negative account was removed so that leaves two on Trasunion. The problem is his score fell by 10 points.