LVNV Funding

**patrick12** · May 16th, 2012, 05:11 PM

I have also experienced the same type of situation with TransUnion a few years back when I got my BK deleted, it dropped my TU score 50 points! But you know what? It was worth it in the end, it sounds like your credit union does risk based pricing when they gave you that rate, risk based pricing has to do with what tier you fall into, look below for an example!

750-893 2.99%
700-749 3.99%
650-699 4.99%
620-649 5.99%
580-619 6.99%

Risk based pricing is part of fair lending, now some credit unions and banks dont participate in this type of program, when I was rebuilding my credit and was shopping for the BEST rate, I would often call up multiple lenders, and ask them, what bureau do you use, and, do you participate in Risk Based Pricing, and are your rates score driven, most were, some were not, I found smaller banks and credit unions basically looked more a payments after something derogatory, instead of basing their decision off of credit score alone! And they would give the BEST rate off of the year of the vehicle and equity of the collateral.

**Wanderer** · May 16th, 2012, 05:17 PM

Originally Posted by patrick12

I have also experienced the same type of situation with TransUnion a few years back when I got my BK deleted, it dropped my TU score 50 points! But you know what? It was worth it in the end, it sounds like your credit union does risk based pricing when they gave you that rate, risk based pricing has to do with what tier you fall into, look below for an example!

750-893 2.99%
700-749 3.99%
650-699 4.99%
620-649 5.99%
580-619 6.99%

Risk based pricing is part of fair lending, now some credit unions and banks dont participate in this type of program, when I was rebuilding my credit and was shopping for the BEST rate, I would often call up multiple lenders, and ask them, what bureau do you use, and, do you participate in Risk Based Pricing, and are your rates score driven, most were, some were not, I found smaller banks and credit unions basically looked more a payments after something derogatory, instead of basing their decision off of credit score alone! And they would give the BEST rate off of the year of the vehicle and equity of the collateral.

Yeah... you were removed from the BK FICO Group and reassigned to the non BK group. Then your score was coming in at a lower level in the group. Time brought it up! For me, my BK dropped last July after 10 years and my score increased from 60 to 100 points depending on the bureau. Fortunately, I had developed a deep 10 year credit report and it carried me through the transition from the BK Group to the regular non BK group. If my memory serves me, there are somewhere between 10 to 13 levels. Also, we are not given accss to what FICO level we are on nor make requests for level changes.

**classy75** · May 16th, 2012, 06:09 PM

Originally Posted by patrick12

I have also experienced the same type of situation with TransUnion a few years back when I got my BK deleted, it dropped my TU score 50 points! But you know what? It was worth it in the end, it sounds like your credit union does risk based pricing when they gave you that rate, risk based pricing has to do with what tier you fall into, look below for an example!

750-893 2.99%
700-749 3.99%
650-699 4.99%
620-649 5.99%
580-619 6.99%

Risk based pricing is part of fair lending, now some credit unions and banks dont participate in this type of program, when I was rebuilding my credit and was shopping for the BEST rate, I would often call up multiple lenders, and ask them, what bureau do you use, and, do you participate in Risk Based Pricing, and are your rates score driven, most were, some were not, I found smaller banks and credit unions basically looked more a payments after something derogatory, instead of basing their decision off of credit score alone! And they would give the BEST rate off of the year of the vehicle and equity of the collateral.

Intersting...Guess we live and learn. Yes, I think our Credit Union participates in the risk based pricing. I saw the loan officer constantly referring to a chart. He was really surprised to see the score come in so low based on everything else on the report barring the medical collections. I have learned from using this board that 1 negative item can really affect a credit score.

**AshCas** · May 21st, 2012, 06:34 AM

Originally Posted by 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!

Patrick - would you mind PMing me the complaint you filed with the BBB? I desperately need to get them off my report!! I've paid and they're still reporting as an Open Account....ugh...