5 replies to this topic

[tsaul]

I don't want to get into the whole story, but my PLUS loan application for my daughter's Sophomore year in college was denied because of my Equifax credit report. The specific reason being that a collection account from LVNV is listed, reaged from Arrow Financial Services who was previously listing this on my credit report. I filed an appeal, explaining how I had to get the Better Business Bureau involved to get it removed last year and Arrow junk debt sold it to LVNV. I forwarded copies of the letters from the BBB, but since this is holding up my daughter's aid package, now I have to pay this off in order to get her loan. I am pissed beyond belief. This account is due to fall off in November, now I am going to add seven years to this. What can I do?

[breeze]

It won't add 7 years to it. But it's still a bitch.

Are you opted out?

[beli]

I don't want to get into the whole story, but my PLUS loan application for my daughter's Sophomore year in college was denied because of my Equifax credit report. The specific reason being that a collection account from LVNV is listed, reaged from Arrow Financial Services who was previously listing this on my credit report. I filed an appeal, explaining how I had to get the Better Business Bureau involved to get it removed last year and Arrow junk debt sold it to LVNV. I forwarded copies of the letters from the BBB, but since this is holding up my daughter's aid package, now I have to pay this off in order to get her loan. I am pissed beyond belief. This account is due to fall off in November, now I am going to add seven years to this. What can I do?

Can't you or your daughter take out regular federal grants that don't involve Plus loans? If not she can always sit out a semester. A semester won't hurt.. she can work and put money aside for college.

Or you could do what I did (not financial aid related) Paid off a debt because they were collecting on the right amount(for me) even tho they never did validate the debt, and it was reporting incorrectly still on one Cra and it was close to getting judgment.. well I got the summons for it anyway. Anyway, paid them so it wouldn't become a judgment as I said because they were collecting on the correct amount. Kept all paperwork involved promptly turned around and sued them right back for Frca violations as well as FDCPA.. this was not LVNV btw, a local but collection agency. So they ended up owing me about 4 or 5 times more than what the debt actually was thanks to my lawyer.

Edited by beli, 28 June 2012 - 05:34 PM.

[JunkBuyersWorstNightmare]

Have you DVed LVNV, CMRRR?

[ICANHASMUNY?]

I don't want to get into the whole story, but my PLUS loan application for my daughter's Sophomore year in college was denied because of my Equifax credit report. The specific reason being that a collection account from LVNV is listed, reaged from Arrow Financial Services who was previously listing this on my credit report. I filed an appeal, explaining how I had to get the Better Business Bureau involved to get it removed last year and Arrow junk debt sold it to LVNV. I forwarded copies of the letters from the BBB, but since this is holding up my daughter's aid package, now I have to pay this off in order to get her loan. I am pissed beyond belief. This account is due to fall off in November, now I am going to add seven years to this. What can I do?

send an ITS letter to LVNV funding. if the account has been reaged, then it's a violation of the FCRA and the FDCPA/

[AshCas]

When you say that the account has been "re-aged" - you're saying that they've changed the Date of First Delinquency. If you're referring to the "Open Date" listed on the account - that's just the date that the CA obtained the debt. Check the DOFD, if they have in fact changed it, you can get them for a major violation.