Search the Community

I have been trying to clear up DH report. I received a letter from LVNV attempting to collect. These are our facts: Date opened: 3/6/2008 DOFD: 5/2008 C/O: 11/2008 Account was opened, used, closed and past SOL in FL (SOL is 4 years) We moved to IN after it went past the SOL in FL but it is also past the SOL in IN (6 years) The OC account is scheduled to fall off 03/2015 LVNV funding started reporting on 11/17/2008 (TU) and 11/01/2008 (EX, EQ) Should I just ignore their letter and let them fall off in a year, or could I send them a letter back for trying to collect on an account that is past the SOL. Should I dispute with CRA first with this http://whychat.5u.com/initdispltrsol.html and the with CA with this? Thank you in advance

Just received this today (my SO, not mine). Input appreciated before we move forward. Will try to answer any and all questions regarding his credit background as much as possible... Creditor: LVNV Funding LLC Original Creditor: Washington Mutual Bank, NA/Washington Mutual Bank Original Account #: XXXXXXXXXXXXXX Ref#: XXXXXXXXX Total Due: $X,XXX.XX This is to advice you that your account has been assigned to our office for collection by the above mentioned client. Unless you notify this office within 30 days after receiving this notice that you dispute the validity of this debt or any portion thereof, this office will assume this debt is valid. If you notify this office in writing within 30 days after receiving this notice that you dispute the validity of this debt or any portion of it, this office will will obtain verification of the debt or a copy of a judgement and mail you a copy of such judgement or verification. If you request of this office in writing within 30 days after receiving this notice this office will provide you with the name and address of the original creditor, if different from the current creditor. In order to aid your financial situation, as may be necessary, we could set up your account on a monthly payment plan We would like to extend the following settlement offer: A 70% discount payable in 6 payments of $XXX.XX, Each payment within 30 days of the previous payment. We are not obligated to renew this offer. For your convenience you may pay via a check over the phone or credit card. You have our word that your account executive will treat you fairly and with respect. Sincerely, First National Collection Bureau, Inc. Thanks so much in advance!

My husband has recently received a letter from Financial Recovery Services Inc. Which states that a debt from Chase Bank back in 2009 has not been paid. The current creditor is LVNV Funding which now shows on his credit report. He does not remember this debt or has never been notified since 2009 in any way that he has had this debt. I have done some research and found that we have the right to ask for debt validation, however, should I do anything? I ask this as the first bold paragraph on the letter states the following: "WE ARE REQUIRED BY LAW TO GIVE YOU THE FOLLOWING INFORMATION ABOUT THIS DEBT. The legal time limit (statute of limitations) for suing you to collect this debt has expired. However, if somebody sues you anyway to try to make you pay this debt, court rules REQUIRE YOU to tell the court that the statute of limitations has expired to prevent the creditor from obtaining a judgment. EVEN though the statute of limitations has expired, you may CHOOSE to make payments. However, BE AWARE: if you make a payment, the creditor's right to sue you to make you pay the entire debt may START AGAIN." It states at the bottom to respond within 30 days to either approve or deny the debt. And after that from what I understand then they can chase after my husband to pay this entire debt. My question is, if I'm understanding this correctly, if we do not respond, does this mean they cannot sue us or chase us down for this unexplained debt? If so, would it just disappear from his credit report in 7 years? Or do we start this process to defend that we do not owe this debt? Which could unveil a debt that he may have forgotten about? Any advice on how to proceed will be greatly appreciated. Thank you, Chrissy

http://www.businessw...ot-y-dot-accord Quote this all Ties back to PRA v King , a state appeals court ruling citing the NY Borrowing Statute. Even though NY has a 6 year SOL, they apply the lenders home state Statute of Limitations to the account, because that is where the economic injury occured, http://www.ag.ny.gov...s-unlawful-debt Quote Sherman Financial group is AKA; LVNV Funding, PYOD, Resurgent Capital Services. $16 Million in Judgments, $475K fine.

Hi Everyone, I am in the midst of my credit repair journey (lots of derogs resulting from a job loss in 2007). All of my remaining negatives fall off my credit reports between March-September of this year, but I'd love to see if I can get them removed sooner. I'll post my other negatives in other threads, but I'd like to keep this thread dedicated to LVNV Funding & Capital One. I have a collection account with LVNV stemming from an old Capital One charge-off credit card. The card was charged off in 2008 (according to the CRA, I have no documentation from the OC about this) and apparently sold to LVNV. I don't remember receiving anything from the CA, but they've continued to report to my credit report every month. The accounts are past SOL in my state (6 years), and will fall off in May (I know, why bother, right? because I'd love to buy a house this year, so the sooner I can get these guys off, the better). I did an initial dispute letter through the CRAs, which LVNV and Cap One verified. LVNV then increased my balance owing by $500 (interest, I assume) and knocked me with another KD marking on my report. Of course, I received nothing in writing from them. Since the two tradelines are linked to the same account, I'd love to discuss good methods for disputing both. Here's how LVNV is reporting to the CRAs: LVNV FUNDING LLCPO Box 10497 Ste 110, Ms 576 Greenville, SC-296030497 (866) 464-1183 Account Number: XXXXXXXXXXXXXX Status: COLLECTION ACCOUNT Account Owner: Individual Account. High Credit: $1,675 Type of Account : Open Credit Limit: $0 Term Duration: Terms Frequency: Date Opened: 03/17/2008 Balance: $3,571 Date Reported: 02/11/2014 Amount Past Due: $3,571 Date of Last Payment: Actual Payment Amount: Scheduled Payment Amount: Date of Last Activity: N/A Date Major Delinquency First Reported: 05/2008 Months Reviewed: 37 Creditor Classification: Financial Activity Designator: N/A Charge Off Amount: Deferred Payment Start Date: Balloon Payment Amount: Balloon Payment Date: Date Closed: Type of Loan: Factoring Company Account (debt buyer) Date of First Delinquency: 08/2007 Comments: Consumer disputes this account information, Collection account And here's the CRA tradeline for the original charged-off Capital One Account CAPITAL ONEPO Box 30281 Salt Lake City, UT-841300281 Account Number: XXXXXXXXXXXX Status: CHARGE-OFF Account Owner: Individual Account. High Credit: Type of Account : Revolving Credit Limit: $1,000 Term Duration: Terms Frequency: Monthly (due every month) Date Opened: 10/29/2004 Balance: $0 Date Reported: 01/13/2014 Amount Past Due: Date of Last Payment: 07/2007 Actual Payment Amount: Scheduled Payment Amount: Date of Last Activity: N/A Date Major Delinquency First Reported: 03/2008 Months Reviewed: 41 Creditor Classification: Activity Designator: Transfer/Sold Charge Off Amount: Deferred Payment Start Date: Balloon Payment Amount: Balloon Payment Date: Date Closed: Type of Loan: Credit Card Date of First Delinquency: 08/2007 Comments: Paid charge off Does anyone have a good, tested method for disputing these guys? I've heard many have had success with filing a BBB complaint for LVNV (due to them reporting as a factoring company). I'm also considering Whychat's SOL method. I'm just not sure which route is the best to take. Any guidance would be greatly appreciated. Thanks!

I did it! I finally did it!!! LVNV Funding is gone from all of my credit reports! I never have to hear from Credit One Bank nor LVNV Funding again. Taken from a previous post of mine: I received a letter from Credit One Bank saying they have requested all three bureaus to delete the entire trade line. They said I may also use the letter as follow-up with the CRAs if necessary. Now that Credit One Bank is gone from my files, would it be easier to get LVNV off? LVNV is scheduled to live on until the fall of 2014" I used this letter and filed a complaint with the CFPB against LVNV and within a few days, they deleted.

Has anyone had success with getting LVNV and credit one bank off the credit reports using Why Chat's special SOL letter? They are set to drop off my reports in Sept 2014 and since I'm in California, I'm clear of lawsuit worry so I want to try everything possible to get them off earlier.