Question About LVNV Funding?

Question

I got a free credit report, and found these guys on there. Never got anything from them (extension of credit, etc) yet claim I owe money...how can i remove? Thank you!

Answer 1

They are a collection agency. One of the worst.

You may have had an account that was charged off and sold.
If you have not had an account go bad and sold, then it isn't yours. Which is almost as hard to remove as an account that is yours.

If you discover that it is your account, you need to find out what the statute of limitations (SOL) are in your state. If you are out of SOL on the account you can really persue this hard. If you are still well within SOL, tread lightly.

Although they have already violated your rights by placing that account on your reports without first notifying you of the debt, (which they are known to do) they can try to sue. That's why "anything" you do about this, keep a very detailed papertrail. If they should sue, you will have plenty of counterclaims against them.

Send LVNV a debt validation letter. Send it certified mail return receipt. When you get the green card back (and you "know" it is not your account) send the credit bureaus a letter that it is not your account and it has been placed on your reports in error and to please delete this damaging account.

If you find it actually is your account, send the credit bureaus a dispute. Pick a couple errors out that is on that tradeline (theres probably quite a few) and base your dispute on those.

For example: they are listing the tradeline as open with a past due balance (violations)

Tell the credit bureaus in your letter that LVNV is violating your rights by listing an inaccurate account. They are claiming that it is an open account with a past due balance. Please correct this or delete this account.

More than likely LVNV will verify before validating with you (another violation) and you will have to go through all of it again.

If you are out of SOL, after going through this process several times, you should file complaints with the FTC, BBB and your states attorney general.

If you discover that it is your account and if you want to pay it, be sure to send a debt validation letter (CMRRR) After they have "properly" validated the debt, send a pay for delete letter.

Include in that letter that they will delete the account after receiving payment, that they will not continue to collect the debt, that they will not sell the debt or the remainder of the debt - if they agree to being paid only a percentage of the debt (which you should also request)

I would recommend clicking the first link and reading on how bad this company really is.

I would also recommend checking out the second site that I have linked and do some reading.

Learn and use your rights.


edited to add: When disputing with the credit bureaus, do not use the free FACT-Act reports. Using those gives the credit bureaus an extra 15 days to complete their investigation. Which could make the difference in the account remaining instead of being deleted. Order your paid reports from each of the bureaus.

Do not order a tri-merge report either, those are often inaccurate.