| Message |
Author |
 Posted: Wed Jul 18, 2007 1:53 pm Subject: what to do |
|
|
I just pulled my credit report...I had a credit card, but due to some unexpected happenings I have fallen behind on payments. On my report is my credit card company, states my balance, over 5,000. and past due amount,800.00 and says account is charge off as bad debt, the there is LVNV funding with same account # as credit card, says open account, past due amount is 6,000.00, says collateral is credit card co., and loan type is factoring company account. I don't understand any of this, who do I owe? I guess LVNV funding is the ones who have been calling and either there is no one there, or there is a jumbled recording, a couple time leaving message that I owe a debt and they are attempting to collect this debt, and left messages that no one is to listen to the message if they are not me, then proceded to tell all who could hear about my debt. I tried to call back once only to get a recording. Where do I start? I don't think I owe that much as I was making more than mim. payment there for awhile, now I can't afford to walk across the street!  Just hit a bump in the road and until I can get on my feet again.
Thanks
_________________
Register today to cash in debtcc points.
|
|
Guest
Debtcc Points: 100
|
|
|
| Posted: Wed Jul 18, 2007 3:27 pm Subject: |
|
|
LVNV Funding is a collection agency. If they have purchased your file from the credit card company, they are allowed to report on your credit copy and the credit company should mark a zero balance. All your arrangements are to be done with LVNV Funding.
But, if the credit card company has not sold your file, you may work out arrangements with one of them. If you are able to work out something with the creditor, ask them to pull your file back from LVNV. In that case, you will stop a collection item from hitting your file.
|
|
Bridget
Joined: 03 Mar 2006
Posts: 351
Debtcc Points: 4963
|
|
|
| Posted: Wed Jul 18, 2007 5:25 pm Subject: |
|
|
Guest, before paying LVNV anything, check the date of last activity on the account, and see whether the statute of limitations has run. If it has, don't pay them anything. If it hasn't, send LVNV a letter demanding full validation of the alleged debt, how they calculated the debt, etc. Also in the letter demand proof of any contractual obligation you have with LVNV. Send return reciept.
_________________
He who has freed himself of the disease of "tomorrow" has a chance to attain what he came here for. --G. I. Gurdjieff (1872-1949)
The science is in knowing, the art is in perceiving - Robert Fripp (1946-)
Ever get the feeling you've been cheated? - Johnny Rotten (John Lydon) (1956-)
|
|
LawStudent
Moderator
Joined: 04 Apr 2007
Posts: 1191
Debtcc Points: 16430
|
|
|
| Posted: Wed Jul 18, 2007 8:27 pm Subject: |
|
|
There is no 'date of last activity' on either of them. On credit card it has date updated 6/07, date opened 6/98 date item will be removed from CB 7/2013, on LVNV funding it has date updated 6/07, date opened 3/07, and date removed 7/2013. It's been around 1 1/2 yrs, maybe 2 since I made a payment. When I first missed I called CC company and explained and they said it was a 'hardship' and to let them know when I will be able to pay again. SOL in my state is 5 yrs. so I don't know where they figure 2013 in this.
_________________
Register today to cash in debtcc points.
|
|
Guest
Debtcc Points: 100
|
|
|
|
|
|
All times are GMT - 7 Hours
|
| Page 1 of 1 |
|
