[erinzip]

Glad I came upon this site!
I have a Home Depot debt on my DR which went into collection back in 2001. To make a long story short, there has been no activity on my part or my ex-spouse's part since 2001. Yet this account, which is now owned by LVNV, shows an estimated date of removal in 2012 (TransUnion credit report). I have not contacted this company to assume the debt nor have I signed any note. I have three questions.

1.Why might the collection company have done this?
2.When does the 7 year clock start running on delinquent accounts- Is it the last time a payment was made on the sccount or the very first time a payment is late?
3. Should I contact the credit reporting agency or the creditor first?

Any info you can give me will be appreciated.

Thanks.

[david]

Erinzip,

TransUnion credit reports mostly show lots of errors in the consumer files. You need to dispute with them and get the exact date of removal. It might be possible that LVNV does not have your account and have hit the credit file without any legitimate reason. To be confirmed, ask from the collection agency for a complete debt validation. If they are not working on your account, they don't have the legal rights to appear in your credit file.

When an account turns delinquent, you will need to check the SOL period as per the statutes of each state. This will make you sure whether the account is still in legal collection period or not. The date of last activity is counted in this matter. After the expiry of the statutes, you just have to dispute on it and need not to make any payment agreement.

The FCRA laws mark the 7 years reporting time beginning from the date of first delinquency. Though the debt might be out of the SOL period, but it will remain in the file till its reporting time has not expired.

You have to contact the bureau first and get the actual standing of your credit. You can also keep a follow up with the collection agency as well.

I would like to know more about this account that Global Vantedge is trying to contact me about they will not give me much info on its origin except that it is a credit card(master card) and they are talking to my wife about the account to my understanding I should be the only one whom they talk to about my account.

[roxette]

Hi Michael

Welcome to the forums.

There is nothing wrong if the collector discusses the account with your wife. This does not result violation because the fdcpa specifically allows this. The collectors have the legal rights to do this discussion.

The FDCPA law also stresses the need of debt validation before making the collection attempts. They are required to give the itemized details of the credit account. If they have not sent you anything, write a letter requesting the info. You should not pay anything or sign a promissory note before you have verified the details.

Regards
Roxette

Hello, I have spoken with someone last week and they were suppose to email me a settlement letter for $3xx.00 and no one has done so yet. I would like to clear up this matter. Please email me


Email deleted as per forum rules-Mike

I have an account that is closed with LVNV FUNDING but I cant seem to get the right address or phone number to get in contact witht ehm to set up a payment .How can I find them?

[stanley]

Moore,

Better Business Bureau maintains a database of US businesses. You can run a search for LVNV Funding there. Hope you will get an authentic address this time.

Also let us know if you need any more information.

moore,

DO NOT settle for any amount with LVNV. They are a junk debt buyer. This will not help your credit one bit, Indeed, they'll most likely report that you have confirmed the debt, and it will start the clock running again on the statute of limitations. You morally nor legally owe them anything. Any payments will do nothing but enrich them.

Recently recieved notice that I am being sued by LVNV, from an old sears bill that I was unable to pay in the past due to losing my job, completing my education and trying to raise my child on supplemental security income and child support. I don't want to go to court, but these people are not only trying to collect sears debt but charge all kinds of fees and interest. I'm not sure what to do. I spoke with a lawyer that said I should just offer to pay them $25. a month and go from there, that they would have to accept it even though they want more...I would pay them but I don't have the full amount and It has been more than 3 years--I think--btw I live in TX. It seems that these people are out to screw everyone. Can you give me some info about how to resolve this? As I said, I don't want to go to court.

Thanks
Suze

[david]

Suze, first you need to know if LVNV Funding is having your account details in a legal way. Ask them for a debt validation so that you are sure that the original creditor has hired them for this collection. If you have problems in dealing with the CA, you can explain your problems to the OC and make arrangements with them. If the account is sold to LVNV, you might have to make payments to them only.

After you have verified the details properly, offer them a realistic amount that you can pay. Be sure that you won't default on these payments. Some companies are unwilling to accept lower payments but if you can prove that you have always tried to send the money and make the required payments, you will be always in the safer side.

I would like to know why your name is on my credit report

[stanley]

Leisa,

You have to contact with LVNV Funding and forward your request. This is debt consolidation Care and has no connection with them.

LVNV is a collection agency. Perhaps any of your accounts have been transferred to them. You can collect their contact details from BBB website and clarify the issue. Keep us posted.

IF you own a house(but still paying it), in MD and I have some unpaid credit cards, can they take my house? And do the cards have to be secured loan to do this? Thank you..

[stanley]

can they take my house?

Who are you talking about, the credit card issuer or the lender of your home loan? Also what is the status of the credit cards and the home loan?

I despertatly need some help regarding this company. I have been reading some things regarding this debt collector. I have 2 accounts w/ them as the holder they are collection accounts but they are reported as major accounts, also they are really old from 1999 and they say they are open. Can anyone tell me why they would report them open. And if this is a very good dispute I can take up w/ TransUnion.
Can anyone help me w/ some info.

Thanks A Lot
Denise

[curlycarl]

Denise,

Are they listed with TU only? What is the status and what is the date of reporting?

Did you pay it in past? If yes, when? I am asking this because you have to check the SOL of your state. Once the SOL is over, a debt is legally not collectible any more.