LVNV bought account from GAP - Recd a Validation letter.. what to do?

Hi Vijay,

1) Except for waiting for 7 years, probably not.
2) Of course, if you pay it then they will have to report it as Paid.
3) If Settled, it will say "Paid for less than full amount" or something to that effect. But even if paid off completely, it will still show as late and charged off (by the original creditor) as long as it is on your credit report, only the final status will show as Paid or Settled, and that for the debt as owned, recorded, and paid by the collection agency.

chrys

So If its "Settled " or "Paid" how will it impact my credit line or score.
I recently was denied a credit card, and I thought I was in very good standing. The reason they gave was past dilinquency. That made me to look my credit report to find LVNV, and thats the story so far.


Thanks,

Vijay

Even if you settle the debt and pay it off to the creditor, your credit score will not improve, because the FCRA allows negative information to stay on your credit report for seven years and six months from the date of your last payment towards the debt. You cannot remove this information from your report before this period.

Actually 7 years + 180 days from Date of First Default

If you do decide to make a settlment with LVNV< or any other type of agreement, get it in writing. LVNV is well know for saying one thing and doing the next!.karen

What about negotiating a PFD? (Paid for deletion).

I received almost the same thing in the mail today on an old navy account I didn't pay on for a few months. Got a letter from Resurgent saying that my account has been placed with them by LVNV. At the bottom it says I have thirty days to dispute this and they enclosed what they call a debt validation that states:
Validation of debt
March 3, 2009
My name
Account # ******* for me acquired from GE Capital is now owned by LVNV Funding LLC.
At the time the account was acquired from GE Capital, GE Capital advised that the balance owing was $592.18. Since that time, additional fees, payments, credits, and offsets, if applicable, have been allowed, for a current balance of $623.65. The debt validation doesn't even have a letterhead, just a paper with that info printed on it. Should I request more information?

yes you should.they should have given you something with the original creditors info.even a letterhead.what they sent you i could type up. it validates nothing.

I got the same thing after I sent a DV letter. No original contract, no accounting for balance- should I resend DV

yep.this place is famous for that.they validated nothing.let them know that.

I was just going through some papers I had sitting by the comp and found a dv I sent back in feb to Aegis...they were collecting for LVNV on this account. Guess when I dv'ed them they just passed it to the next one.

Since me and onthewayup, haimpactt are having the same problem with lvnv, do we have to send another DV to them and ask them to revalidate the account? Pls let us know.

yes,as onthewayup found out LVNV has other companies they go by as d/b/a's.you must keep sending the letter whenever you get bogus validation or another d/b/a decides to try.i know RESSURGENT is one of them.

I will send second letter for validation. I can see on my credit report all the charges from GE Capital and then charged off. But what Ressurgent capital sent me is just an amount that I owe. So what do I have to ask them to send me this time? Please let me know.
Also if they dont reply then what happens?

P.S. in all my dealing with lvnv, I am doing it through certified mail.

lvnv validation discussion

I had originally sent this letter
http://www.debtconsolidationcare.com/letters/sample6.html

and I got the reply which I posted at the top.

Can anyone provide me with second sample draft letter to ask for sufficient proof from them?

Thanks

I received a letter in the mail today from Resurgent saying they have received my recent inquiry and are in the process of investigating and when they make a determination they will let me know. The thing is that I havent sent them anything since receiving their letter after I dv'ed Aegis on this same account. Think they are trying to throw me off hoping that I wont send them a DV and they will say I missed the thirty days I had to DV it?