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Lvnv

Date: Wed, 05/12/2010 - 06:38

Submitted by anonymous
on Wed, 05/12/2010 - 06:38

Posts: 202330 Credits: [Donate]

Total Replies: 2


We are scheduled to close on our home loan in 10 days but due to new law, we cannot close if we have ever 'disputed' any item on our credit report. We did dispute LVNV because we went to court and had the item dismissed by a judge because they could not provide proof of the debt they claimed. NOW FHA has forced us to call them and bed them to 'remove the dispute comment' from our credit report. (yes i know it seems backwards, I should be able to call the credit bureau and have the comment that I myself placed onto the report, removed, but no, its a racket, i have to ask the creditor to remove it!). Anyway- now LVNV is forcing me to call TrakAmerica and ALW sourcing. No one seems to be able to help us to get this comment removed and now they want to re-open the acct and force us to pay on it. We are just up in arms as to waht to do. WHO can remove this comment? WHO can we call at LVNV? HOW can we make this happen?


My guess is this has nothing to do with the comment itself but the fact that a deliquent account is showing up on your credit report. Most banks will require that you settle debts like this prior to authorizing a home mortgage. I think that is why they are asking you to contact LVNV. A few options you might try are as follows:

1. Settle the account with LVNV in writing to show as proof to the bank.
2. Dispute the debt with all 3 credit agencies.
3. If it has been more than 7 years dispute as outside the reporting limit.
4. Send debt validation to LVNV to dispute the debt.

Unfortunately all of these will take more than just a couple days time which might mess up your closing.


lrhall41

Submitted by DOLLARSandSINCE on Wed, 05/12/2010 - 10:06

( Posts: 1078 | Credits: )