LVNV Funding
Date: Tue, 05/31/2011 - 14:36
Well, there's the short way, and then there is the long way. It
Well, there's the short way, and then there is the long way. It really depends on what you want to happen in the end. Let me explain...
LVNV is known for not caring about the law. And this is a violation of a federal law--the FCRA. So, if you simply want this done, you could either contact LVNV themselves and remind them that the account has been settled, and that they have a legal obligation to report it as such.....or you could contact the credit bureau, dispute the entry, and inform them that the account is closed and has been settled in full. They will contact LVNV and ask them to update the report. LVNV should--repeat, SHOULD--at that time change the entry, but as I said they are not good at following the law. So, at that point, they might verify the entry as is, in which case the entry will not change on your credit report.
If you dispute and it changes, then thats the end. But if it doesnt change, then you now have the legal basis for a lawsuit against LVNV for violating the FCRA. Keep this in mind--a violation of the FCRA means that they could end up paying you up to $1000 per violation. Also, check all three of your credit reports--if they did this on all three, then dispute on all three. If they do not change it, then you now have them on THREE violations, which means you can sue them for $3000 plus court costs.
