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lvnv funding

Date: Tue, 02/05/2013 - 13:36
Submitted by on Tue, 02/05/2013 - 13:36
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I recently checked my credit score and i see i have a debt from lvnv funding. I do remember having credit cards i didnt pay off but how can i be sure when i pay them it will be off my credit score?


Translation ...Negative tradelines stay on your credit report from the date of first deliquency. One the reporting statutue of limitations is up, the tradeline should not appear on your report anymore. LVNV is a junk debt buyer which means they bought the debt as part of a portfolio. Before you decide to pay, hit them with a debt validation request via certified mail, return receipt requested.

Lots of information was left out or not questions. What state do you live in?? When was the date of your last payment? If it is past the SOL, there really is not point paying it...they cannot sue you. Well actually they can sue you but you would have a defense that the debt is time barred.


Submitted by SOAPLADY on Tue, 02/05/2013 - 22:25

SOAPLADY

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Negative tradelines stay on your credit report for a period of 7 years from the DoFD. Once the reporting SoL is up, the trade line will not appear on your credit report any more. LVNV is a JDB. Before you decide to pay, hit them with a DV request via CMRRR.


Submitted by Steve Barris on Tue, 02/05/2013 - 21:05

Steve Barris

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The trade line won't be removed from your credit report even after the debt has been paid off. Only the status of the account will be updated.


Submitted by ditchdebt on Tue, 02/05/2013 - 20:20

ditchdebt

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