LVNV Funding
Date: Tue, 12/21/2010 - 17:49
LVNV Funding is a collection agency. As far as I can understand,
LVNV Funding is a collection agency. As far as I can understand, your original creditor has sold off your account to them. Both the original creditor as well as the collection agency can report the account to the credit bureaus. The creditor can report the account as they have charged off the loan whereas the collection agency will report the account as they have not received their payments.
I just was dealing with them, My original creditor was Capital O
I just was dealing with them, My original creditor was Capital One. LVNV funding has been know to have fake accounts on your credit report and try to take you to court so watch out for that. Mine however was mine and my own fault but LVNV does not care if I am trying to make things better for my credit. They hire "attorney" offices-if thats what they really are- to collect the debt and they actually served me ,well my parents, at their house. They were taking me to court for the 3year old debt so doing research I wrote the offices but they will not write back. So I called the "attorney" and of course they would settle but they apparently have nothing to do with how they settle with it reflecting my CR. So I called LVNV funding/Resergent capital services and they say I can only deal with the "attorney's office" and the owner does not do pay for delete, where they would delete it off my credit report. My only choice is settled in full wich will most likley mess up my CR more from research I have done about it. It was keep it get a judgement or pay it and still have messed up credit. Its very frustrating how the CR system and FICO works.
My advice- A paid collection is slightly better then an unpaid one. Your charge off will be on your credit report for 7 1/2 years paid or not. Remember the older the negative mark the better.So just keep up with stuff from now on. Some would suggest sending a Letter of Validation by certified mail so they will validate your debt.Once they do, sent a settlement letter stating you have such and such to pay and you will as long as they mark it as delete on your CR or try Paid in full on your CR.
or
Call LVNV funding at 864-248-8700 and try to settle the amount for less but as long as they report it paid in full on your CR(credit report). ALWAYS get it in writting before you send any certified payment. NEVER do a check over phone, they then have a link to your accounts.
Good Luck!
