LVNV and Statute of Limitations?

[Want2DoBetter]

Ugh...I received a letter from the dreaded LVNV Funding regarding a very old CompUSA account I had.  They are quoting a delinquent debt that I owe of $1,436.42.  I never had a balance higher than $565 on the card, which I opened back in 1995.   I pulled my credit report from Experian and found that the account was written off and closed and the last reporting was in 2003.  I live in Maryland and the statute of limitations is three years. 

Does anyone have any advice on how to deal with LVNV?  From what I've read, they are horrible to deal with.  I haven't called or responded to the letter until I know how to proceed.  I would think this would be a waste of their time, as the SOL has expired, but wanted to check with the experts here in the forum!  I thought perhaps I would send the form letter that ByrdMan provided in another post regarding their providing documentation of the debt, etc., but since the SOL is expired, may be I should just send I letter stating that? 

Any advice is SO appreciated!  Thank you! 

Stephanie

Message Edited by Want2DoBetter on 03-17-2008 12:10 PM

Message Edited by Want2DoBetter on 03-17-2008 12:11 PM

[Anonymous]

What is DOFD?

Are they currently reporting on your CR?

LVNV is good abou re-aging too.

If they are not currently on your CR and SOL is past, still within the CRTP, I'd send a DV.

[Want2DoBetter]

The date opened was 4/1995, the date of status is 08/2003 and the last reported was also 8/2003.  It is reported as HSBC/COMP USA, not by LVNV on my CR. 

Also, what is "re-aging"? 

Message Edited by Want2DoBetter on 03-17-2008 12:17 PM

[Anonymous]

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Want2DoBetter wrote:

The date opened was 4/1995, the date of status is 08/2003 and the last reported was also 8/2003.  It is reported as HSBC/COMP USA, not by LVNV on my CR. 

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You need DOLA and DOFD.      DOFD is the date CRTP goes by. On your credit report it should give this date or say "this account scheduled to remain on your report until ____" or something like that.

DOLA is important to SOL.

If LVNV is not reporting and you DV, this keeps them from reporting until they vaildate.

[Want2DoBetter]

The account is scheduled to remain on record until May of 2010.

[Junejer]

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@Want2DoBetter wrote:

The account is scheduled to remain on record until May of 2010.

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Sounds to me like you are past SOL, but double check your Date of First Delinquency (DOFD) to make sure. If you are past SOL, then you should DV them right away.

[Want2DoBetter]

The date of last delinquency is not given on my credit report from Experian, and that's the only report it is appearing on.  ?

[Junejer]

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@Want2DoBetter wrote:

The date of last delinquency is not given on my credit report from Experian, and that's the only report it is appearing on.  ?

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Either it's date of first delinquency or date of last activity.  One of those should be on the report.  If you don't find it on the myfico report, then you should try the annualcreditreport.com and get a full report from them.  It's free once per year.

[Anonymous]

If the OC is still reporting I would dispute it!   IF it comes back verified   I would then MOV the CRAs   and    send the OC  the OC letter (they must answer it!)  and it ask for complete account history.....you will see when DOFD and DOLA are.

DV the CA  now    do not disput that one...YET.

[Want2DoBetter]

The Experian report just lists a "last reported" as 8/2003 on  my full report.