OMG LVNV collection shows up after making offer!!!! HELP!!

[SupraTurbo2jz]

Ok so title says it all, We found a home Sunday made offer yesterday (waiting on answer) and low and behold LVNV shows up today for a collection. I know I paid this off 5 years ago but I no longer have proof (moved several times) DOFD was june of 08. Ive pasted how its listed on my equifax its also on my experian hasnt hit TU yet...funny thing is the FAKO scores havent changed since they hit???? My concern is how does this affect us if we get to closing???? I've heard horror stories of having credit pulled a few days before closing and I'm worried this is gonna kill us. We just got our middles over 640 actually mine is 609ex 640eq 657tu lender pulled. Any and all advice is appreciated because I'm in full panic mode.

LVNV FUNDING LLC  Hide Details	4146XXXXXXXXXXXX	12/30/2011	$730	11/12/2013	$730	COLLECTION ACCOUNT
LVNV FUNDING LLC PO Box 10497 Ste 110, Ms 576 Greenville, SC-296030497 (866) 464-1183 Account Number: 414683000807XXXX  Status: COLLECTION ACCOUNT  Account Owner: Individual Account.  High Credit: $691   Type of Account : Open Credit Limit:   Term Duration:   Terms Frequency:   Date Opened: 12/30/2011   Balance: $730   Date Reported: 11/12/2013  Amount Past Due: $730  Date of Last Payment:   Actual Payment Amount:   Scheduled Payment Amount:   Date of Last Activity: N/A Date Major Delinquency First Reported: 11/2013  Months Reviewed: N/A  Creditor Classification: Financial  Activity Designator: N/A  Charge Off Amount:   Deferred Payment Start Date:   Balloon Payment Amount:   Balloon Payment Date:   Date Closed:   Type of Loan: Factoring Company Account (debt buyer)  Date of First Delinquency: 06/2008

[IOBA]

Take a few deep breaths.  Deep, deep breaths.  Sit down.  Have paper and pen.

Think.

You paid it off previously.  To whom?  To the original creditor?  Contact the OC and ask for your records. Go pick  them up if you can.

To a debt collector?  Contact the debt collector and ask for the records.  

You paid it off previously.   How?   Credit card?  Which card?  Pay for the statement(s) that would have this transaction on it.

Check?  Which bank account?  Pay for the statement(s) that would have the transaction on it.  Pay for a copy of the check.  

There is a VERY good chance that either payment method still has surviving records.

Send a request for validation letter to the creditor.  By law, they have to stop all collection activity until they send proof of the debt.  Do NOT send anything to the credit bureaus.

Now that you have taken action to recover the proof that you paid, write a letter of explaination to the lender.  Do not give it to them.  Do not say anything to them.  Just have the letter written, copied for your records, and in an envelope ready to go if needed.

You may get through closing without this being an issue.

[SupraTurbo2jz]

ok I saw you reply way to late...lol talked to my lendor just so they knew I was upfront and he said

"It is not really another credit report, just will need to deal with any new inquiries (hopefully there are none)

 How much is the coll acct for?

so from that he didnt seem to worried about it (I have no new inquiries btw ) so maybe it was a pre-mature panic???? I told him how much it was for and haven't heard anything back yet...so fingers crossed.

[rose921]

Send DV letter to them today ! They did the same to me about a month ago on a 6.5 year old debt & the deleted from all credit reports in 30 days. Maybe it'll come off yours before any possible repulls before you close

[SupraTurbo2jz]

ok so thought it didnt affect my score but today low and behold my fico alert says my score drop to 618 on my equifax....I'm beyond panic now only thing I can think of is to pay down some more credit cards to compensate....that was my middle score mind you...and of course Fannie Mae just accepted our offer this morning....this is so beyond belief.