Rebuilding Your Credit

[Nella]

Good Morning All,

I am looking for a little advice on how to get started.  I have an old Mervyns Account 11/06 and an old JCPennys

account 12/06 listed with a balance of 0 but as a bad debt.  Then LVNV Fund has an account opened 08/2008

for amount of $1,088 and another account opened 11/2007 for the amount of $1,101.  Now I know that the LVNV

are for the Mervyns and JCPennys but all four are listed.  My first question, shouldn't only 2 be listed, and what

should be my steps to try and get them resolved?

Any advice would be most appreciated!

Thanks!!!

[casmith1980]

All 4 can be listed....but they would all fall off at the same date as the original accounts. If you've received a dunning letter from LVNV, send them a DV letter. Ask for a breakdown of these charges. The reason the Melvyn's and JCP accounts are reporting $0 is not because you paid them, but in fact it's because they are now "charge offs". Rule is, once an OC charges an account off AND sells the account to a CA, they have to change the amount to $0. If I'm not mistaken, a lt of people have has success with PFD with LVNV. Are you capable of paying these balances off? If so, write PFD letters for both, and once removed, send copies of the cleared payments and agreement to the OCs. One more question: what state are you in? Need to determine if you are out of the SOL for being sued before you send DV letter

[Nella]

Thanks for the information.  I am in Calif.  Now since Mervyns is out of business, where would I find out

who the OC is for that account?

[casmith1980]

I think you're safe on the SOL if I remember correctly... That's a good question about Mervyns....try sending a letter to the address shown on your credit report. If its returned, I would dispute through the CRAs, once "verified" you can ask for their means of verification.

[Nella]

Cool thanks!!  Will do