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Collections - Midland and LVNV

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WXYZ78006
Member

Collections - Midland and LVNV

Just jumping on the bandwagon. We have already hit most of the student loans back into positive status.

We are one of the many that will have fun with LVNV AND Midland.

ISSUE ONE - We have paid (his) and are currently disputing with the CRA as they have not updated the information. Additionally, I have letters going out as I was under the impression they would be PFD. Currently one CRA is reporting as 120 past due and another as settled. I have sent letters to the CRA to rectify this. If not, is my next dispute back to the midland for not doing what they promised. I have documentation on my end for everything.

ISSUE TWO - After reading these forums, I don't even know how to approach (my) Midland situation. Should I DV first or ask for a PFD?

ISSUE THREE - We have already paid "resurgent" and I DVed LVNV because I didn't recognize them. Now I've come to realize there is a connection between the two. What is my next approach. I want them gone already!!! Any tips?

Thanks to all who have placed their education and stories for guidance.

Here's hoping for the new house and the 700 club..... This year!
(WX) '13START TU500 EQ592 & 19'RESET TU545
(YZ) '13START TU586 -> 621 EQ612 & PAID OFF ALL FOR 19'RESET EXP589
Message 1 of 3
2 REPLIES 2
RobertEG
Legendary Contributor

Re: Collections - Midland and LVNV

As I understand the post, you have paid a collection and have issues with how it is now reporting.

 

The bottom-line requrement for any reporting made to a CRA is that the furnisher is under an obligation (FCRA 623(a)(2)) to promptly update any changes in the reported information so as to maintain its current accuracy.

 

Applying that to a paid collection, they must promptly update to show $0 remaining under collection, and that the collection is closed.

They are not required to delete the reported collection, as payment does not negate the fact of their prior collection authority and activity

 

Unpaid collections depend unpon the status of their collection activity, and whether you legitimately dispute the debt.

If they complied with dunning notice requirement, and more than 30 days has passed since they sent notice, then any DV would be untimely, and impose no requirement on the debt collector to respond or to cease any collection activity. Would your DV be timely?

 

If timely, a DV imposes no requriement that they respond, it requires them to cease collection activity until they have done so.

The cease collection bar imposed by a timely DV also precludes the consumer from pursuing PFD negotiations, as the debt collector is barred from any collection activity until they choose to provide the requested debt verification.  So it will put everything into a state of limbo.

 

If you dont dispute the actuald debt and need prompt CR deletion, then it might be better to forgo a timely DV, and make them a PFD offer.

It depends upon your needs and situation.

 

Message 2 of 3
WXYZ78006
Member

Re: Collections - Midland and LVNV

On the separate PFD offer (ISSUE TWO) What is midland known for? Under my first circumstance, I settled 2 accounts and was told I could have it. Under this new situation, there is only one account. Do I try to bargain with them, Or offer the full amount up front? The account was placed into collections about a year ago with a current obligation of around 3K. With the OC the account was listed as sales Financing whereas now it is under a factoring company with Midland. The current amount does appear to be inflated around $400. Each month I receive a SW on a new, increased amount.

In about a month I will have the full amount to pay. Do I start to DV now or set up conversations for a PFD?
(WX) '13START TU500 EQ592 & 19'RESET TU545
(YZ) '13START TU586 -> 621 EQ612 & PAID OFF ALL FOR 19'RESET EXP589
Message 3 of 3
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