05-11-2012 02:15 PM
If you DV a CA who is reporting a balance and they remove it, how do you GW the OC? Is it better to just PFD and hope for the best?
I'm dealing with LVNV right now. I have sent the DV, but haven't heard anything back, shocker! I want to try and GW the OC, but if it's not paid I doubt they'll do it. Does LVNV ever comply with PFDs? All I've seen is people report them to the BBB and have their accounts deleted. Does the OC get the debt back after that happens?
05-11-2012 02:42 PM
First, and foremost, any issues of paying the debt requires that you know who currently owns the debt.
Is the debt collector now the owner of the debt, or are they simply an assigned collection agent for the OC?
If the OC still owns the debt and are willing to accept payment, they can only agree to delete whatever reporting they have made. They cannot compel their debt collector to delete their separate reporting. If both have reported, and the OC still owns the debt, you can offer a PFD to either, which would pertain only to their reporting. Most consumers in that situation choose to offer PFD to the debt collector, wanting what they regard as the more serious reporting of the collection deleted.
If the OC no longer owns the debt, they cannot accept any payment, PFD or otherwise.
The OC never "gets the account back" based on credit reporting issues. They either have ownership or they dont. Deletion by a debt collector only relates to reporting, not ownership. Debt collector deletion usually results from the fact that they are no longer collecting on the debt, and want to be rid of any further credit reporting issues.
A new debt collector may enter the picture. LVNV has numerous affiliated debt collectors, and often uses that tactic, requiring a new cycle of DV.
Both creditors and debt collectors use credit reporting as a collection tactic, and will rarely grant a good-will deletion of negative information when the debt remains unpaid.