Help! New Collection Account...LVNV

[JGWantsAHouse]

I just received a notification from Equifax that a new collection has been added. The DOLA is 07/2005 and I don't know what account its for because I haven't received a dunning letter.

Should I go ahead and send a DV or wait to get the letter to request validation? Help! I wanted to apply for a mortgage and God knows how much impact this is going to have on my score. I haven't received a score watch alert yet.

The company is LVNV, has anyone dealt with them before?

[Chinadoll]

I had the same thing happen to me today!!! This is really screwing with my score and report. I just got pre-approved for a mortgage and my score dropped 14 points today because of this account. There is no information about this account on my report either. This sucks! Anyone have any advice on what we can do. I need to get this removed and my score back up to 701 quickly!!!

[rbtextreme]

Same thing happened to me today! **bleep** is going on? They bought a CO account from B of A that was charged off in 2005.

[llecs]

They must be really digging for some ca$h...they popped out of nowhere on my EQ today too. EQ FICO dropped 21 points. I haven't pulled my EQ from equifax.com yet to confirm, but the balance corresponds with a telecom debt that last appeared on my CR in the fall of 2007. The DOFD would be 2004 or 2005. The CR's DOLA was 2/2006 and DOFD always preceeds DOLA.

I'm going to start by sending a DV to them. Hadn't received a dunning but also moved a year ago too. I'll see what they say. I dealt with them back in 2007 on a different debt and they folded after receiving a DV.

[rbtextreme]

I called them and disputed the debt. Should I still send a DV? Can you please let me know the address that I'll need to mail this to? I appreciate any advice!

[Anonymous]

First off LVNV blows!!! I am actually helping my brother out with a suit pending from them. First hearing was in 06/11...my brother showed up to fight it and some rep for the attorney was there on their behalf and asked my brother if he wanted to settle...my brother told them NO and it was rescheduled for 09/11...my brother shows up and the same rep is there on behalf of the attorney....at this time my brother is irritated and tells the rep that he wants a trial so she tells him to go back into the court room and the Judge tells him to go up stairs to another court room. Finally we got the court clerk to set a trial date for 01/12...if the attorney is not present by then the case will be dismissed in favor of my brother and if by any chance someone is there on behalf of the attorney and don't have any of the documents that my brother has requested the case will be dismissed.

Regarding the collection on the credit report...I would first dispute it with CRA because the way LVNV funding is with their records they won't verify the account in 30 days so the CRA will have to remove it. Remember  you can dispute anything on your credit report at anytime, for any reason. The burden of proof is on the CRAs. You are the plaintiff, the CRAs are the defendant. You will need to get in that mindset when dealing with disputes. The best way of disputing is in writing, by mail. It's best not to dispute online. You can dispute as often as you want, but you should wait 30-40 days between disputes. If you send a dispute before that, it extends the current dispute.

[JGWantsAHouse]

This is crazy! I guess I'll go ahead and put the DV in the mail. I'm glad I have alot of practice with DVs. I only lost 8 points but I want them back!

[Anonymous]

5 Biggest Mistakes People Make in Credit Repair

SCOTTSDALE, AZ--(Marketwire - February 22, 2011) - Mod Cut is not difficult, but you can shoot yourself in the foot if you don't pay attention to a few little things. Here are common mistakes people make which can be easily avoided:

1. Failing to dispute with the credit bureaus FIRST. Don't first send disputes to the Mod Cut collection agency or mortgage companies. Always dispute your negatives with the Mod Cut before doing anything else. In the first credit bureau dispute, 10-20% of all items fall off. Get the easy stuff first.
2. Disputing items online. Never do this! You will not have any written records of your dispute (the return receipt). You will not be able to send documentation backing up your dispute. If you are disputing errors in your name, SSN or address, you have to send your request in writing any way.
3. Failing to document your efforts. The credit bureaus must respond to you within 30 days or the item must come off. If you don't keep track of when the time is up, you are missing an important advantage. Keep track of when you send and receive letters. You should also make sure you send your disputes certified mail, return receipt requested.
4. Being unrealistic. If your credit report is in bad shape, there isn't a quick fix. Mod Cut takes time, usually from 6 months to a year. Patience is required to see results.
5. Giving up. The process seems overwhelming at first, especially if you are new to credit repair. Take one step at a time. You don't have to do everything at once. Do things a few days or a week apart. Don't spend more than an hour at a stretch doing anything.

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Edited to remove links to a credit repair site.

MarineVietVet, myFICO moderator

[MarineVietVet]

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@Anonymous wrote:

First off LVNV blows!!! I am actually helping my brother out with a suit pending from them. First hearing was in 06/11...my brother showed up to fight it and some rep for the attorney was there on their behalf and asked my brother if he wanted to settle...my brother told them NO and it was rescheduled for 09/11...my brother shows up and the same rep is there on behalf of the attorney....at this time my brother is irritated and tells the rep that he wants a trial so she tells him to go back into the court room and the Judge tells him to go up stairs to another court room. Finally we got the court clerk to set a trial date for 01/12...if the attorney is not present by then the case will be dismissed in favor of my brother and if by any chance someone is there on behalf of the attorney and don't have any of the documents that my brother has requested the case will be dismissed.

Regarding the collection on the credit report...I would first dispute it with CRA because the way LVNV funding is with their records they won't verify the account in 30 days so the CRA will have to remove it. Remember  you can dispute anything on your credit report at anytime, for any reason. The burden of proof is on the CRAs. You are the plaintiff, the CRAs are the defendant. You will need to get in that mindset when dealing with disputes. The best way of disputing is in writing, by mail. It's best not to dispute online. You can dispute as often as you want, but you should wait 30-40 days between disputes. If you send a dispute before that, it extends the current dispute.

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I want to remind everyone that disputing accurate information is unethical and recommending such an action is a violation of the forums  User Guidelines, Terms of Service & Credit Repair Discussion Guidelines.

MarineVietVet, myFIO moderator

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[LIGHTNIN]

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@rbtextreme wrote:
I called them and disputed the debt. Should I still send a DV? Can you please let me know the address that I'll need to mail this to? I appreciate any advice!

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Hi and Welcome to the forums,

Yes send a DV letter to LVNV.  If they are reporting, use the address listed on your CR.

If they only sent you a dunning letter, use the address listed in the letter.

Good Luck to you