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Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
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Is LVNV trying to mess me up for 2 years until this falls off in 2014?

What does placing a dispute flag on the account due to my report and score. Dealing with LVNV and they are saying they will be placing a dispute status on my TL.

 

"

In accordance with the Fair Credit Reporting Act, the LVNV tradeline is being reported as “disputed” to the three major consumer reporting agencies. It will continue to report as such until the account is closed due to a valid dispute or the statute of limitations for credit bureau reporting expires. "

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Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
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Established Contributor
Posts: 888
Registered: ‎10-31-2011
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Re: Is LVNV trying to mess me up for 2 years until this falls off in 2014?


jordanmedical wrote:

What does placing a dispute flag on the account due to my report and score. Dealing with LVNV and they are saying they will be placing a dispute status on my TL.

 

"

In accordance with the Fair Credit Reporting Act, the LVNV tradeline is being reported as “disputed” to the three major consumer reporting agencies. It will continue to report as such until the account is closed due to a valid dispute or the statute of limitations for credit bureau reporting expires. "


IMO this is "legal" but unnecessary as just another way that LVNV uses credit reporting as leverage to apply pressure to collect an account. Factoring Company (BS), Open Account (another technical gamesmanship term) and now this "open dispute" are just creative ways of making you react. My hope is that the new July 2012 CFPB rules and promised supervision of large debt collection agencies will put an end to this nonsense or at the very least require a standardization of reporting terms.

Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
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Re: Is LVNV trying to mess me up for 2 years until this falls off in 2014?

Do you think a letter from my lawyer will get them to remove it or a PFD?

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

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Established Contributor
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Re: Is LVNV trying to mess me up for 2 years until this falls off in 2014?

[ Edited ]

jordanmedical wrote:

Do you think a letter from my lawyer will get them to remove it or a PFD?


Couldn't hurt (the letter).

 

If it was me, I would not offer a PFD unless everything else fails.

 

****************

 

Note Edited: I had replied to two different LVNV threads posted at about the same time - my previous response (now deleted) was based on the other tread - sorry for the mix-up. 

Mega Contributor
Posts: 19,098
Registered: ‎03-19-2007
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Re: Is LVNV trying to mess me up for 2 years until this falls off in 2014?

[ Edited ]

In my opinion, what they have done is NOT legal.

Dispute flags are placed in a consumer's credit file to report that the CONSUMER has initiated a dispute under the FCRA.  If you never filed a direct dispute with them under the provisions of FCRA 623(a)(8), they have NO basis for reporting a dispute to a CRA.  "Disputes" over verification of a debt, such as a DV, are not disputes under the FCRA.

Your "dispute," even if they consider one to exist, is not under the FCRA dispute process.

 

Their threat is already, in my opinion, a violation of FDCPA 807(5) as a "threat to take any action that cannot legally be taken or that is not intended to be taken."

I would send them a letter stating as such, and advising them of your intent to pursue civil action should they falsely report your filing with them of a direct dispute.

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Posts: 50
Registered: ‎02-21-2012
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Re: Is LVNV trying to mess me up for 2 years until this falls off in 2014?


pipeguy wrote:

jordanmedical wrote:

What does placing a dispute flag on the account due to my report and score. Dealing with LVNV and they are saying they will be placing a dispute status on my TL.

 

"

In accordance with the Fair Credit Reporting Act, the LVNV tradeline is being reported as “disputed” to the three major consumer reporting agencies. It will continue to report as such until the account is closed due to a valid dispute or the statute of limitations for credit bureau reporting expires. "


IMO this is "legal" but unnecessary as just another way that LVNV uses credit reporting as leverage to apply pressure to collect an account. Factoring Company (BS), Open Account (another technical gamesmanship term) and now this "open dispute" are just creative ways of making you react. My hope is that the new July 2012 CFPB rules and promised supervision of large debt collection agencies will put an end to this nonsense or at the very least require a standardization of reporting terms.


Do you have a link with more info by any chance?  I'm not familiar with this and it sounds very interesting.  LVNV and Resurgent both put my accounts under dispute on my CR when I sent them PFD letters.

Valued Contributor
Posts: 2,660
Registered: ‎04-25-2011
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Re: Is LVNV trying to mess me up for 2 years until this falls off in 2014?


RobertEG wrote:

In my opinion, what they have done is NOT legal.

Dispute flags are placed in a consumer's credit file to report that the CONSUMER has initiated a dispute under the FCRA.  If you never filed a direct dispute with them under the provisions of FCRA 623(a)(8), they have NO basis for reporting a dispute to a CRA.  "Disputes" over verification of a debt, such as a DV, are not disputes under the FCRA.

Your "dispute," even if they consider one to exist, is not under the FCRA dispute process.

 

Their threat is already, in my opinion, a violation of FDCPA 807(5) as a "threat to take any action that cannot legally be taken or that is not intended to be taken."

I would send them a letter stating as such, and advising them of your intent to pursue civil action should they falsely report your filing with them of a direct dispute.



I would agree with you, but we do not know the context in which this 'dispute' was placed.

 

If one files through the BBB, does this constitute as a dispute? How you do feel about that Robert?

 

Initially I got the same information on my response/ from the BBB, that they were listing the account in disputer because I disputed that account via the BBB, stating they didn't follow the rules by reporting and not sending a dunning.

 

To me, I think the consumer has to place a dispute on an account, but does a complaint with the BBB constitute as a dispute?

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
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Registered: ‎10-31-2011
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Re: Is OLAV trying to mess me up for 2 years until this falls off in 2014?


howiez28 wrote:

pipeguy wrote:

jordanmedical wrote:

What does placing a dispute flag on the account due to my report and score. Dealing with LVNV and they are saying they will be placing a dispute status on my TL.

 

"

In accordance with the Fair Credit Reporting Act, the LVNV tradeline is being reported as “disputed” to the three major consumer reporting agencies. It will continue to report as such until the account is closed due to a valid dispute or the statute of limitations for credit bureau reporting expires. "


IMO this is "legal" but unnecessary as just another way that LVNV uses credit reporting as leverage to apply pressure to collect an account. Factoring Company (BS), Open Account (another technical gamesmanship term) and now this "open dispute" are just creative ways of making you react. My hope is that the new July 2012 CFPB rules and promised supervision of large debt collection agencies will put an end to this nonsense or at the very least require a standardization of reporting terms.


Do you have a link with more info by any chance?  I'm not familiar with this and it sounds very interesting.  LVNV and Resurgent both put my accounts under dispute on my CR when I sent them PFD letters.


Do you mean the CFPB rules for supervision? If so, do a search on myFICO as I posted several links to articles about a month ago, or look on the CFPB web site for their purposed rules (public comment period now closed) for oversight-supervision of large debt collection agencies.

 

I have to leave for work right now, but if you can't find the info, I'll post links later tonight.


 

Mega Contributor
Posts: 19,098
Registered: ‎03-19-2007
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Re: Is LVNV trying to mess me up for 2 years until this falls off in 2014?

[ Edited ]

The CRA reporting manual, under the codes for disputes, explicitly refers to disputes filed under the FCRA.  They are called "FCRA Compliance codes."

Disputes under the FCRA are limited only to those initiated by a consumer under the provisions of either FCRA 611(a) or 623(a)(8). 

There are no provisions for reporting requests for debt verification, and certainly letters to a BBB are not FCRA disputes. BBBs have no statutory administration authority under the FCRA.  They are private parties.

 

"Disputes" with a debt collector, such as a request for DV, are not allegations of inaccuracy of credit reporting, and do not even require any documentation of an inaccuracy.

 

Even if they did consider the consumer to have filed an FCRA dispute, they have the statutory obligation to complete an investigation of the "dispute"  within 30 days, and send a finding of results to the consumer within 5 days thereafter.  They cant just sit on a dispute or fail to notify the CRA of its staturtory resolution. 

 

Their statement that "It will continue to report as such until the account is closed due to a valid dispute" makes absolutely NO sense.  Since when do disputes close an account?  And doesnt that also imply that there is currently no "valid dispute?" 

 

Established Contributor
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Registered: ‎04-08-2012
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Re: Is LVNV trying to mess me up for 2 years until this falls off in 2014?

[ Edited ]

Tell me more about that provision, Robert.

 

Could I write this letter myself about them doing this or should I get my pre-paid legal to do it?

 

My Equifax alert says they did what they said adding "Consumer disputes account information"

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Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

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