LVNV Advice please

[Anonymous]

yep, another LVNV post.  I have searched all the LVNV threads  to see if this has been addressed but did not see it, I apologize if recently duplicated.

About six months ago, before I knew about MyFico, I decided to take control of some old debt that had been haunting me due to laziness, stupidity and ignorance on my part and I paid my debts.  Unfortunately, under the Ignorance banner, I paid CA for Sears, Discover and medicals.  Last month, I found MyFico at the same time as being shocked about how bad my CR looked (This is where the stupidity part comes into play...)

I have the HIPPA process started for the medicals.  Am optimistic and will post details as I hit stumbling blocks.

Discover's CA (Redline Recovery) has never posted to CR so I am not sure what direction to go there. Discover is showing as CO, not showing as paid; or more correctly, settled.  I'm thinking I need to start with Discover to see if the debt was sold or contracted out for collection and go from there.

LVNV & SEARS:  Sears is showing as a CO.  I settled with Creditor's Interchange and they are no where on my CR other than an INQ.  When I saw LVNV last month, I truly did not know who they were, did not have any correspondence from them and have never paid them although they were showing 'settled'.  They are not on my paperwork for Cred. Int, which does reference Resurgent.  So I DV LVNV about 28 days ago and have heard nothing from them.  I contacted Sears and they sold the debt to Sherman.  Research shows that Sherman, LVNV, Resurgent, and Creditor's Interchange are all the same.  LVNV is only one on my CR.

LVNV is showing as an Installment Account.  TU lists as Factoring Company, EX lists as credit extension, review, or collection and EQ lists as Collection.  Pay Status for all 3 is Collection/Chargeoff.  Remarks all say account legally settled for less than balance (or similiar verbage.)  Side note:  I live in FL which requries CA registration.  LVNV is not active status because they have failed to file annual reports.  Creditors Inter. is an active, registered CA.

Should I DV again and then go to CRA?  Since I paid Creditor's Interchange, which is part of LVNV, didn't I self-validate?  I settled for 75%, as a last resort I am willing to offer them a 100% with PFD but I know they have already made more money off of me than they paid for the bad debt so I can't see them jumping on that since we are talking about less than $300 for the difference.

Or do I accept this is one of those hard lessons learned for being irresponsible with a credit card and live with them until they drop off in 2013?  (That hurt to type!)

Thanks for any input.

[Anonymous]

Check Florida laws.

Is each office required to be registered, licensed, or bonded? Can just the main company be registered, licensed, or bonded?

IMO, LVNV is not correctly reporting if you did not pay them and your collection notice never mentioned them. The other company should be reporting, as you didn't have an account with LVNV. I understand they are sister businesses, but that doesn't mean nothing. Again, just my opinion.

Is Discover reporting a balance? If not, then likely they sold the account, which means they won't update when you pay the CA. As long as Discover is not showing a balance, I would leave it be, unless you choose to send GW.

[Anonymous]

I have read the state statute carefully and it does not differentiate dba's or sister companies. Since both companies are assigned seperate FEINs, then it is my uneducated guess the state will look at them separately.  I am hanging on to that little bit of information nugget as another outlet.

My thoughts are to DV again and if no response, then dispute with CRA with copies of DV and green cards.  As a last resort file a complaint with AG because LVNV is not a registered CA with the state.  Even though my research tells me that the two are the same, the burden of proof is on LVNV and I plan to use the channels necessary to make them do that because I have had no business transactions or correspondence with LVNV.

I am fully aware that this may mean that LVNV goes away and will be replaced by Creditor's Interchange on my reports.  My scores may even suffer more because it will look like a new hit. But DOFD can't change and I can live with an ugly CR as long as it is reported accurately.  My scores are low 500's but all my debts have been satisfied so I can live with the repercussions of my stupidity; time will take care of it.

However, I have spent many hours in the past month on this board and have learned alot and respect the opinions of most.  If my arguments or thought process is not valid, please share that with me.

thanks.

[Anonymous]

Sidewinder - thank you so much for your input.  Your questions validated my thought process with regards to LVNV showing up on my CR.

As for Discover, I am going to just let this set for a little while.  Discover is not showing a balance, just the CO so I imagine the debt was sold.  It's a CO from 2007, realistically goodwill probably won't do me much good and I am thankful that Redline Recovery is just an INQ and not posting as a CA even though I did pay them for my Discover fiasco.  Right now just focusing on cleaning the messes I made with LVNV and medical collections.  Then will start GW campaigns.  It was too intimidating to try to tackle everything at once. 

Again, thanks for sounding in so quickly.  I do appreciate you and all the other mods and experience posters.