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New Member
ImproveMyScoreSoon
Posts: 5
Registered: ‎03-23-2013
0

LVNV Complaint - BBB

Hello everyone,

I am new to the forum and need some guidance on LVNV funding which is the only item on my CR that is preventing me from qualifying for a mortgage.  I recently submitted a complaint to BBB regarding LVNV funding inaccurately reporting to the CRAs.  They are attempting to collect on an account that I disputed with Arrow Financial Services and with the CRAs in 2009.   After the account was investigated, it was subsequently deleted from my credit report in 2009.  I have documentation supporting the fact that the collection agency at the time attempted to validate the debt and ceased collection activity.  I also have a copy of the letter from TransUnion stating that the account was deleted from my CR.  In my complaint I requested that LVNV remove the tradelines and not to sell the account to another company.  I submitted the supporting documents to the BBB along with my complaint.  Should this be enough evidence to get the inaccurate LVNV collection removed from my CR?

 

Any advice is appreciated. Thanks

Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: LVNV Complaint - BBB

Welcome to the forums.

 

Are you saying that LVNV is reporting the same debt you sucessfully had deleted in 09 a different CA was reporting?

New Member
ImproveMyScoreSoon
Posts: 5
Registered: ‎03-23-2013
0

Re: LVNV Complaint - BBB

[ Edited ]

Thank you.  Yes, they are.  They are saying that Arrow Financial sold the account to them in 2011 and that they mailed a transfer of ownership letter to me in 2011.  But I have the documentation showing that this account was deleted in 2009.  Can they get away with this?

Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: LVNV Complaint - BBB

[ Edited ]

Without knowing exactly what happened it is hard to say.  Was it fraud?

 

Generally, if an account is disputed and removed due to the dispute, the CRAs have to certify the account is verified before re-inserting then notify you.  However, this doesn't seem to be the case.  You filed a complaint with the BBB and the other CA agreed to delete.

 

Now another CA has it.  Is it on the same CR?

 

Any time an account is removed for a reason other than being paid it is very possible it will come back.

 

New Member
ImproveMyScoreSoon
Posts: 5
Registered: ‎03-23-2013
0

Re: LVNV Complaint - BBB


guiness56 wrote:

Without knowing exactly what happened it is hard to say.  Was it fraud?

 

Generally, if an account is disputed and removed due to the dispute, the CRAs have to certify the account is verified before re-inserting then notify you.  However, this doesn't seem to be the case.  You filed a complaint with the BBB and the other CA agreed to delete.

 

Now another CA has it.  Is it on the same CR?

 

Any time an account is removed for a reason other than being paid it is very possible it will come back.

 


I initially disputed the collection with Arrow Financial Services due to inaccuracies and also disputed the account with the CRAs in 2009.  The account was never verified by the original creditor, therfore Arrow ceased collection and I received a letter from TransUnion stating that the account had been investigated and was deleted from my credit report in 2009.  LVNV says that they bought the account from Arrow Financial in 2011 and LVNV funding is now reporting as a collection on my credit report to all 3 credit bureaus.  TheThat is one of the reasons that I am filing a complaint with the BBB regarding this.  How would I know if the CRAs have certified the account as verified?  I have not received any notice from the CRAs only the appearance of LVNV on my credit reports.
Thanks.
Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: LVNV Complaint - BBB

If that is the case then yes, the letter from TU should suffice in having it deleted.  I would also add that you were never notified within 5 days of the re-insertion per the FCRA.  This would go to the CRA.

New Member
ImproveMyScoreSoon
Posts: 5
Registered: ‎03-23-2013
0

Re: LVNV Complaint - BBB

Thank you for your response and the helpful information.

Mega Contributor
RobertEG
Posts: 18,206
Registered: ‎03-19-2007
0

Re: LVNV Complaint - BBB

[ Edited ]

+1

If deleted based on lack of verification of a prior dispute, then any party reporting a collection must first provide the lacking verification of the debt, the CRA must accept that verification, and the CRA must inform you of the reinsertion within 5 days.  FCRA 611(a)(5)(B).

 

Lacking any such notification from the CRA, the process was not followed.

 

However, a BBB complaint would be third on my list for addressing the issue.

 

First would be a formal complaint or dispute sent to the CRA, with your supporting documentation of the prior dispute and the deletion as a result of that disptue.

What most likely happened is that when the debt collector reported, they did not notify the CRA that it was a reinsertion that required pre-certification.

The CRA has the records, and can be made aware of the debt collector's failure to have provided the certification of accuracy.  At his point, they are most likely unaware that they reinserted without their need compliance with section 611(a)(5)(B).

 

Second on my list would be a complaint addressed to the FTC, which has compliance authority over the FCRA and FDCPA.

However, prior to doing so, I would want to know who is in violation.... the debt collector for not notifying the CRA that it was a reinsertion, or the CRA for knowing it was a reinsertion and not sending the required notice to the consumer.

 

BBBs are informal complaints.

Contributor
chevyman
Posts: 662
Registered: ‎03-16-2013
0

Re: LVNV Complaint - BBB

They are adding inconsistent amounts to my my balance and if it is interest its over the state max rate
New Member
ImproveMyScoreSoon
Posts: 5
Registered: ‎03-23-2013
0

Re: LVNV Complaint - BBB

Thanks Robert, very helpful information!  Since I already submitted the complaint to the BBB, I will prepare a formal complaint for the CRA and the FTC while I wait for the BBB response.


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