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LVNV Debt Validation... Round 2

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Anonymous
Not applicable

LVNV Debt Validation... Round 2

Ok LVNV is still on my CR from an HSBC account I that was charged off 5 years ago.

I know I have two years left but I would rather fight to have them gone now.

 

Right now thankfully they are only reporting to Equifax but the OC is on all three CRA as a charge off.

 

Last year since the SOL was up i decided to Media DV them and then send a second request CMRRR and I got the green card back.... NOTHING!

Waited the 90 days or so and then sent copies of everything I sent to Equifax... Got a response back that THEY validated it!!!

 

What gives? I seriously doubt LVNV has any media to to back up this collection and therefore it should be removed.

 

I am going to give this another shot but I need all you experts out there to give me some info on how do get the best results.

 

Thanks in advance to all...

Message 1 of 9
8 REPLIES 8
llecs
Moderator Emeritus

Re: LVNV Debt Validation... Round 2

Have you tried a PFD, or is there a disagreement with the debt?

 

BTW, a CA has forever to validate, though most will respond within a few weeks. If you disagree with what they claim, you can always get with the BBB, your AG, and so forth for reporting a debt that may not be yours. In other words, you put up a fight and they delete to avoid the aggrevation.

Message 2 of 9
Anonymous
Not applicable

Re: LVNV Debt Validation... Round 2

The debt owed is valid however I disagree that 60% of the balance is fees! I seriously doubt they can validate anything especially since it is with LVNV and the charge off is over 5 yrs old.
Message 3 of 9
Anonymous
Not applicable

Re: LVNV Debt Validation... Round 2


@Anonymous wrote:

Ok LVNV is still on my CR from an HSBC account I that was charged off 5 years ago.

I know I have two years left but I would rather fight to have them gone now.

 

Right now thankfully they are only reporting to Equifax but the OC is on all three CRA as a charge off.

 

Last year since the SOL was up i decided to Media DV them and then send a second request CMRRR and I got the green card back.... NOTHING!

Waited the 90 days or so and then sent copies of everything I sent to Equifax... Got a response back that THEY validated it!!!

 

What gives? I seriously doubt LVNV has any media to to back up this collection and therefore it should be removed.

 

I am going to give this another shot but I need all you experts out there to give me some info on how do get the best results.

 

Thanks in advance to all...


 

 

Not sure what you mean by "media" DV. 

 

First of all, a DV request  is not something a creditor normally has to even respond to.  If it is made within 30 days of their first communication with you, then they must stop collection activities until they validate, but nothing whatsoever mandates they must respond -- unless you live in Texas.

 

In the off chance that your use of the term "media" relates to those "full media validation" DV letters floating around the Internet, those are bogus and worthless.  If you specifically request it, the CA must identify the original creditor, but otherwise they only have to provide you with the amount owed and a breakdown of the amount if there are any fees or additional amounts claimed that are not identified in your original credit agreement.  That they need to provide copies of statements, contracts, loan agreements, CA licensing or even documents with your signature on them is all an old wives tale.

Message 4 of 9
Anonymous
Not applicable

Re: LVNV Debt Validation... Round 2


@Anonymous wrote:
The debt owed is valid however I disagree that 60% of the balance is fees! I seriously doubt they can validate anything especially since it is with LVNV and the charge off is over 5 yrs old.

Interest and fees stated in the original credit agreement continue to run even after you have stopped paying on the debt.

Message 5 of 9
Anonymous
Not applicable

Re: LVNV Debt Validation... Round 2

Yep, I have seen it go up and up and up... Smiley Mad

 

Nothing inaccurate here just trying to get the TL off my CR

Message 6 of 9
HindSight_20_20
Frequent Contributor

Re: LVNV Debt Validation... Round 2


@Anonymous wrote:

Yep, I have seen it go up and up and up... Smiley Mad

 

Nothing inaccurate here just trying to get the TL off my CR


700CM,

 

"nothing inaccurate here"..... I'd disagree, while fees and interest continue to rise I HIGHLY doubted that they are rising at the rate LVNV is adding them on to your balance.

 

They are my "pet peeve" of CA's and while I have no love for CA's I respect the fact that they where hired to do a job and for the most part they do that within the limitations of the law.  NOT LVNV so no, do not accept them increasing your balances every month in 10-15-20 dollar increments as they are known for doing as well as posting monthly (90+ 120+ day lattes) as an open of "factoring"  account!

 

I fought them for inaccurate reporting and got them removed from my reports but I had to file a claim to do so and I was prepared to go the long haul with them AND their pseudo companies.  They remain the focus of many other lawsuit's as well for bogus reporting tactics.  Oh and they will not validate anything with you, or entertain PFD's. If they do that will be a first (and believe me I've been on them for almost 3 years now).

 

 


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Message 7 of 9
Anonymous
Not applicable

Re: LVNV Debt Validation... Round 2


@HindSight_20_20 wrote:

@Anonymous wrote:

Yep, I have seen it go up and up and up... Smiley Mad

 

Nothing inaccurate here just trying to get the TL off my CR


700CM,

 

"nothing inaccurate here"..... I'd disagree, while fees and interest continue to rise I HIGHLY doubted that they are rising at the rate LVNV is adding them on to your balance.

 

They are my "pet peeve" of CA's and while I have no love for CA's I respect the fact that they where hired to do a job and for the most part they do that within the limitations of the law.  NOT LVNV so no, do not accept them increasing your balances every month in 10-15-20 dollar increments as they are known for doing as well as posting monthly (90+ 120+ day lattes) as an open of "factoring"  account!

 

I fought them for inaccurate reporting and got them removed from my reports but I had to file a claim to do so and I was prepared to go the long haul with them AND their pseudo companies.  They remain the focus of many other lawsuit's as well for bogus reporting tactics.  Oh and they will not validate anything with you, or entertain PFD's. If they do that will be a first (and believe me I've been on them for almost 3 years now).

 

 


 

60% over five years is more than reasonable.  In most states, even judgments carry 10% interest per year.  Credit card and other consumer credit debt carries interest at the original contract rate until paid in most states and most credit agreements callfor penalty interest rates for accounts in default.  It would be totally reasonable for, say, a $1,000 credit card chargeoff with Chase to become a $3,000 debt after 6 years.  Totally reasonable.  And legal. 

Message 8 of 9
RobertEG
Legendary Contributor

Re: LVNV Debt Validation... Round 2

To pick up on the thread of responses posted by O6, I would listen to the wisdom in those responses.

I think maybe you are confusing debt validation under FDCPA 809(b) with a dispute of accuracy of credit reporting, which is separately done under the FCRA.

DV letters are not a dispute of accuracy of credit reporting..  DV letters are a debt collection practices matter.  If timely sent by you, they compel only one thing (except for Texas residents).  That being the cessation of further collection activities until such time as they may choose to provide validation.

Lack of debt validation under the separate statutory debt collection statute under the FDCPA is not related  to dispute with the CRA for credit report removal under the FCRA.  So I am not surprised that the CRA took no action based on FDCPA matters.

 

The underlying issue is whether the debt and postiings by the OC were accurate.  If the debt was owed, and thus their subsequent reporting of monthly delinquencies, their charge-off, and their collection referral based on that debt, cannot be disputed as inaccurate under FCRA 611(a) or 623(a)(8), then I see no grounds for CR reporting dispute.

 

 

Message 9 of 9
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