LVNV Funding & paid judgement

[Anonymous]

Hi all,

  I recently paid in full a judgment filed by LVNV funding for $14,800.  It was filed back in May of 2014 and was paid via a wage garnishement.  It was BY FAR my largest charge off from 2009 so, for it to be paid is a huge relief to me.

I have a few questions for anyone who may have had experience with this company:

My questions are:  1) I overpaid by about $300 just because the garnishment didn't stop when it should have -- will they refund me this money?  2) They are taking FOREVER to update the balance on my reports.  It still shows as $1,700 and it hasn't been that for months.  How long do they take to updae their reporting, and 3)  Will they send me a satsfaction of judgement?  Will they file it with the county?

As an aside, this account was orignally with Citi. Will the fact that it was PIF get me anywhere with them?  I know they will  not show it in their systems but maybe I could send them a copy of the satisfied judgement?  I want back in the door with them and the fact that this huge amount was paid should mean something.

Thanks in advance!!

[Anonymous]

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@Anonymous wrote:

Hi all,

  I recently paid in full a judgment filed by LVNV funding for $14,800.  It was filed back in May of 2014 and was paid via a wage garnishement.  It was BY FAR my largest charge off from 2009 so, for it to be one is a huge relief to me.

I have a few questions for anyone who may have had experience with this company:

My questions are:  1) I overpaid by about $300 just because the garnishment didn't stop when it should have -- will they refund me this money?  2) They are taking FOREVER to update the balance on my reports.  It still shows as $1,700 and it hasn't been that for months.  How long do they take to updae their reporting, and 3)  Will they send me a satsfaction of judgement?  Will they file it with the county?

As an aside, this account was orignally with Citi. Will the fact that it was PIF get me anywhere with them?  I know they will  not show it in their systems but maybe I could send them a copy of the satisfied judgement?  I want back in the door with them and the fact that this huge amount was paid should mean something.

Thanks in advance!!

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How Citi will view this depends on whether LVNV bought the debt, or if they sued on behalf of Citi. If they sued on behalf of Citi, thats more favorable, because then th bulk of the money actually went into Citi's coffers.

[RobertEG]

The rules of civi procedure require that they send notice of satisfaction of the jugment to the judgment court within a certan period after satisfaction.

That is not optional on their part, and has a specific time period under the law/regs of your state.

As for credit reporting, the FCRA requires that they "promptly" update their reporting when necessary to reflect its current accuracy.

There is not requirment in days, only that the updating be prompt.  See FCRA 623(a)(2).

HOWEVER, update would only apply to a collection, if a collection is in your credit report.

The debt collector did not "report" the judgment, and is not responsible for updating the judgment info in your credit report.

The judgment was placed in your file by the CRA via their search of public records information, and its update will be required by the CRA once the public record has been update to show satisfaction of the judgment.

A reasonable intermpretation of prompt would be in their next regular reporting cycle.

I a collection is being reported and your issue is update of that collection balance, then you can file a dispute of accuracy, compellling their investigation and correction or deletion within 30'ish days, and/or file a complaint with the CFPB for their failure to comply wiht the promptness provisions of FCRA 623(a)(2).