LVNV Funding is screwing me over

[Anonymous]

Hi everyone! I'd appreciate some advice/tips about how to deal with this situtation. It's very aggravating and unfair.

Backstory: I had a Credit One CC that went into collections with LVNV Funding a few years back. The charge off balance was $800+. Last summer I recieved a letter from a lawyer's office offering a settlement of $550. I agreed, signed the paperwork and set up a payment schedule and automatic payments. I was paying on time every month and then on the final month of the final payment I noticed the amount I usually pay wasn't withdrawn from my account. I called the lawyer's office to inquire and I was told the creditor closed the account with the lawyer's office. I was refunded my final payment. Now I check my credit report and this account is back in collections with a balance of $300+, which is the difference between the charge off amount and the settlement amount. I think this hugely unfair considering I accepted the settlement and I was paying on time.

I've disputed the account with Transunion with no resolution and I'm doing it again. Any other advice? I'd read a lot about how LVNV is super shady but I'm willing to put in the work. TIA!

[RobertEG]

You appear to have a primary issue of whether you have complied with the terms of the contract.

That is a legal matter for which the terms of the contract must be evaluated.

Was your final payment made in compliance with the terms of the contract, and if so, did it satisfy the fnal amount of the debt?

I would consult an attorney for advisement as to whether you have satisfied the contract, and whehter they are violating any of its tems.

The final accounting, including credit reporting, would flow from that determination.

[RonM21]

I think Robert's suggestion to contact an attorney to be sure, is a good move to make Also, when I read your post, I took it as a settlement off with payments. So it seems the outcome should have been that the account updates to show paid for a settlement amount or something similar.

[pipeguy]

Considering the history of LVNV and their tactics, this doesn't surprise me at all. What does surprise me is that LVNV offered you a "discounted" payoff, but it sounds like its their typical bait and bait and switch. BTW, Credit One and LVNV are one in the same - Sherman LLC et al, owns and runs both...