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I recently got a copy of my CR from a lender and saw LVNV Funding on there. I had never heard of them before this. It has the Date opened of the collection as 8-11, from an old Capital One account from 8/05. The amount charged off by Capital One was $677, the amount LVNV has on here as collecting is $925. Are they allowed to do that? Also, aren't they required to contact me FIRST before just reporting an acocunt to a CA? I want to try and contact them or someone who can help me resolve this but The date listed on my CR as last activity is 08/05. Will this fall off in a few months? I'm afraid if I do something now, it won't. What should I do from here?
Any advice would be appreciated
No, there is no requirement that a debt collector have any communication with you prior to reporting their collection activity to a CRA.
However, their reporting triggers their requirement under FDCPA 809(a) to send you dunning notice within 5 days thereafter.
You have the right to send a request for debt verification to the debt collector, part of which is a request for an itemization of the debt so that you can determine the legitimacy of the asserted charges. Under FDCPA 808(1), it is a violation of statute for them to attempt to collect any fees, interest, or charges that are incidental to the principal balance unless specifically authorized in your original agreement with the credtior or is othewise specifically authorized by statute in your jurisdiction.
Thus, you need an itemized statement from them in order to evaluate the legality of their charges.
I looks as if you need to send a DV.
The exclusion date for both the charge-off done by the OC and the reported collection are the same. It is 7 years plus 180 days from the DOFD on the OC account, which is totally unaffected by any other dates reported. Do you know the DOFD on the OC account?