LVNV advice and help needed

[bkelly906]

I know  there are a ton of threads associated with these guys and I have looked through a lot of them so I apologize for asking questions that may have already been answered.

I have LVNV on my Equifax report only.  I have no idea what this is for and there is not another collection associated with this on my report.  I have disputed this with all 3 CRA's and it was deleted from TU and EX.

They are reporting on EQ under Negative Accounts/Closed Accounts

Under Type of account is says Open

Creditor Classification as Financial

High Credit: $727

Credit Limit: $0

Balance: $1578

Type of Loan: Factoring Company Account (debt buyer)

DOFD: 03/2008

This is going to drop off soon but I really just want it gone.  I'm not exactly sure why it is under closed accounts but says it is open.  I also don't really know what the creditor classification and the type of loan mean.  These are different from any other negative account I have had.

I just sent them a DV letter yesterday CMRRR.  I know they don't have to answer it because it definately isn't timely, but I figured it can't hurt anything.  They are updating every month as it is.  I'm not sure how EQ verified this when I disputed it but it was deleted from TU and EX.

Any advice on steps I can take or an explanation of the creditor classification and type of loan would be appreciated.

[Anonymous]

"Factoring Company", is a 3rd party Junk Debt Buyer trying to make themselves look like they are not a CA. They try to get away with breaking the FDCPA and FCRA rules that way - "We're a factoring company, not a CA so we don't have to follow the rules for CA's"

Basically, Factoring Company = sleazeball CA.

"Creditor Classification as Financial" I'm assuming means it was some type of charge card account.

[bkelly906]

Is it legal for them to report like that?  I'm not going to try to dispute with EQ since I already tried and failed.  Would this be a legit reason to file a BBB complaint on them?

[Anomalous]

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@bkelly906 wrote:

I know  there are a ton of threads associated with these guys and I have looked through a lot of them so I apologize for asking questions that may have already been answered.

I have LVNV on my Equifax report only.  I have no idea what this is for and there is not another collection associated with this on my report.  I have disputed this with all 3 CRA's and it was deleted from TU and EX.

They are reporting on EQ under Negative Accounts/Closed Accounts

Under Type of account is says Open

Creditor Classification as Financial

High Credit: $727

Credit Limit: $0

Balance: $1578

Type of Loan: Factoring Company Account (debt buyer)

DOFD: 03/2008

This is going to drop off soon but I really just want it gone.  I'm not exactly sure why it is under closed accounts but says it is open.  I also don't really know what the creditor classification and the type of loan mean.  These are different from any other negative account I have had.

I just sent them a DV letter yesterday CMRRR.  I know they don't have to answer it because it definately isn't timely, but I figured it can't hurt anything.  They are updating every month as it is.  I'm not sure how EQ verified this when I disputed it but it was deleted from TU and EX.

Any advice on steps I can take or an explanation of the creditor classification and type of loan would be appreciated.

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Did you have a Credit One CC? I have LVNV on my report and Credit One was the OC that's listed. I disputed it and waiting for it to be removed as an early exclusion, but it's scheduled to fall off my report Jan. 2015.

[bkelly906]

No I never had a credit one card.

[Anomalous]

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@bkelly906 wrote:

Is it legal for them to report like that?  I'm not going to try to dispute with EQ since I already tried and failed.  Would this be a legit reason to file a BBB complaint on them?

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Possibly. Here's what someone did in an older thread, but you'll have to find out which of your accounts they purchased.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/ByeBye-LVNV/m-p/1956781/highlight/true#M24844...

Hope this helps! 

[bkelly906]

Thanks for that information. I must have missed that before. I'm going to go through my old credit reports from when I started rebuilding and see if I can find out who the original creditor is and file a complaint.