LVNV funding. Im lost

[crab1983]

Im so lost with all this. Ive been reading through post after post and with the hundreds of stories and im not sure how to proceed.  Ive been cleaning up my credit for some time and only have a few left.  I have disputed with them online from equifax but that seemed to be a waste of time because they verified all the information and everything stayed the same on my report including the fact that they were a factoring company, and its listed as an installment loan.  I dont know how to get the ball rolling.  Do i send a DV?  go straight to BBB?  I have no idea if they sent me a letter before because i had so many debts, i just threw them away.  Also equifax list date opened as 11/13.  the original debt is from credit one which was opened in 9/07.  if anyone can help or point me in the right direction with where to start, i would appreciate it thanks.

[RobertEG]

When dealing with a debt collector, they were required to have sent you a collection (dunning) notice within 5 days after initiating their collection activities.

I presume they did so.

You can send a request to a debt collector for validation of the debt at any time, but once more than 30 days has exipred from date of their dunning notice. it imposes no cease collection bar on them.  They are not required to cease collection or respond if you send an untimely DV.

You probably missed the boat as to timeliness of a DV, and thus any requirement on the debt collector.

As for disputes under the FCRA, once the CRA has concluded their reinvestigation and verified the accuracy of the reporting, there is no formal appeal.

They are not required to provide documentation or prove the accuracy of the reporting.  They normally rely on a statement of verification provided to them by the furnisher of the dispute information as their basis for verification of the dispute.

If you still disagree with the outcome, you have four main options.

1  You can file a renewed dispute provided you have additional information that was not previously provided.  If you file a renewed dispute without additional information, they can dismiss it without any need for investigation on the merits.

2.  If you have CLEAR proof that they did not conduct a reasonable investitation, and not just a simple difference of opinion, you could possible have basis for filing a formal complaint with the CFPB for lack of reasonable investigation of the dispute.  However, the CFPB is not a court, and thus unless the facts are clear as to a lack of reasonble investigation, and thus improper verification, that most likely will not carry the day.

3.  If you feel, whether or not there is a violation of the FCRA in their handling of the dispute, they have nonetheless conducted poor business practices, you can file a complaint with your local BBB.  However, a BBB has no actual enforcement power, and thus there is no requirement that they respond to a BBB.

4.  If you want a review of the positions of both sides as to the adequacy of their verification, then you need to get the issue before a court, who has the power to compel both sides to produce all relevant information, and make a legal determination as to who is correct.  You can file your own civil action to get the issues resolved.

A dispute process is not a legal fact-finding process that will reach a determiantion as to who is correct.

[crab1983]

Thank you for all the information.  I guess my new question would be, would them reporting to equifax be considered new information since it says date reported as 11/13.  I still dont understand how equifax could allow them to verify this account as an open account and installment loan when its neither.

[LIGHTNIN]

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@crab1983 wrote:

Im so lost with all this. Ive been reading through post after post and with the hundreds of stories and im not sure how to proceed.  Ive been cleaning up my credit for some time and only have a few left.  I have disputed with them online from equifax but that seemed to be a waste of time because they verified all the information and everything stayed the same on my report including the fact that they were a factoring company, and its listed as an installment loan.  I dont know how to get the ball rolling.  Do i send a DV?  go straight to BBB?  I have no idea if they sent me a letter before because i had so many debts, i just threw them away.  Also equifax list date opened as 11/13.  the original debt is from credit one which was opened in 9/07.  if anyone can help or point me in the right direction with where to start, i would appreciate it thanks.

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Hi and Welcome to the forums,

Congrats to YOU, on cleaning up your CR and only having a few left. Woo Hoo!!

You said that EQ listed the date opened as 11/13, but the original debt with credit one was opened 9/07.

The 11/13 date, is the date the CA opened their file on this debt.

Since you only have a few items left on your CR, I would suggest starting a thread for each item, then list your questions that you have for that individual debt. Also, if you keep reading and learning from others here on the forums, you will not feel lost anymore.

[crab1983]

I dont think it is considering it's been all 3 reports for a few years now. And I have been reading. And although its great to hear all the success stories, most seem to be done within the 30 days. I was hoping someone could hold my hand for this first one. Its the most important one I think and I dont want screw up my chances by doing something I shouldnt.

[crab1983]

Bump