LVNV question Please respond

[tinkytoo]

Hi everyone

I need a question answered I think it has been asked before but if someone can give me a correct answer. I had a creditone credit card it was charged off in 2008 it says is was sold to LVNV whom I truly dislike. On my eq and tu it is in the accounts section of my credit report is this better for it to be there instead of the collection area.

My other question is this reports on equifax as an account that is 120+ days past due can they report it as such or is this something I can dispute. I have tried to PFD them so many times but I don't think they will so I may just have to pay it because I trying to get my credit together to hopefully buy a house.

[paop]

I have the same situation with Portfolio Recovery they have it in the accounts section, and it is reporting 180 days late, and it says the account was opened in 08/2009.

Hopefully we get an answer to this

[britishbooklady]

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@tinkytoo wrote:

Hi everyone

I need a question answered I think it has been asked before but if someone can give me a correct answer. I had a creditone credit card it was charged off in 2008 it says is was sold to LVNV whom I truly dislike. On my eq and tu it is in the accounts section of my credit report is this better for it to be there instead of the collection area.

My other question is this reports on equifax as an account that is 120+ days past due can they report it as such or is this something I can dispute. I have tried to PFD them so many times but I don't think they will so I may just have to pay it because I trying to get my credit together to hopefully buy a house.

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Can you tell us who is reporting the TLs? Is it the collection agency (LVNV) or is it the original creditor (creditone)? Or is it both?

If it's the CA reporting it, then there is no point disputing the 120+ days past due - because a TL reported by a collection agency is BAD period...it doesn't matter what it says. 

What methods have you tried? Did you send a letter and, if so, did you send it CMRRR? Did you send them a DV letter first?

Sorry for the slew of questions...but the experts here will want to know these things in order to give you the best advice possible.

[tinkytoo]

Sorry I didn't get back sooner, I've been under the weather. Anyway yes the collection agency LVNV is reporting this 120+ days late. The original creditor has it as CO sold with a zero balance. Also yes I DV them they sent me a letter with two sentences saying who the original creditor was and how much is owed that's it. I have sent them PFD letters cause I just want it off my credit reports but they won't budge

[RobertEG]

A debt collector cant report a prior 120+ day late. In fact, regardless of what you are apparrently reading in your CR, they probably didnt.

When you have an account with an OC, then the OC can report activity between you and them on your account with them.

That is stored in what is called the base segment of your credit file.

The OC can post a status of their referral or sale of the debt to a debt collector, but that is just a status code on the OC account.  It is not an actual "collection account."

OCs dont establish collection accounts with the CRA,

Once the debt collector has been assigned or sold the debt for collection, they can then separately post a "collection account" to the CRA.  That is NEVER an account with you,  It is strictly between the debt collector and the CRA, and is stored in an entirely different segment of your credit file.  You cant be "120-days late" with the debt collector when you dont even have a legal contract with them of terms upon you could be late.  So they cant report "120-day lates."  They dont even have reporting codes that permit this.  OCs dont report actions on a collection account, and debt collectors dont report actions on an OC account.

What you are seeing, in my opinion, is a jumbled commercial credit report that is incorrectly leading you to believe that information posted by an OC was actually part of information posted by a debt collector under their collection account.  Most commercial credit reports are a co-mingling of information that often leads to mor confusion than it does explanation.

The best, and most complete consumer credit report that you can get, which is for the most part free of most of these santitized commercial credit reports, is through the free, annual, government sanctioned site at annualcreditreport.com.  It will give you the closest disclusure of your credit file than any other commercial CR I have seen.

If your commercial consumer credit report is the source of this confusion, I would refrain in disputing with either the CRA or the creditor until you have shown how their reproting was their fault.  They are not responsible for messes that a commercial vendor of credit reports based on your credit file creates in their presentation of the information.