What to do

[stucktruck204]

I am not sure if i should wait untill next year for the capital one (now owned by lvnv) to fall off or pay it.  I keep reading that someone will sue you at the last minute.   All of the other lines on my report i am ok with paying.  I am in the process of trying to get a home loan.  My middle credit score when pulled by the mortgage company was 521.  I am just starting out here.

CAPITAL ONE BANK USA NA #****

P O BO X 30281

SA LT LA KE C IT Y , U T 84130

(800) 258-9319

Date Opened: 05/15/2006

Responsibility: Individual A ccount

Account Type: Revolving A ccount

Loan Type: C REDIT C A RD

Account Sale Info: A C C O U NT SO LD T O NO RT H STA R A C Q U ISIT IO NS

Remarks: P U RC HA SED BY A NO T HER LENDER; TRA NSFERRED T O A NO T HER O FFIC E

Estimated month and year that this item will be removed: 09/2014

05/2010 04/2010 03/2010 02/2010 01/2010 12/2009 11/2009 10/2009 09/2009 08/2009

Rating C/O C/O C/O C/O C/O C/O C/O C/O C/O C/O

07/2009 06/2009 05/2009 04/2009 03/2009 02/2009 01/2009 12/2008 11/2008 10/2008

Rating C/O C/O C/O C/O C/O C/O C/O C/O C/O C/O

09/2008 08/2008 07/2008 06/2008 05/2008 04/2008 03/2008 02/2008 01/2008 12/2007

Rating C/O C/O C/O C/O C/O N/R 120 120 90 60

11/2007 10/2007 09/2007 08/2007 07/2007 06/2007 05/2007 04/2007 03/2007 02/2007

Rating 30 OK OK OK OK 30 OK OK OK OK

01/2007 12/2006 11/2006 10/2006 09/2006 08/2006 07/2006 06/2006 05/2006

Rating OK OK OK OK OK OK OK OK OK

Balance: $0

Date Updated: 06/06/2010

Payment Received: $0

Last Payment Made: 09/07/2007

High Balance: $953

Credit Limit: $500

Pay Status: >C harged O ff<

Terms: P aid M onthly

Date Closed: 05/04/2008

>M aximum Delinquency of 120 days in

02/2008 for $98 and in 03/2008 for $123<

https://annualcreditreport.transunion.com/products/single/viewPrintableReportCRS3.jsp?printView=true... 3/15

10/28/13 TransUnion

HSBC BANK #****

P O BO X 30253

salt lake city, U T 84130

(800) 695-6950

Date Opened: 09/13/2007

Responsibility: Individual A ccount

Account Type: Revolving A ccount

Loan Type: C REDIT C A RD

Remarks: P U RC HA SED BY A NO T HER LENDER; TRA NSFERRED T O A NO T HER O FFIC E

Estimated month and year that this item will be removed: 09/2014

04/2008 03/2008 02/2008 01/2008 12/2007 11/2007 10/2007 09/2007

Rating C/O 120 120 90 60 30 OK OK

LVNV FUNDING LLC #****

625 P ilot Rd

Suite 2/3

Las V egas, NV 89119

(866) 464-1183

Date Opened: 12/30/2011

Responsibility: Individual A ccount

Account Type: O pen A ccount

Loan Type: FA C T O RING

High Balance: High balance of $1,294 from 08/2013 to 10/2013

Estimated month and year that this item will be removed: 09/2014

10/2013 09/2013 08/2013 07/2013 06/2013 05/2013 04/2013 03/2013 02/2013 01/2013

Balance $1,395 $1,391 $1,387

Past Due $1,395 $1,391 $1,387

Remarks >C LA < >C LA < >C LA <

Rating COL COL COL COL COL COL COL COL COL COL

12/2012 11/2012 10/2012 09/2012 08/2012 07/2012 06/2012 05/2012 04/2012 03/2012

Rating COL COL COL COL COL COL COL COL COL COL

02/2012 01/2012

Rating COL COL

LVNV FUNDING LLC #****

https://annualcreditreport.transunion.com/products/single/viewPrintableReportCRS3.jsp?printView=true... 4/15

Balance: $0

Date Updated: 05/31/2008

Payment Received: $0

High Balance: $514

Credit Limit: $0

Pay Status: >C harged O ff<

Terms: P aid M onthly

Date Closed: 02/13/2008

>M aximum Delinquency of 120 days in

02/2008 for $86 and in 03/2008 for $64<

Date Updated: 10/07/2013 Pay Status: >In C ollection<

Original Creditor: C A P ITA L O NE BA NK

U SA N A (Financial)

C O M P A NY

A C C O U NT

10/28/13 TransUnion

LVNV FUNDING LLC #526835000493****

625 P ilot Rd

Suite 2/3

Las V egas, NV 89119

(866) 464-1183

Date Opened: 09/23/2011

Responsibility: Individual A ccount

Account Type: O pen A ccount

Loan Type: FA C T O RING

High Balance: High balance of $762 from 11/2011 to 10/2013

Estimated month and year that this item will be removed: 09/2014

Date Updated: 10/07/2013 Pay Status: >In C ollection<

Original Creditor: HSBC BA NK NEV A DA N

A HSBC C A (Financial)

C O M P A NY

A C C O U NT

10/2013 09/2013 08/2013 07/2013 06/2013 05/2013 04/2013 03/2013 02/2013 01/2013

Balance $789 $788 $787 $786 $785 $784 $783 $781 $781 $780

Past Due $789 $788 $787 $786 $785 $784 $783 $781 $781 $780

Remarks >C LA < >C LA < >C LA < >C LA < >C LA < >C LA < >C LA < >C LA < >C LA < >C LA <

Rating COL COL COL COL COL COL COL COL COL COL

12/2012 11/2012 10/2012 09/2012 08/2012 07/2012 06/2012 05/2012 04/2012 03/2012

Balance $778 $777 $776 $775 $774 $773 $772 $771 $770 $769

Past Due $778 $777 $776 $775 $774 $773 $772 $771 $770 $769

Remarks >C LA < >C LA < >C LA < >C LA < >C LA < >C LA < >C LA < >C LA < >C LA < >C LA <

Rating COL COL COL COL COL COL COL COL COL COL

02/2012 01/2012 12/2011 11/2011 10/2011 09/2011

Balance $768 $767 $766 $765

Past Due $768 $767 $766 $765

Remarks >C LA < >C LA < >C LA < >C LA <

Rating COL COL COL COL COL COL

[juggalo9er]

not saying it will happen to you but my wife had that happen to her. the creditor in her case like yours was capitol one who sold the debt to someone who in turn sued her. The horrible thing was they waited till 6 months before it would have aged off which in turn kinda reset the counter and made a public record appear. if you have the money to pay them i would suggest offering somewhere around 50% of what you owe and make sure they put in writing they will delete the account. keep in mind they may have purchased these accounts from capitol one for pennies on the dollar.

[Shokk]

---

@juggalo9er wrote:

not saying it will happen to you but my wife had that happen to her. the creditor in her case like yours was capitol one who sold the debt to someone who in turn sued her. The horrible thing was they waited till 6 months before it would have aged off which in turn kinda reset the counter and made a public record appear. if you have the money to pay them i would suggest offering somewhere around 50% of what you owe and make sure they put in writing they will delete the account. keep in mind they may have purchased these accounts from capitol one for pennies on the dollar.

---

Uh, what?

This completely depends on what state you're in and what the SOL is.  You can be sued at any time, but have a defense if its past SOL.

To the OP, what state are you in?  Looks like these debts are over 5 years old.  You need to start out with DV letters.  But again, we need to know what the SOL is first.

[stucktruck204]

I am in Pennsylvania.

[beanie7132]

I could be wrong, but I believe PA is 4 years on credit card debt. So if its been 5 years since your last payment (or promise to pay) then they are out of SOL and you have the SOL defense in case they try to bring suit against you. 

I cannot advise on wether you should pay it or not, that is a moral decision you need to make yourself. I did fight LVNV through the BBB and got the TL removed from my reports without making payment.

[stucktruck204]

Even if I call lvnv and pay it off it will remain there?  I am willing to pay it off to start my credit back in the right direction. 

[beanie7132]

paying it will not remove it. 

Especially with LVNV. I dont even think they accept PFD's. LVNV and Midland are the worst CA's to deal with. I also would never pay LVNV over the phone. Ever. If I decided to pay them it would be via cashiers check and mailed certified with return receipt.

I do not know the laws in PA - some states have laws that making a partial payment, or a new promise to pay, resets the SOL. So, I would read up on that before moving forward. 

You can send them a DV letter. Standard rule is to ALWAYS send a DV letter before taking any other steps. A DV letter will not hurt you, but keep in mind that LVNV does not have to respond to it either. 

[stucktruck204]

PA is 4 years SOL.  It sounds like it makes more sense for me to just let it go and focus on the newwer debt and pay it off.

[beanie7132]

There are a few things you could fight - IE: account type and terms on LVNVs reporting. Not sure how far it will get you. 

LVNV was on my report collecting for an HSBC account. They were adding 4-10 dollars each month, inconsistantly. I complained to the BBB for no dunning, incorrect reporting, ect. It worked for me. That was months ago, and I believe numerous people have tried that avenue as well. Some with success, and others with a bigger headache than what they started with. LVNV is reporting on you every month, and its out of SOL, so no need to worry about waking a sleeping giant. In the end you have nothing to lose really. 

CFPB has also worked for some. 

[stucktruck204]

I am sure I have never paid it off.  Should i just contact lvnv and pay them?