Epic Contributor
Posts: 21,236
Registered: ‎03-19-2007
Re: LVNV BBB Response

I am unsure of what was your basis for complaint as it relates to them reporting as a factorng company.

A factoring company buys delinquent debt at a discount.  I dont see how that relates to their reporting of collection on their asset.  If they owned it, they had authority to attempt collection.


Regardless, closing of their collection does not mandate its deletion.  The issue with their reporting is whether they had legitimate right to report collection authority.  As the stated owner of the debt, I dont see basis for contesting their reporting.


In fact, if they sold it to another, that party could also report their collection on the debt.


The issue of ultimate credit report exclusion resides with the CRA, not the debt collector.  The debt collector is not barred from reporting at any time.  However, they are required, after any reporting of a collection, to provide the correct DOFD to the CRA in order to enable the CRA to comply with its CR exclusion requirement.

Once its CR exclusion period has passed, if it still appears in your CR, then inquiry to the CRA regarding their compliance with FCRA 605(c) is the path.

Until that time, I see no need for any response on your part.