Member
Tryingtogetthere
Posts: 19
Registered: ‎08-29-2012
LVNV Issues
[ Edited ]

Hi Board!

 

I have been going back and forth with LVNV through the BBB since August 30th. The basis of my complaint was their reporting as a Factoring Account, the account being listed as Open and adding monthly KD’s to my report. I received a response with the following statement.

 

“After further investigation, the following account has been closed. We apologize for any inconvenience experienced regarding this account. Additionally, Mr. Davis should receive no further communication from our office regarding this account.”

 

I wrote back asking for clarification on whether the TL would be deleted and they never responded back to the BBB. I then get this message today from the BBB.

 

10/09/2012

 

Dear ****** *****:

 

This message is in regard to your complaint submitted on 8/30/2012 4:59:45 AM against Resurgent Capital Services LP.  Your complaint was assigned ID ********.

 

While the company states account ending in **** has been closed/tradeline deleted from CRAs/will not be sold, they have provided a copy of judgment regarding Account Number:  ************** (attached).

 

The business has sent the BBB a message regarding this complaint, and we are passing it on to you.  The contents of this message are below or attached.  Please respond to this message within 10 days or the complaint will be closed.

 

Regards,

Linda J. Bentley
Dispute Resolution Director

 

This is the 1st I have heard of this Judgement!

 

MESSAGE FROM BUSINESS:

 

From: Holladay, Pamela

Sent: Thursday, October 04, 2012 10:11 AM
To: linda Bentley
Subject: RE: ****** *. *****; Case/File No. *******

 

This email serves as confirmation that the account number ending in 0019 will not be sold or transferred.

 

Thanks,

 

Pam Holladay

Compliance Analyst

Resurgent Capital Services

15 S. Main Street 5th Floor

               

 

Linda J. Bentley

408 N. Church St. Suite C

Greenville, SC 29601-2164

 

 

Dear Ms. Bentley:

 

This letter is in response to your correspondence dated August 30, 2012 regarding the above referenced individual. This is an additional account which should have been included with our initial response. We apologize for the confusion. LVNV Funding LLC (“LVNV”) currently owns account number ending in ****. Resurgent Capital Services L.P. (“Resurgent”) is the servicer of the account owned by LVNV.  The account was previously sold by Arrow Financial Services, LLC (“Arrow”) on or about September 23, 2011. As of the date of this communication, the account balance is $3,305.60.  Please review the following account information:

 

  1. Arrow advised that this account originated on November 21, 2005 and was opened with Washington Mutual Bank (“WAMU”).
  2. This account charged off on September 29, 2006.
  3. Arrow advised the last payment in the amount of $64.05 was received on February 25, 2011.
  4. No payments have been received on this account since Resurgent started servicing it in September 2011.

 

Regarding the credit bureau reporting of this account, the consumer reporting agencies define a factoring company as a company or individual who purchases accounts with the intent of collecting debts owed.  Therefore, the term is accurate in the situation outlined in the complaint.  Additionally, the statement “installment account” is generally how a revolving line of credit is defined by the credit bureaus.  Both of these comments are added by the bureaus to further define the account; therefore, these statements cannot be altered. We would like to note that it is our goal to adhere to all state and federal laws and regulations concerning the collection and credit bureau reporting of accounts.

 

At this time, the LVNV tradeline will not be deleted; however, it is being reported as disputed to the three major consumer reporting agencies. It will continue to report as ‘disputed’ until the account is closed due to a valid dispute or the statute of limitations for credit bureau reporting expires.

 

Prior to LVNV’s acquisition, Arrow Financial Services, LLC (“Arrow”) obtained a judgment against Mr. *****. The judgment was awarded to Arrow on May 12, 2009. All rights to collect were transferred to LVNV when this account was purchased from Arrow.

 

 

Sincerely,

 

 

P. Holladay

Compliance Department                                                     

Resurgent Capital Services L.P.

Enclosure

 

 

To me it looks like the BBB just misinterpreted what LVNV was saying. How should I proceed with this?  I will be applying for a Mortgage in the next couple months and do not have the option of waiting for it to fall off. I have also read that they are nearly impossible to get to do a PFD.