Need some expert advice on DV & CA (long)

nickeypoo72 — Tue, 22 May 2007 14:27:12 GMT

Looking for some serious advice on my situation. Thank you very much for your input!!!!!

I have a Sears Mastercard that was charged off last year. At some point in time, and I don't recall when, I received a notice from Resurgents stating they were collecting for LVNV for this account charged off. It's possible I received something from LVNV in the mail, but I don't honestly remember if I did, and if I did I haven't kept it. I made some payment arrangments with Resurgents(through a CCCS I had been working with) and made 6 pymts on the account. However in the last 5 months I've been unable to make any payments and now I am receiving letters from Professional Recovery for the collection of the account.

I called Resurgent soon after I received the new notice from Professional Recovery and was told all payments I make needed to be made to Professional Recovery as they were now handling the account, and that Professional Recovery would forward the payments to them.

I'm at a cross roads here because I am getting a 0% loan from my boss to pay off the balance. The problem is that he wants to get a settlement from the collection agency. I want to pay it in full to avoid any further collection activity on it - and to hopefully make my credit report look better.

In my research online I've been told to DV the original CA and ask for PFD - and to skip Professional Recovery. My old counselor at the CCCS told me to pay in full to Professional Recovery and keep copies of everything I send and then do a follow up with each of CA (LVNV, Resurg, Prof Recov) in 30 days.

I am 4 days shy of the 30 day DV period from the first letter I received from Professional Recovery. I am so confused - and now having my boss want to contact the CA to get a deal for me is even more stressful. I don't even think they will talk to him about it. I know he is just trying to help me - and I'm trying to be grateful, but I'm just so stressed about it.

Here is what is showing on my credit report for this situation:

LVNV Funding - balance is correct based on the payments I made to Resurgents. I've never made payments to LVNV - only to Resurgents.

Date of last payment [?] Sep, 2005
Account number

Largest past balance [?] $4,937
Credit Type [?] Open Account
Account holder [?] Individual
Scheduled payment amount [?] $0

Descriptions [?]
Collection account
No contact information provided by Equifax
Balance [?] Current Status [?] Past Due Amount [?]
$4,271 120+ days past due $4,271

Seven year payment history [?]
30 days late 0 times
60 days late 0 times
90+ days late 0 times

Sears - the OC is showing as:

Cbusasears Status as of June 2006
Date opened [?] Jun, 1993
Date of last payment [?] Sep, 2005
Account number
Largest past balance [?] $4,560
Credit Type [?] Revolving
Account holder [?] Individual
Scheduled payment amount [?] $0

Descriptions [?]
Account transferred or sold
Credit Card
No contact information provided by Equifax
Balance [?] Current Status [?] Past Due Amount [?]
$0 Bad debt/collection Not on Record

Re: Need some expert advice on DV & CA (long)

Anonymous — Tue, 22 May 2007 14:34:35 GMT

Very simple, you have to DV Prof. Recov. they are the ones handling it now. If you DV Resurg. that will be meaningless. After you DV Prof. Recov. just pay it from the loan you are getting from your boss. This happens allot. debts are bought and sold all the time, not too uncommon. But DV Prof. REcov. and then make the payments and have it be done with so you can move on.

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Need some expert advice on DV & CA (long)

Re: Need some expert advice on DV & CA (long)