topic LVNV Funding -- Paid Off 6/15 STILL updating MONTHLY in Rebuilding Your Credit

LVNV Funding -- Paid Off 6/15 STILL updating MONTHLY

Shann0n_marie — Wed, 12 Aug 2015 19:30:34 GMT

Really>??? The updated this to paid w/ 0 balance in June but are updating monthly still? As an OPEN account & Factoring Company?

Is this LEGAL? #PISSEDoff

What can I do?

Re: LVNV Funding -- Paid Off 6/15 STILL updating MONTHLY

RobertEG — Wed, 12 Aug 2015 19:52:03 GMT

The CRA reporting manual ("Credit Reporting Resource Guide") instructs furnsishers to discontinue updates once the debt is paid and no specific changes are being reported.

It is not an issue of legality. Neither the FCRA nor the FDCPA includes provisions that prevent such updates.

It is based on CRA policy.

I would first call the debt collector and advise them of the policy.

If they still continue to update, then file a dispute with the CRA.

Re: LVNV Funding -- Paid Off 6/15 STILL updating MONTHLY

Shann0n_marie — Thu, 13 Aug 2015 00:02:33 GMT

@RobertEG wrote:
The CRA reporting manual ("Credit Reporting Resource Guide") instructs furnsishers to discontinue updates once the debt is paid and no specific changes are being reported.
It is not an issue of legality. Neither the FCRA nor the FDCPA includes provisions that prevent such updates.
It is based on CRA policy.

I would first call the debt collector and advise them of the policy.
If they still continue to update, then file a dispute with the CRA.

Thank you!

Re: LVNV Funding -- Paid Off 6/15 STILL updating MONTHLY

Shann0n_marie — Thu, 13 Aug 2015 00:02:12 GMT

@RobertEG wrote:
The CRA reporting manual ("Credit Reporting Resource Guide") instructs furnsishers to discontinue updates once the debt is paid and no specific changes are being reported.
It is not an issue of legality. Neither the FCRA nor the FDCPA includes provisions that prevent such updates.
It is based on CRA policy.

I would first call the debt collector and advise them of the policy.
If they still continue to update, then file a dispute with the CRA.

Thank you. What about them reporting a payment history "months rated" and type of account as "OPEN" and as a Factoring Company Account? Is it correctly showing as PAID? (In the correct area?)

Re: LVNV Funding -- Paid Off 6/15 STILL updating MONTHLY

Shann0n_marie — Thu, 13 Aug 2015 13:53:45 GMT

@Shann0n_marie wrote:
@RobertEG wrote:
The CRA reporting manual ("Credit Reporting Resource Guide") instructs furnsishers to discontinue updates once the debt is paid and no specific changes are being reported.
It is not an issue of legality. Neither the FCRA nor the FDCPA includes provisions that prevent such updates.
It is based on CRA policy.

I would first call the debt collector and advise them of the policy.
If they still continue to update, then file a dispute with the CRA.
Thank you. What about them reporting a payment history "months rated" and type of account as "OPEN" and as a Factoring Company Account? Is it correctly showing as PAID? (In the correct area?)

Bump