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
