Credit one>LVNV Funding>Stenger Law

[Anonymous]

Hello fico community,

My husband and I are trying to purchase a home. He forgot about a credit card that he signed up for and it had annual fees some years ago. So at first it was on his credit report but now someone from stenger law sent a judgement to contact them. So I typed up the letter saying that we would pay but this item must be of of our report in $15 days. I then faxed it they was supposed to come to an agreement by the 8th. They never responded so i called them and the representative said that his "sources"  said that they don't mess with the credit report. They only make payment arrangements. So should I send a new letter or should I pay it and contact credit one. I have the money to pay it in full now but I just want to make sure it comes off of my report. The representatives also stated its unheard of for someone to ask if they can have the attornies remove it.  Please help

[thornback]

Hi Lq,  welcome to the forums!

The attorneys cannot remove anything from your credit report -- only the original creditor (CreditOne) can make credit reporting adjustments to their tradeline.  

If the debt is still within your state's statute of limitations for debt collection, then you should contact the law firm and pay the debt - either in full or a negotiated settlement amount - so they don't sue you.   You cannot make demands that they remove the account from you reports as they have zero control over that.    

Once the debt is settled, you can contact CreditOne and request a 'Goodwill deletion'.   Send them a letter stating that you have paid the debt (provide proof if you have it -- you should receive payment confirmation from the law firm), and kindly request they remove the account from your reports in good faith.   There have been other forum members that have had success with having CreditOne tradelines removed - you can search the forums for 'CreditOne Goodwill' or 'CreditOne Deletion' for examples.   

Good luck. 

[Anonymous]

thanks for the info should. Should I try to negotiate the price down  or just pay the full amount?

[vntrsc]

LVNV is a debt buyer.  If LVNV purchased the account, the law firm would accept payment for that company, not for Credit One.

Which company is on your credit report?   You mentioned a judgment.  Which company has the judgment against you?

[thornback]

That is completely up to you at this point.  It's possible Credit One would be more inclined to remove if the account is paid in full -- but it also may not matter either way.   I say do whatever best suits your budget.  If paying in full won't hurt (financially, not the psychological pain of paying ),  then pay in full.  If you need to save a little money, then try to settle.   

Did you have a chance to search the forums for other Credit One success stories?  If not, then maybe do so before deciding -- see if folks seemed to have more success after payment in full or settlements  - or if it didn't seem to matter at all. 

[thornback]

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@vntrsc wrote:

LVNV is a debt buyer.  If LVNV purchased the account, the law firm would accept payment for that company, not for Credit One.

Which company is on your credit report?   You mentioned a judgment.  Which company has the judgment against you?

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Good questions.  I assumed, based on OP's post, that the original CreditOne account is all that is showing on the reports right now.. no additional tradeline from LVNV.   I also assumed that the law firm (repping LVNV) has the judgment.  But these Qs do need to be answered for clarification.