HELP with LVNV Please?

[Jcreditmeister]

(I posted this to the end of another discussion... please don't think I'm just trying to repeat everywhere... Just thought I would post a new conversation)

Hello,

I am trying to prepare to qualify for a mortgage.  I have been utilizing this forum for years.. and have had a lot of success!!  My score was almost ready... and then LVNV shows on my report!!!!!!!!    I would appreciate any help from anyone who has fought them.  I need to know what to put in my letter... and to whom to send it.  On one of my CR's it shows like I took aout a loan fromLVNV!!? In 2011?!   It also says >CLA<  (not sure what that is yet) They keep raising the balance by 1$ each month.  The original debt from what I can remember usng old reports (Ilost a lot of papers when I moved) is about 6 years old.  Please, someone with a kind heart help me.  i have worked so hard to have this happen this late in the race.  This has been reporting since march.  I should not have delayed, but when I saw it, I broke down and gave up the fight. Well now I want to do something about it!

Thanks so much,

Jules

[DaBears]

Can you post the TL from your credit report? LVNV shoould not be listing it as a loan as you do not have an installment loan with them. When did they add the account to your credit reports? Have you sent a DV letter yet? 

[kjjkema]

I filed a complaint with the BBB, and LVNV deleted the TL from all three CRAs.  Took less than three weeks.  My FAKO scores have all gone up, but not to where the were before the LVNV thing.  I haven't updated on myFICO yet, though.

[Jcreditmeister]

Name:LNVNV FUNDING LLC    ACCT#XXXXXXXXXXXXXX                  Credit Limit: n/a                             date reported: 6/11/2013

Date opened:12/30/2011             Balance:$564                                          Past Due:$564                               Acct Status  (Blank)

Acct number  XXXXXXXXXXXX               Current status (Blank)

Account Owner:   Individual Account                                   High Credit $548

Type of Account:                           Open         Credit Limit N/A

That's exactly how it looked on my Equifax report...it is a bit different on my T/U report... with a Las vegas address and that one says:

Loan Type is Factoring Company Account and ahs the Origional Creditor on there.  It also sayds thet the Item will be removed in 2014

I certianly hope this helps.

[DaBears]

---

@jjujubejules wrote:

Name:LNVNV FUNDING LLC    ACCT#XXXXXXXXXXXXXX                  Credit Limit: n/a                             date reported: 6/11/2013

Date opened:12/30/2011             Balance:$564                                          Past Due:$564                               Acct Status  (Blank)

Acct number  XXXXXXXXXXXX               Current status (Blank)

Account Owner:   Individual Account                                   High Credit $548

Type of Account:                           Open         Credit Limit N/A

That's exactly how it looked on my Equifax report...it is a bit different on my T/U report... with a Las vegas address and that one says:

Loan Type is Factoring Company Account and ahs the Origional Creditor on there.  It also sayds thet the Item will be removed in 2014

I certianly hope this helps.

---

The TL you posted is reporting correctly on that report. When apping for a mortgage you will have disclose all unpaid debt. If this is your account I would offer a PFD. If that doesn't work your best option would be a PIF then send GW letters once payment has posted. PIF looks better on a manual review than a unpaid debt. The LO/underwriter might make you pay it or not even care about it. It's up to the lender. I just recently paid off all my unpaid debt and what a huge weight off my shoulders. 

DaBears

[Jcreditmeister]

Well... nothing is correct about me opening anything with anyone in 2011...  do yu think that is significant?  Or does taht not matter? Also, the amount for that card is all wrong...

[DaBears]

Date open is when they received the account. The high limit is what was given to them by the OC at the time of sale. If you disagree with they are reporting you can always send the CA a Direct Dispute letter. If you like I can post a templet of it for you and you can tweak it your liking.

[Jcreditmeister]

Oh, ok, thanks so much.  I appreciate your time

Jules

[DaBears]

“This is a Notice of Direct Dispute under the provisions of FCRA §623(a)(8)(D) and 16 CFR 660.4, of the accuracy of information you have reported to my credit file.

       ►       (If sent to a debt collector, (CA), it might  be beneficial to also include the blurb:

       ►  “This is a direct dispute of credit reporting. This is not a request for debt
              validation/verification  under FDCPA §809(b).”.
                  (don’t let them just simply sluff it off as a meaningless  DV letter)

(Provide the following requirements of the rules, as detailed under 16 CFR 660.4):

 “Identification of the specific information being disputed:
           (specify the account number, and the specific information that is disputed under

             that identifying account)

“Basis for the dispute:

            (how the reporting was inaccurate;    was any reporting in violation of any statutory or

             regulatory provisions?  account or express agreements?  CRA reporting gudelines? Account not

              yours? etc.)

“Supporting documentation:

            (all documents that support your dispute; it is recommended that you also send,

             as part of your documentation, at least a copy of the portion only of your

             recent credit report showing their reporting of the disputed information to your credit file.

Sincerely,