LVNV Funding

[Anonymous]

Listed on TU as "Factoring Company Account". I think this is for my Sears card, it's for the same amount.

However, it is listed as a regular account, not a collection account. I don't want to say it's being listed twice because then they're going to say, "Actually, it's just listed wrong, here's another Collection Agency to put on your report and a decrease in your credit score, thank you for calling, please come again".

Sears says 'purchased by another lender'.

What should I do?

[Schoolbuskid]

So you have LVNV reporting on an account they bought from sears and its reporting as a "factoring company"? Sear is also reporting with the comments "purchased by another lender"?

Is sears reporting with a zero balance?

Is LVNV updating the account with any lates etc?

I wouldnt worry about it not being listed under the collections section, either way its a bad account. So having it listed as a collections account i dont think would matter!

Good Luck!

[Anonymous]

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@Schoolbuskid wrote:

So you have LVNV reporting on an account they bought from sears and its reporting as a "factoring company"? Sear is also reporting with the comments "purchased by another lender"?

 CORRECT

Is sears reporting with a zero balance?

 YES

Is LVNV updating the account with any lates etc?

 "CURRENT STATUS 120 PAST DUE" BUT COMMENTS SAY PAID LESS THAN FULL

I wouldnt worry about it not being listed under the collections section, either way its a bad account. So having it listed as a collections account i dont think would matter!

Good Luck!

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So leave it alone basically.  I think you're right.

[Anonymous]

 The info above is incoorect , what they are doing is a violation , this IS a collection account and what they are doing by listing it as "Other" and claiming to be a factoring company makes it appear as if they loaned you money

 The reason they do this is so the $?,???.?? you owe them is factored in to your debt to credit ratio thus lowering your score much more than a CA account would ....google them they are known for crap like this