I had a CO for a BOA Visa back in 2005. It was sold to LVNV funding and I settled with them back in December. It reports every month as a CO still on my TU and EQ reports and I fear that this report of a CO every month is either hurting my credit score or not allowing it to improve like my EX score is. They stopped reporting in December to EX. It just has one final CO and in each of the reports it has a 0 balance and in the comments says Settled for less than full amount.
So on to the meat of the issue, I called LVNV funding to seed why they continue to report and if they could just stop reporting now and was told that they would report to the CRA's every month until 2011 when it will fall off as required by law. Now, no other CA reported after I had paid except to update the report to say it was paid (didn't know about GW letters until this forum, so they weren't deleted, although I have disputed some of them away), so I asked her what law said this because none of the other companies seem to be following this law. She couldn't tell me this statute, but again just said that they will report until 2011 as required by law. I then had a few choice words to say to her and hung up.
So, is this legal? Can they report every month? What should I do? Anyone here a lawyer in the state of Nevada? I feel like I'm getting punished for not paying in full.
Message Edited by heirophant on
05-22-2008 07:31 PMMessage Edited by heirophant on
05-22-2008 07:32 PM
Scores: TU (FICO8): 781, EQ (FICO8): 798, EX (FICO8): 788
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