TU Utilization Factors in Balance from Installment Loan Collection?

[TenaciousRebuilder]

Yes. I looked again and they are definitely listing as a factoring company - the status says "in collection".  I just read about these and factoring companies, I think, are supposed to purchase the debt BEFORE it goes bad. In my CR's the status for the account with the OC is charged off. Furthermore, the open date for LVNV is almost a year after reaching 180 days late w/ the OC - after the charge off.

I'm going off of the myfico information but I will double check with a printout of an annualcreditreport from TU.

[TenaciousRebuilder]

WOW! I haven't checked the printout yet but if you search for LVNV and FACTORING COMPANY, let's just say there are a lot of discussions that pop up both here and on other sites.

[Anonymous]

There is no violation of them reporting as a factoring company.  The CRAs consider them to be debt buyers.  It seems when they use that code it may give them access to more areas that coded as a 3rd party CA doesn't have.

A 3rd party CA can't even post lates because they do not have the capability to do so.  I would need to dig further as I am not sure about a factoring company.

At any rate, a CA is not ever supposed to include things from the OC account that appears to be done frequently.

The FTC also considers a factoring company to be a junk debt buyer and they must adhere to the FDCPA.  Whether they do that or not is another story.