thegame26 Posted March 8, 2007 Report Share Posted March 8, 2007 I've heard that a debt collector must have a validation of debt in hand to be able to report it the credit bureaus, is that true?The company I'm dealing with LVNV, 'assigned' the debt to another company and for a 4-6 month period and the other company was collecting. During this period did LVNV lose the ability to report to the credit burueas and/or add interest to the alleged debt? Link to comment Share on other sites More sharing options...
willingtocope Posted March 8, 2007 Report Share Posted March 8, 2007 I've heard that a debt collector must have a validation of debt in hand to be able to report it the credit bureaus, is that true?No, not really. If you ask for DV before they report, then it probably would be a violation of the FDCPA for them to report...but, if they get there first, no.The company I'm dealing with LVNV, 'assigned' the debt to another company and for a 4-6 month period and the other company was collecting. During this period did LVNV lose the ability to report to the credit burueas and/or add interest to the alleged debt?Depends on which definition of "assigned" applies. If the OC "assigned" the debt...as in sold the debt...to LVNV...then both the OC and LVNV can be on your reports. And, if your agreement with the OC permitted it, LVNV can charge interest.Similarly, if LVNV assigned a CA...as in contracted with...to collect from you, then the CA can be on your reports also.For that matter if the OC contracted with LVNV and they in turn contracted with a CA in your state...you could wind up with all 3 that way. Link to comment Share on other sites More sharing options...
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