ImaBird Posted February 24, 2008 Report Posted February 24, 2008 Would it be more effective to send a settlement offer to Sears, or LVNV Funding (the debt assignee)?
NASCAR_Devil Posted February 24, 2008 Report Posted February 24, 2008 Would it be more effective to send a settlement offer to Sears, or LVNV Funding (the debt assignee)?If Sears still owns the account it's always better to deal with the OC.
Debt Guy Posted February 24, 2008 Report Posted February 24, 2008 ND is correct that it is always better to deal with the OC if you can.However, LVNV is not a 3rd party collection agency. They are a debt buyer. I have never known LVNV to collect for anyone else. If that is the case, LVNV has sole and exclusive right to the debt and Sears no longer has a vote.You can find out easily enough. Call Sears and ask. They will tell you if the debt is sold and to whom.
sparky256DSL Posted February 25, 2008 Report Posted February 25, 2008 My girlfriend has a debt with LVNV and when she called to try and settle they told her they would have to check with their client (Sears) and get back to her. They waited a few hours and said Sear's did not accept the offer. This debt is like 4 years old and has been written off according to the CRAs.... I think they are probably just lying trying to make it sound like they have no authority to settle.
Debt Guy Posted February 25, 2008 Report Posted February 25, 2008 sparkyIt is easy enough to find out. Call Sears and ask. They won't bite.My guess is that you are right but I really would like to know.Technically, if LVNV lied to you, you have them on an FDCPA violation.
sparky256DSL Posted February 25, 2008 Report Posted February 25, 2008 It was over the phone. My word against theirs, not sure it would be worth the effort. I'll have my girlfriend call Sears and see what they say. Her CR says it was charged off/transfered.
ImaBird Posted February 26, 2008 Author Report Posted February 26, 2008 I'm going to call Sears, too and find out. If I find out first, I'll post.So, if LVNV bought the debt, can they still have a TL showing the balance?
ImaBird Posted February 26, 2008 Author Report Posted February 26, 2008 LVNV is assigned by Sears. Sears still owns the debt...
credit crunched Posted February 27, 2008 Report Posted February 27, 2008 Birdy; Read the sticky on LVNV in the collections section. Sears is CitiBank,they sell most of their bad paper to LVNV. They in turn muck up your creditreport by reporting as an O.C. Take these guys very seriously, as theirintentions are to do as much damage to your score as possible. When I bought my score from MyFico.Com the accompanying report showed a recent late as hurting my score most, The bogus tradeline under Installmentaccounts was LVNV. I don't know about anybody else, but these jokers are becomming my white whale.
ImaBird Posted February 28, 2008 Author Report Posted February 28, 2008 Has ANYONE defeated them?I'm actually starting to have luck w/ Asset Acceptance... but LVNV is also my white whale... not to mention Verizon... ugh.Thanks for the advice!
credit crunched Posted February 28, 2008 Report Posted February 28, 2008 Sure they have. With the right amount of pressure they all fold like a card table. I had to laugh because I also have a verizon that won't play ball. I mostly visit this site to read, but it's such a solitary endeavour that postingactually makes me feel less isolated, it kinda reenergizes ya.
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