Jump to content

What does 'FWD Creditor' mean in a collections letter?


VLDCA
 Share

Recommended Posts

I have received a letter from Monarch Recovery Management on a Credit One Bank acct. for $800, In the Account Information it says;

Fwd Creditor: Credit One Bank & then above that it says

Creditor: LVNV Funding LLC.

Does this mean it is now in a 3rd parties hands? Was LVNV Funding the original JDB?

Any idea on how I should handle this? SOL is up 12/2012.

Link to comment
Share on other sites

I have received a letter from Monarch Recovery Management on a Credit One Bank acct. for $800, In the Account Information it says;

Fwd Creditor: Credit One Bank & then above that it says

Creditor: LVNV Funding LLC.

Does this mean it is now in a 3rd parties hands? Was LVNV Funding the original JDB?

Any idea on how I should handle this? SOL is up 12/2012.

Check your credit report to see what Credit One is reporting. LVNV usually purchases debts, but they could also collect for an OC. Also, see if and what LVNV is reporting. If LVNV did purchase the debt, Monarch could be could merely be collecting for LVNV.

In any case, I'd DV Monarch.

Link to comment
Share on other sites

I chked my report all I see it Credit One. The other 2 aren't on there, not even a pull.

Thanks a bunch for responding so quickly! :D

You're welcome. Since the letter states the "creditor" is LVNV, it would appear Monarch is collecting for them. Credit One's entry on your CR should state that the account was "sold/transferred" or "transferred to another lender"...somethiing like that.

Link to comment
Share on other sites

How can I find out if Credit One sold it?

You could contact Credit One and ask them the status of the debt...if they still own it, or if they sold it.

When was the last time Credit One updated their entry? If they haven't updated recently, then they probably sold it.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.