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Next Challenge: LVNV and Portfolio Recovery TL for charged-off credit cards


obsoleet
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So after a years worth of great advice through these forums, I have been able to rectify many issues that came up in previous years.  I do have two issues that remain and I wanted to know the best route to go about handling them.

 

I have two credit cards TLs that show up as CHARGE-OFF and two JDB's reporting the debt (one debt is almost doubled by the JDB LVNV).  The OC and its related collection JDB are the following:

 

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OC:

 

HSBC BANK --- Date opened: 05/10/2008 --- Balance: $0 --- Date Reported: 07/10/2012 --- Status:CHARGE-OFF

Credit Limit: $300  --- High Credit: $661 --- Date of First Delinquency: 06/2009 --- Date first major delinquency reported: 12/2009

Account Type: Revolving  ---  Type of Loan: Credit Card

 

JDB:

 

Portfolio Recovery --- Date opened: 06/22/2010 --- Balance: $662 --- Date Reported: 04/05/2013 --- Status:COLLECTION ACCOUNT

Past Due: $662 --- Date of First Delinquency: 06/2009 --- Date first major delinquency reported: 08/2010

Account Type: Open  --- Type of Loan: Factoring Company Account (debt buyer)

 

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OC:

 

CREDIT ONE BANK --- Date opened: 01/30/2007 --- Balance: $0 --- Date Reported: 06/30/2012 --- Status:CHARGE-OFF

Credit Limit: $500  --- High Credit: N/A --- Date of First Delinquency: 05/2009 --- Date first major delinquency reported: 11/2009

Account Type: Revolving  ---  Type of Loan: Credit Card

 

 

JDB:

LVNV FUNDING LLC --- Date opened:12/10/2009 --- Balance: $1760 --- Date Reported: 04/22/2013 --- Status:COLLECTION ACCOUNT

Past Due: $1760 --- High Credit: $1052 --- Date of First Delinquency: 05/2009 --- Date first major delinquency reported: 02/2010

Account Type: Open  --- Type of Loan: Factoring Company Account (debt buyer) --- Creditor Classification: Financial

 

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I've disputed with the CRA's as 'not mine' back in April of 2012 and they came back as verified.  What would be the next approach I should take which would have the best result to my credit score?

 

I also want to mention that I have the money to pay them both in full if necessary but if there is another route which has a better effect on my overall credit I would prefer to take that route.  Thank you very much for any assistance you can provide!

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I would try the 623 method on all of these debt and see what happens.  If you can't get them off, then I would try a pay for delete to at least get the collections off of your credit report.  

 

Someone else had also advised filing a complaint with FTC and BBB against LVNV for no dunning letter (i never received one).  Would you recommend this as well?

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Someone else had also advised filing a complaint with FTC and BBB against LVNV for no dunning letter (i never received one).  Would you recommend this as well?

 

@obsoleet

 

LVNV did not have to send a dunning letter.  I know of no law that requires them to do so.

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I would try the 623 method on all of these debt and see what happens.  If you can't get them off, then I would try a pay for delete to at least get the collections off of your credit report.  

 

Would I send a 623 letter to the OC or the JDB or both?  I disputed both with the CRA's and both came back verified

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  • 3 weeks later...

@obsoleet - JDB. 

 

Make sure you read the whole article, first, though.  

 

Should I use a DV attempt first or just go straight 623?

 

Also, I noticed that the FDCPA states:

"

§ 808.  Unfair practices [15 USC 1692f]

A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:

(1) The collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.

"

 

LVNV has been increasing the debt every month.... does this constitute a violation for the state of maryland?

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Should I use a DV attempt first or just go straight 623?

 

LVNV has been increasing the debt every month.... does this constitute a violation for the state of maryland?

It's possible.  The state has laws for what you can charge as far as interest.  Also, you'd have to dig up a copy of the agreement and that could get tricky.  But worth a try.  

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  • 2 weeks later...

It's possible.  The state has laws for what you can charge as far as interest.  Also, you'd have to dig up a copy of the agreement and that could get tricky.  But worth a try.  

 

 

As per my next route... do i need to do a DV letter before I send a 623 letter?  Or can I just send a 623 after i've disputed with the CRAs

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