department of credit research

LVNV Funding is an international and domestic collection agency. They buy debt and collect on it.

They purchase debt from finance companies, banks and other collection agencies. Then outsource the actual collections of an account to a number of agencies primarily Resurgent Capital Services.

Resurgent performs the collections on behalf of LVNV Funding. However Resurgent outsources their collection work to other collection agencies.

Accounts collected upon are often credit cards and other forms of unsecured debt. If LVNV is contacting you it is regarding a delinquent debt.

LVNV Funding uses credit reporting. So they can create a negative mark if they are unable to collect payment from you. They also can turn around and sell your account to another debt collector.

So if you have had a credit card that was charged off, it could be multiple negative listings. You could have one negative mark from the credit card issuer, another negative mark from LVNV Funding and another negative mark if they sold your account to another collection agency.

This is why it is important to learn what is really shown on your credit report. You should know that just paying a bill from LVNV or any collection agency does not mean that they have to remove a negative mark from your credit report. So you can pay the bill and receive no benefit to your credit score.

LVNV will not be able to delete any other negative mark regarding the delinquent debt that they did not create. In other words they will not be able to remove a mark created by the lender. I suggest getting in writing that the negative mark will be removed in exchange for your payment.

The best way to remove a mark from LVNV from your credit is to dispute the listing. This is done by sending a credit repair letter to the credit bureaus directly. In this letter you give the account details and explain why the account is invalid or inaccurate.

Then the credit bureaus must investigate the listing. Expect some resistance from the credit bureaus you may need to mail the same letter two or three times.

Another option is to hire a professional credit repair service. They will dispute your negative marks on your behalf. I suggest using a credit repair letter if you only have one of two negative marks. If you have many negative marks then you should consider hiring a credit repair service.

Tags: bad credit
Filed under: bad credit