ID Theft

Credit Report LVNV?

I've seen all these postings about LVNV and I don't know how to begin. I checked my credit reports and they all list a debt to LVNV for a collection from a Sears account. The strange thing is that I opened two Sears accounts in the past and have one in current repayment. The two Sears accounts currently appear in my positive, never late section and the one in current repayment is listed nowhere in my reports. It has never been late and the account number in no way matches the one LVNV is stating as part of the collection. Do I dispute this as ID theft to LVNV or forego speaking to LVNV further? I am confused.

Public Comments

1. What I would do is just do an online dispute with the credit bureaus to see if the account is removed. If it is verified then the details of the account should be made know to you on the dispute results that the credit bureaus will send to you. You can find out about the credit repair process in the following web site: http://www.creditinfocenter.com/repair/Repair.shtml
2. Collectors usually place their own internal account numbers on the credit reports instead of the original creditor account number. If you defaulted on both accounts and Sears sold one or both accounts to collectors such as LVNV, then Sears would report a zero balance. With a zero balance reporting it could kick the defaulted Sears accounts over to the positive side of your credit report. The negative remarks concerning the accounts should still be reporting, such as charge off,etc. If you only one you defaulted on is the one account that you are in repayment on, there may be some reason or possibly through a mistake, where it was turned over to LVNV. You might contact Sears first to get verification on one or both accounts before you send a debt validation letter to LVNV and/or dispute with the CRA's.
3. This agency is one of the most notorious junk debt collection agencies. You should send them a certified/return receipt letter requesting verification of the debt. They will most likely ignore the request or just sell it to another agency. (January 23, 2008) Be advised that LVNV Funding, through Wolpoff & Abramson are filing suits on ‘time barred debts.’ Their collectors are telling consumers that a minimum payment (usually from $20-$50) was made, which restarted the statutes. The portfolio they are using dates back to the 90s, which means a LOT of debts are too old to be sued on. Be careful NOT to fall for this scam, it is an illegal method to take monies they may not be entitled to, especially for Texas residents. Here is a link to find out more about them and what to do. http://www.budhibbs.com/debtcollectorpages/alegis_corp.htm LEGAL DISCLAIMER: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice.
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