LVNV Funding - How to Remove From Your Credit Report
LVNV Funding is a purchaser of debt. They purchase debt both domestically and internationally.
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 will try and collect payment on an account for LVNV Funding. However Resurgent also outsources some of their accounts to other collection agencies.
Most typical accounts are credit cards and unsecured debt. If you have or are being contacted by LVNV it is concerning a 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 vital to know what is reported on your credit. You should also be aware that making a payment to LVNV will not help your credit. Your payment will not bind them to remove a negative mark from your credit report.
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.
If you have a mark from LVNV, the most effective method for removal is to dispute the listing. You will dispute the accuracy or validity of the listing. This is done by sending a dispute letter to the credit bureaus.
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.
Or you can hire a professional credit repair firm to dispute the listing on your behalf. I suggest if you only have one or two negative listings try disputing them yourself. If you have more negative listings then you should consider hiring a professional credit repair firm.
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