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WESPITMAN

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Magical Charge-offs
I recently paid off all collections. Now I received two letters for more accounts that were from LVNV and now with another company. One is not even on my reports. How did this happen?

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I dare you to Google LVNV

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When you Google LVNV, the first thing you see is a civil lawsuit against them for bad debt practices on extremely old debts.  So it's likely that it could be an uncollectable old debt sold as a result of their recent dump of debt papers – this is common in cases like this because they can’t perform their normal collection practices of threatening law suits on these old debts with a litigation inspired investigation pending, so they sell them to anyone else willing to attempt collection, DIRT CHEAP! 

You have 30 days to respond with a debt validation letter of dispute.  I suggest you take it and request full validation of the debt, its date of last payment, signed contract with the original creditor proving the debt is yours, payment history with copies of checks, dates additional charges were added, copy of debt transfers with actual notary seals, and anything else I could think of to dispute the alleged debt.  Then tell them you want 30 days to review their response. 

If you find the item is past your state's statute of limitations (as the civil lawsuit suggests) you can simply advise them to cease and desist and they can’t do anything to you.

If you find the debt is valid and it’s collectable by law, you already know it was sold to them DIRT CHEAP, so you can negotiate a really good deal. 

Of course everything I said above needs to be in writing and I suggest you tell them to ONLY contact you in writing or they may start collection calls and other annoying things.  Remember that you have a TON of rights when being told you owe a debt and the burden of proof is on them.

I hope this helps, if it does Thumbs up.

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LVNV is actually what is politely known as a 'junk debt' buyer.  They buy debts that are close to, or even past, the statute of limitations for collections (which varies in every state) and then try to collect the full amount.  If none of these debts is active on one of the three regular credit reports (annualcreditreport.com) then send the collectors a letter demanding verification of debt and this must be done within 30 days from the date they receive the letter.  Send the letters "certified, return receipt requested' and keep that returned card safely stashed until they reply.  Likely they won't or they may send a computer print-out which they know doesn't meet the requirement.  No proper verification means they cannot attempt to collect.

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