LVNV Funding

[quirkypixie]

We have a charge off from Sears, which was sold to LVNV funding. It should have reached the magical 7 years and fallen off our report. However, they show it starting in 2006.......so I have a verification letter all ready to go. I am sending it certified and all that good stuff.

Reading other places online, I hear they are one of the worst companies to deal with....any recommendations? I am very worried that they will try to sue (even though California's SOL is 4 years, and we are way past that)

[94B]

Originally Posted by quirkypixie

We have a charge off from Sears, which was sold to LVNV funding. It should have reached the magical 7 years and fallen off our report. However, they show it starting in 2006.......so I have a verification letter all ready to go. I am sending it certified and all that good stuff.

Well....2006 could mean date opened, date of status or date last reported. Those dates don't have anything to do with the reporting SOL which starts from the DOFD(date of first delinquency) from the OC. Do you know what that date is?? Was Sears ever reported on your credit report?

Originally Posted by quirkypixie

Reading other places online, I hear they are one of the worst companies to deal with....any recommendations? I am very worried that they will try to sue (even though California's SOL is 4 years, and we are way past that)

Recommendations as far as what? Have you ever been contacted by LVNV? If so how did you respond??

From what you stated in your post the California SOL for collections is four years and you are passed it. That means if they tried to sue you, you'd show up in court(very important) and tell the judge the SOL had expired(affirmative defense).

Your best bet is to read up on your State laws(I believe it's called Rosenthal laws). It's always a good idea to be prepared instead of worrying about whether or not you'll be sued because if they want to sue they will.

[quirkypixie]

To tell you the truth, this is my first look at hubby's credit report in a very long time (5 years or more)........Sears is not showing up on the report now, and I am not sure if it ever did.
If I remember correctly the first time he went delinquent on that card was in 2000.......and I am sure it is past the 7 year point.

We have not been contacted, but have recently been turned down for a loan. So I am attempting to clean his CR up.....and noticed this was still on there.

I am just worried that by sending a verification letter, I am opening a can of worms with them. I have read on on other boards that they have attempted this after the SOL was up.

[94B]

Originally Posted by quirkypixie

To tell you the truth, this is my first look at hubby's credit report in a very long time (5 years or more)........Sears is not showing up on the report now, and I am not sure if it ever did.
If I remember correctly the first time he went delinquent on that card was in 2000.......and I am sure it is past the 7 year point.

We have not been contacted, but have recently been turned down for a loan. So I am attempting to clean his CR up.....and noticed this was still on there.

I am just worried that by sending a verification letter, I am opening a can of worms with them. I have read on on other boards that they have attempted this after the SOL was up.

If you believe it's past the 7 years, then dispute the tradeline with the CRA's as obsolete.

If they do sue and yeah CA/JDB's have been known to that, then you have what's called affirmative defense on your side. The legal SOL has expired, end of story but the important thing is to show up to court and assert that if you're sued. CA/JDB's most often win by default meaning that the people that they sue don't show up/answer summons.