Gather up all the account numbers and the dates you paid, submit your dispute with the Better Business Bureau of South Carolina, be VERY detailed about everything, and make it clear what kind of destructive effect its having on your credit reports! Thats what I did, and it worked!

Patrick - would you mind PMing me the complaint you filed with the BBB? I desperately need to get them off my report!! I've paid and they're still reporting as an Open Account....ugh...

I have also experienced the same type of situation with TransUnion a few years back when I got my BK deleted, it dropped my TU score 50 points! But you know what? It was worth it in the end, it sounds like your credit union does risk based pricing when they gave you that rate, risk based pricing has to do with what tier you fall into, look below for an example!


750-893 2.99%
700-749 3.99%
650-699 4.99%
620-649 5.99%
580-619 6.99%

Risk based pricing is part of fair lending, now some credit unions and banks dont participate in this type of program, when I was rebuilding my credit and was shopping for the BEST rate, I would often call up multiple lenders, and ask them, what bureau do you use, and, do you participate in Risk Based Pricing, and are your rates score driven, most were, some were not, I found smaller banks and credit unions basically looked more a payments after something derogatory, instead of basing their decision off of credit score alone! And they would give the BEST rate off of the year of the vehicle and equity of the collateral.

Intersting...Guess we live and learn. Yes, I think our Credit Union participates in the risk based pricing. I saw the loan officer constantly referring to a chart. He was really surprised to see the score come in so low based on everything else on the report barring the medical collections. I have learned from using this board that 1 negative item can really affect a credit score.

I have also experienced the same type of situation with TransUnion a few years back when I got my BK deleted, it dropped my TU score 50 points! But you know what? It was worth it in the end, it sounds like your credit union does risk based pricing when they gave you that rate, risk based pricing has to do with what tier you fall into, look below for an example!


750-893 2.99%
700-749 3.99%
650-699 4.99%
620-649 5.99%
580-619 6.99%

Risk based pricing is part of fair lending, now some credit unions and banks dont participate in this type of program, when I was rebuilding my credit and was shopping for the BEST rate, I would often call up multiple lenders, and ask them, what bureau do you use, and, do you participate in Risk Based Pricing, and are your rates score driven, most were, some were not, I found smaller banks and credit unions basically looked more a payments after something derogatory, instead of basing their decision off of credit score alone! And they would give the BEST rate off of the year of the vehicle and equity of the collateral.

Yeah... you were removed from the BK FICO Group and reassigned to the non BK group. Then your score was coming in at a lower level in the group. Time brought it up! For me, my BK dropped last July after 10 years and my score increased from 60 to 100 points depending on the bureau. Fortunately, I had developed a deep 10 year credit report and it carried me through the transition from the BK Group to the regular non BK group. If my memory serves me, there are somewhere between 10 to 13 levels. Also, we are not given accss to what FICO level we are on nor make requests for level changes.

I have also experienced the same type of situation with TransUnion a few years back when I got my BK deleted, it dropped my TU score 50 points! But you know what? It was worth it in the end, it sounds like your credit union does risk based pricing when they gave you that rate, risk based pricing has to do with what tier you fall into, look below for an example!


750-893 2.99%
700-749 3.99%
650-699 4.99%
620-649 5.99%
580-619 6.99%

Risk based pricing is part of fair lending, now some credit unions and banks dont participate in this type of program, when I was rebuilding my credit and was shopping for the BEST rate, I would often call up multiple lenders, and ask them, what bureau do you use, and, do you participate in Risk Based Pricing, and are your rates score driven, most were, some were not, I found smaller banks and credit unions basically looked more a payments after something derogatory, instead of basing their decision off of credit score alone! And they would give the BEST rate off of the year of the vehicle and equity of the collateral.

Just to caution some people on here. Collection accounts have an impact the first 3 - 4 years, after that, they actually begin reporting as POSITIVE credit, as the scoring logirythm begins to pick up that account as an open tradeline. Having the item removed from your credit at 5 or 6 years could actually make a negative impact on your credit. There are also some variables here as to when the clock begins aging. Any last activity on your file constitues as the last activity date upon which begins the clock. Therefore, never, ever pay a collection agency, they are a middleman that can not help you, but only hurt you. Send every collection agency a Cease and Desist letter, certified mail, return receipt, then follow up by disputing it with the credit bureaus. Also, any payments made to a collection agency automatically resets the clock for 7 years from the day they post your payment. This is reason enough for you to not deal with the agency and deal directly with the creditor/lender.
The Cease and Desist letter is your ultimate weapon from keeping the item from ever being reported to your credit, provided that you send that to them within the initial 30 days of their first mailed correspondence to you. If this law is violated (FDCPA) 15 USC §1692c(c), they can be held for damages of $1000 per violation. If you've applied for credit and you've been denied, then you can also file for damages under FCRA and also for punitive damages. When sending this, you need to track and date everything (dates, mailings, phone calls, names, etc..) should you want to pursue the matter in court.

You nailed this one Garry, Just checked my husband's score on Credit Karma and low and behold another negative account was removed so that leaves two on Trasunion. The problem is his score fell by 10 points.

Just to caution some people on here. Collection accounts have an impact the first 3 - 4 years, after that, they actually begin reporting as POSITIVE credit, as the scoring logirythm begins to pick up that account as an open tradeline. Having the item removed from your credit at 5 or 6 years could actually make a negative impact on your credit. There are also some variables here as to when the clock begins aging. Any last activity on your file constitues as the last activity date upon which begins the clock. Therefore, never, ever pay a collection agency, they are a middleman that can not help you, but only hurt you. Send every collection agency a Cease and Desist letter, certified mail, return receipt, then follow up by disputing it with the credit bureaus. Also, any payments made to a collection agency automatically resets the clock for 7 years from the day they post your payment. This is reason enough for you to not deal with the agency and deal directly with the creditor/lender.
The Cease and Desist letter is your ultimate weapon from keeping the item from ever being reported to your credit, provided that you send that to them within the initial 30 days of their first mailed correspondence to you. If this law is violated (FDCPA) 15 USC §1692c(c), they can be held for damages of $1000 per violation. If you've applied for credit and you've been denied, then you can also file for damages under FCRA and also for punitive damages. When sending this, you need to track and date everything (dates, mailings, phone calls, names, etc..) should you want to pursue the matter in court.

Garry,

I made the mistake of paying these collections without getting them validated. We were in a pinch and in the middle of financing a much needed vehicle deal, as our family outgrew our minivan when I had my daughter a few months back. When the credit union pull the report we foulnd out about a collection that had just been reported a few months ago. However, it dated back to 2009. The loan officer at the credit union wanted us to pay it off and assured us we would be able to get it deleted. They approved my husband's application based on his history with the credit union which was stellar. In fact, the previous loan had been paid off early. However, they stuck us with a higher interest rates because of the collections affect on his credit score. They said to get the score up and come back and they would refinance us. However, the collection agency will not budge on deleting this information from my husband's credit report. I have disputed 2 times with equifax online, the last time I mailed them a copy of the letter that the collection agency signed agreeing to update the information. The word "update" is ambigious, so I am not sure they will delete it. I wish I would have chatted with you before I made that very bad decision. I still do not know what the charges were for. I seem to be in a catch 22 situation. Pay them and get stuck with it on your report, or dispute it and possibly get it removed. I try to be an ethical person. I think I may have restarted the clock. Also, can I get a copy of the Cease and Desist letter that you referred to in your post. I joined the forum for help and I am open to good sound, tried and proven advice. Thanks!

Just to caution some people on here. Collection accounts have an impact the first 3 - 4 years, after that, they actually begin reporting as POSITIVE credit, as the scoring logirythm begins to pick up that account as an open tradeline. Having the item removed from your credit at 5 or 6 years could actually make a negative impact on your credit. There are also some variables here as to when the clock begins aging. Any last activity on your file constitues as the last activity date upon which begins the clock. Therefore, never, ever pay a collection agency, they are a middleman that can not help you, but only hurt you. Send every collection agency a Cease and Desist letter, certified mail, return receipt, then follow up by disputing it with the credit bureaus. Also, any payments made to a collection agency automatically resets the clock for 7 years from the day they post your payment. This is reason enough for you to not deal with the agency and deal directly with the creditor/lender.
The Cease and Desist letter is your ultimate weapon from keeping the item from ever being reported to your credit, provided that you send that to them within the initial 30 days of their first mailed correspondence to you. If this law is violated (FDCPA) 15 USC §1692c(c), they can be held for damages of $1000 per violation. If you've applied for credit and you've been denied, then you can also file for damages under FCRA and also for punitive damages. When sending this, you need to track and date everything (dates, mailings, phone calls, names, etc..) should you want to pursue the matter in court.

Gather up all the account numbers and the dates you paid, submit your dispute with the Better Business Bureau of South Carolina, be VERY detailed about everything, and make it clear what kind of destructive effect its having on your credit reports! Thats what I did, and it worked!

Sorry about the way it was copied and pasted! UGH! Any who, they have agreed to delete all the trade lines from my credit reports and stop bothering me! Looks like the Better Business Bureau is the only way to stop these pests!

Happy for you! Great information. How did you get them to agree with a pay for delete? Tried that on my husband's medical collections, I paid in full and they refused to delete them. I had to pay without validating because of a pending car deal with the credit union. You seem pretty savvy with these types of scenarios. What would you recommend I do to get these last collections gone. Best place on the web for advice! Thank you in advance.

Sorry about the way it was copied and pasted! UGH! Any who, they have agreed to delete all the trade lines from my credit reports and stop bothering me! Looks like the Better Business Bureau is the only way to stop these pests!

Better Business Bureau of Upstate South Carolina
408 North Church Street, Suite C
Greenville, SC 29601-2164
Phone: (864)242-5052 | Fax: (864)271-9802
This email address is being protected from spambots. You need JavaScript enabled to view it.

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[/HR]MESSAGE FROM BUSINESS]

May 3, 2012
Linda J. Bentley
408 N. Church St. Suite C
Greenville, SC 29601-2164
RE: Patrick 12; Case/File No. 9007328 Reference Numbers: 469349816 & 471755328

Dear Ms. Bentley:

This letter is in response to your correspondence dated April 26, 2012 regarding the referenced consumer. LVNV Funding LLC (“LVNV”) owns two accounts for Patrick 12. Resurgent Capital Services L.P. (“Resurgent”) is the master servicer of accounts owned by LVNV. Please review the following account information:

Account No.5178007392010112 Reference No. 469349816 Previous Creditor]Arrow

1. Arrow Financial Services, LLC (“Arrow”) advised that this account originated on October 16, 2005 and was opened with First Premier.
2. This account charged off on August 30, 2006.
3. This account was purchased from Arrow on September 23, 2011 with a balance of $547.79
4. A payment totaling $250.00 was received on February 1, 2012.
5. The current balance of this account is $0.00.
6. This account was closed as settled in full on February 1, 2012.

Account No.4317320072026612 Reference No. 471755328 Previous Creditor]advised that this account originated on December 27, 2004 and was opened with Plains Commerce Bank.

1. This account charged off on September 30, 2005.
2. This account was purchased from Arrow on September 23, 2011 with a balance of $268.19.
3. A payment totaling $82.34 was received on February 1, 2012.
4. The current balance of this account is $0.00.
5. This account was closed as settled in full on February 1, 2012.

Please be advised a request to delete the LVNV tradelines was previously submitted for these accounts. Please allow 30-45 days for the updates to occur. We apologize for any inconvenience this matter may have caused Mr. Sparkman.
If we do not receive additional information from you within 45 days of the date this letter is received, then we will assume this dispute is resolved. If you have any further questions, comments or concerns, please contact Customer Service at 888-665-0374.P. Holladay
Compliance Department
Resurgent Capital Services L.P.

The reason why anyone should fight back is very simple, its unfair and unethical, not to mention the fact, most not all, but most creditors will soft pull your credit reports periodically for any kind of change to your credit reports, obviously if your report is great you will reap the benefits of an APR reduction or perhaps an increase in your credit line, however, it can go the opposite just as easily, now that my score has fallen substantially, I could face increases in higher APRs and reductions in credit limits, which in return will lower my utilization and drag my scores down even further, or worse, close my accounts all together! Credit monitoring is a wonderful tool, its keeps you in the know, and keeps things like this from going on without you knowing right away! I admit, I have made my fair share of past financial mistakes, and I have paid dearly for everyone of them, but I wont let anyone take my hard work away from me! Always be aware and always stay a step ahead if you can! Bullies only go after weak people, strong people go after the bully!

I have also filed a complaint with the BBB of South Carolina, I sent in a laundry list of things I have done well with in my rights to stop these people and they wont cooperate! What I find interesting is that Resurgent Capital who owns LVNV has an A+ rating with the BBB, maybe this will finally wake these people up! I have credit monitoring for reasons just like this! They prey on consumers, hoping they are ignorant or just dont care so they can pull this kind of under handed stuff! Well before its all said and done they will know more about me than just my name and address, this time its personal!

It sucks you have to go through this with these scumbags. I hope you contact the Federal Trade Commission also. The sad thing is as soon as they get in a little trouble. The parent company will just close LVNV and open a different company. So they can keep a clean image. It's to bad you can't direct your complaint against Resurgent Capital and drag they're A+ rating down! As they've allowed LVNV to do to you. Whatever you do I hope those scumbags get the justice they deserve!

I have also filed a complaint with the BBB of South Carolina, I sent in a laundry list of things I have done well with in my rights to stop these people and they wont cooperate! What I find interesting is that Resurgent Capital who owns LVNV has an A+ rating with the BBB, maybe this will finally wake these people up! I have credit monitoring for reasons just like this! They prey on consumers, hoping they are ignorant or just dont care so they can pull this kind of under handed stuff! Well before its all said and done they will know more about me than just my name and address, this time its personal!

Finally someone has enough guts to stand up to these people. I hope you take them for all their worth.