Need help with LVNV Funding and debt settlement?

	Need help with LVNV Funding and debt settlement? Ok, a long time ago my husband and I both lost our jobs and we lived off credit cards for 3 months. It took us months to find new jobs and a couple of years to actually be back on our feet. Six months ago I started going over my credit report and slowly paying off old creditors. Most have "settled" Now here's the problem: The last two debts, I've never had any collection letters from offering to settle. I don't know if they never found my current address like the others did or what. They are with Enhanced Recovery Company LLC and LVNV Funding LLC. I started looking for the companies and found that they have really been screwing people over. Taking them to court for amounts higher than the original debt, harassing them, etc. The "statute of limitations" has run out, so they can't sue me, but it's still on my credit report and I'd honestly like to try to settle. If I call them to talk to them though, it resets the clock on the statute and they can sue me. Now I'm scared to call. It will be another 3-5 years before it drops from my credit if it ever does. Advice please? http://www.debtconsolidationcare.com/letters/pay-for-delete.html I found this letter. Are these acceptable alternatives? Asked By: Bttrflykiss - 2/27/2012

Best Answer - Chosen by Asker
Do not waste your time with form letters you find on various "credit expert" sites. Most are just full of bad info and will do more harm than good. Collection agencies tend to ignore them. In any case, there is no way you can get a pay for delete for charged off credit card accounts. Collection agencies can only remove what they report. The original creditors charge off (which is the serious negative) will remain. In fact, if the collection agency accepted your pay for delete, they would remove their entry, including the paid part, and leave only the original creditor's charge off. Follow CatDad's advice. LVNF is not a pleasant company to deal with. If the Statute of Limitation (SOL) is actually passed, you may not want to open up a can of worms with these guys. Make sure that you understand the the SOL is the timeframe to bring lawsuit. Typically the SOL starts from the date of last activity or last payment. Making a payment can restart the SOL. In some states, acknowledging the debt can also restart the SOL -- but that acknowledgment is generally a lot more than a phone call asking about the debt. If you really want to settle this debt, even tho it is beyond the SOL, send a letter using your own words. Keep in clear and simple. Indicate that you are not acknowledging the debt but exploring settlement options. You should be able to settle for 10?r less in a lump sum as this is beyond the SOL. They probably would be thrilled to accept a 10?ffer. Make sure you get the settlement agreement in writing before you pay anything. Keep that agreement along with your payment proof forever. Do not give the collection agency direct access to your bank account. Pay with a money order or cashier's check. Answered By: bdancer222 - 2/27/2012

Additional Answers ()

If the SOL has expired, you'd be better off doing nothing and letting this debt fall off naturally. Debts come off by themselves in 7 years, from the original date of default. - Paying charge offs really does not help your credit and it will not undo the damage to your credit. You need to understand that even if you do settle these accounts, they will STILL be listed on your credit report as an R9 Charge Off status, with the only difference that the account is updated to Paid with a $0 balance....a tiny bit better but still bad. This will remain for whatever is left of the 7 year cycle for reporting bad credit. - LVNV is an aggressive debt collector and they might respond to your renewing contact with them in a very unpleasant manner. By acknowledging a debt or agreeing to pay, you can reset the SOL and they can turn right around and sue you....and that would be about 3 times the original amount of the default. - Don't stir up trouble for yourself. You'd be better off using the money to get a secured credit card and using that to rebuild a history of paying on time. - If you're going to pay anyway: How to pay/settle credit card defaults: http://tinyurl.com/3q8x6e6 Answered By: CatDad - 2/27/2012

I agree with Cat Dad. If these companies are not reporting to the credit bureaus, definately don't contact them! If they are reporting, but have not contacted you for payment, and they are beyond SOL...let those puppies sleep! What are the dates they are due to drop? On Equifax, it will say "Date of First Delinquency". Trans union will show at the end of the acct info something like: "This acct expected to be removed by Feb 2015 (or some such date)" If they do contact you for payment...try the PFD method. You send an email to a top exec of the company offering payment to delete the acct from all 3 reports. Here is an example PFD: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/m-p/4519/message-uid/4519#U4519 The creator of this letter is a SMART guy when it comes to this kind of thing! Source(s): Me & the myFICO forums Answered By: BungalowMo - 2/27/2012

Submit your answer or comment to this question

Other Career Questions

	How long does Bad Credit take to sink in and what are the effects to look out for? This is about credit, not jobs. 1 answer - Asked By: markusfarkus33 - 12/20/2009

	Does a credit counselor convince individuals that their service os good? My boyfriend and I were discussing the purpose of credit counselors. My boyfriend says that they only suggest things to you and its your choice to make, which I agree with. I dont think that credit counselors are bad, but I think that their job is based on convincing individuals that their service is beneficial. Do you think that convincing is part of a credit counselors job? 3 answers - Asked By: resto_us - 7/1/2008

	Can I use the credit through my credit card to buy a car? I've only had my credit card for 5 years. Besides my credit card, I do not have any credit or job. I only have a credit line of 8,000$. You think I'll have enough credit history to buy a car? I'm afraid that I might not qualify. 2 answers - Asked By: Piggy Pink - 2/19/2011


Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo! Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Questions

	Is this normal for an interviewer to do this? So today I went in for an interview and I was going in for the 2nd interview by the head chief executive. now this is where it got weird, so she asked me about my previous jobs and said how much she liked that product over that product. then she started talking about her daughter? an her divorce ...then how she didn't finish college because she was making more money doing what she did for this company ... then she talked about how her teenage daughter is a handful... I just played it cool thinking she was using some sort of psychology thing to trick me into saying something stupid. the interview ended and she seemed happy an I was escorted to the door... now I'm freaking confused? is this normal behavior for an executive? like it felt like she was going to burst into tears at one point and tell me her life problems... is this normal? was she trying to see how I react or something? 6 answers - Asked By: Clone - 11/7/2012

	How do I get a job with Dodgy work history and no experience? Basically- no degree, although I have tried completing one in the past and stopped because of physical and mental health issues which were overwhelming to deal with along with going to classes full time. I'm not stupid and I am quite articulate. I am 23 and have only worked for about two years retail in high school and stopped working to go to university. I worked a few months in 2010 retail after I dropped out but it was only a seasonal position, and the only reason why I have not been able to constantly work is because of mental health issues. I had also tried going back to community college during my free time since i left university in 2008/9 and I had panic attacks while in community college, which made my anxiety worse from then on. Well recently I met a good doctor and he prescribed me some meds that are stabilizing my moods and I feel the best I've felt in years, and I'm ready to work. Thing is, I don't know how to get a job now since I've spent literally years being depressed and anxious doing nothing. I don't really have anything to put on my resume, and I never finished my AA degree either. All I've done is cashiering and although I do the job well and I get promoted easily when I do these jobs because I'm a hard worker and I try to go above and beyond what they ask of me,which is the attitude I have no matter what kind of work I'm doing as long as I'm getting paid. But I hate cashiering because it's too easy and I want a job that is more interesting. Any suggestions for me on how to get a job that is NOT Retail with the type of background I have right now? I also realize I have to go to college to get certain types of jobs, I am talking about what I can do right here right now. 1 answer - Asked By: Alex Prieto - 10/14/2012

	Why honesty, hard work and dedication have no place at work? Recently I have overlooked for a project at work and I am unable to accept it why? I am hard working, dedicated, maintain a very professional decorum, very cordial with my colleagues and bosses, give respect to one and all. Still people who take the p***, argue with managers, gossip mongers have been selected for some very responsible positions at work. I seriously can't get my head around it why, why unprofessional people who have no work ethics being selected over me, whereas I have a track record of excellent performance and never shy away from any work my manager ask me to do? I am at my lowest point and not getting hold of my manager to ask the question why not me, why them who can't even bother? I am feeling like a complete loser, giving years to this place, building my performance, trust and this is how I get rewarded. Why my life is so shit, anything I wish for turns to dust? 1 answer - Asked By: network7 - 11/6/2012

	What do you say when they ask what you want to be paid? ? Wen you apply at a job and they ask how mch you want as a salary what do you say? 2 answers - Asked By: Colette - 11/24/2011

	I have applied for over 100 jobs I have gotten no calls for a job interview, what can i do? As stated in my question I've applied for multiple jobs and gotten no job interview, you name a place I've applied there. I've said i will work ridiculous hours from like 12am to 5am and nothing. I've said I am willing to work weekends public holidays everything and I have gotten nothing back I am so desperate for money it's not funny. 9 answers - Asked By: Jamie - 1/9/2012

	What to wear to a job interview VS a career fair? So I have a nice white button up shirt, business skirt and pants, and a suit jacket. I'm applying for a software development job and I'm very short and can look young so I'm trying to look adult, yet professional. I'm also attractive so I'm trying not to look too sexy. For the career fair I'm thinking of wearing just my nice shirt and a skirt with low heels. My reasoning being it's approachable and attractive without going overboard since the career fair hosts are mostly younger male recent grads. I want to be remembered but not intimidating. For my interviews I was thinking pants, suit jacket (power suit). My reasoning being it'll be older execs and HR people (mostly women) so less sexy with the pants but more powerful with the suit jacket. What do you think?! 2 answers - Asked By: Beast - 9/23/2012

	What is NOC Engineer ?. What are his responcibilites ? 1 answer - Asked By: vishal - 2/23/2006

	How can l find a job in the pharmacitical field as a sales and marketing manager,in south africa? L want to study medicine and work as a doctor but l am limited due to luck of required monyes. however l swtched on to anther career but still within my career interests as a care giver, but this is somthing to do with sales and marketing in the pharmcitical industry. 2 answers - Asked By: tonnydanabwembya - 12/24/2005

	What questions should I ask at a job interview for a healthcare recruiter position? I have an interview tomorrow with a healthcare recruiting firm and I want to have a few good questions to ask about the job/industry, but it will be a new field for me and I'm not sure what to ask about. Any suggestions? 1 answer - Asked By: stephinrado - 5/8/2006

	I want to become an events/party planner. Does anyone know how I would begin my own business in this field? I am in the process of planning my own wedding and I am having a fantastic time doing so. I have always enjoyed planning things: group vacations for my friends and I, road trips, etc... I could be described as a slight control freak and I am a perfectionist. I know I would exceed, and enjoy my career, if I were to make this a possibility. How do I do it? How do I get my name out there? How much do event planners charge for their services? I have a lot of questions, and hope that people who are self employed would be able to give me some pointers on getting my business up and running. Thank You in advance for your time and help. 2 answers - Asked By: Careerdriven - 4/24/2006

	Job description of supply and logistics manager? I am applying for a job of supply and logistics manager so I need to know more about the this job 1 answer - Asked By: waelasfour - 6/19/2006

	I am a student who is working at Deloitte during this summer. What is the dress code during the summer? Being a student my budget is limited so any help regarding specific retail outlets to go to would be very helpful. I am working in downtown toronto for Deloitte (accounting firm) and the summers are very hot here in Canada. Any specific advice on what clothing items this MALE student should wear to work would be helpful. The dress code is "business casual". As if any student knows what that means. 2 answers - Asked By: kamol_yason - 5/3/2006

	What is the difference between a nurse practitioner and an ARNP? Is there any difference between a "nurse practitioner" and an "advanced registered nurse practitioner"? 1 answer - Asked By: lucysmom - 3/27/2006

	Debenhams job application/interview help? I'm applying online for a job at Debenhams. It's just a temporary part time job but I have no previous retail experience, just in customer service, and I am finding some of the questions rather difficult. Our commitment to training and development encourages our people to grow their futures with us. If successful in joining our team, how will you become an expert at what you do? and At Debenhams, our people make all the difference to our customers. If you were a Stock Movement Adviser with us, how would our customers know that you are focused on their individual shopping experience? Any help in answering these questions would be greatly appreciated, many thanks! 1 answer - Asked By: Mac - 9/7/2012

	What does marketing communications means to a manager? 1 answer - Asked By: Gotti girl - 7/23/2006

	Math Teacher? I am going to college in about a year or so and planning on going to school for teaching...I am hoping to be a high school level math teacher and just wondered if you guys knew of any good schools with a good teaching or math program? 3 answers - Asked By: ♥Special K - 8/20/2006

	Where to find Java Mobile Application developer in Singapore ? I am looking for someone (or company) to program a simple (I think) java mobile application, but do not know where to look. Any ideas where to start ? 1 answer - Asked By: ppb - 7/11/2006

	How much does an Electrical Engineer make? I'm thinking of completing an Electrical Engineering degree and was wondering what people are making just out of college and those that have been in the field 5+ yrs. The main careers I am looking at are Design Engineer and Technical Sales Engineering. Any input from people with those jobs would be great! 3 answers - Asked By: MacDadRaj - 3/23/2006

	Why does NCO-RMH in Manila give delayed paychecks to their resigned employees. it's a call center company? I was told by the people in the HR department that our checks have to come from Pensylvannia. Does it normally take that long? I mean more than two months for a paycheck that i worked hard for.? 1 answer - Asked By: nightshades9678 - 8/28/2006

	I want to become an Escrow Officer, does anyone know how to go about it? What kind of training will I need? I know that Escrow is within Title industry in Texas. What would be the best way to get my foot in the door. I am assuming I will have to start as an Escrow assistant and work my way up, but I would really like to find out more about this career path. How does an officer usually get licensed? Are there classes we need to take and exam to take? Any response is appreciated. 2 answers - Asked By: schang25 - 2/10/2006

Monster Communities

Teaching Community: Where teachers meet and learn.
ArtBistro: Create and connect.
Excelle: Networking for the career-minded woman.
Nursing Link: Where nurses call the shots.
More Monster Communities

Monster Partners

Scholarships: Scholarships, financial aid and more ways to pay for school.
Education.org: Find top campus and online degree programs.
Military.com: Military portal for the US Army, Navy, Air Force, Marine Corps and Coast Guard.
Financial Aid: Scholarships & financial aid.
Staffing for Government Jobs: Staffing and hiring solutions for federal government agency jobs.
More Monster Partners

Job Hunt Strategy

Six Ways to Make a Recruiter Hate You

If you want to blow your chances with recruiters -- and, by extension, with the companies they work for -- here are six perfect ways to do so.

Resumes & Cover Letters

Rev Up Your Resume to Relocate

Hoping to relocate? Get the ball rolling on landing the right job in the right location with these expert resume and cover letter tips.

Interviewing

100 Potential Interview Questions

Interview questions can run the gamut. You probably won't face all 100 of these, but you should still be prepared to answer at least some of them.

Salary & Benefits

10 Questions to Ask When Negotiating Salary

Most of us aren't natural negotiators, but asking these 10 questions during salary negotiations can help you get everything you deserve.

Attracting Candidates

Facebook for Employers: Make Friends, Not Fans

Recruiting? Go where the talent is. See why recruiters have befriended social networks.

Employee Sourcing

Employment Index

November Monster Employment Index Grows 13% Year-Over-Year, Tenth Consecutive Month of Positive Annual Growth.

Interviewing Candidates

Improving Interview Skills: Learn from the Experts

What’s the key to a great interview? According to experts: Practice, practice, practice.

Workforce Planning

Enhance your Small Business Marketing Strategy with Social Media

Social media. It’s everywhere. But how can it help you? Learn how to utilize social media even monetize it.

For Seekers

Campus and Online Degrees: Advance your career and earn more with an online degree.
Free Salary Wizard: What are you worth? Find out and negotiate a better salary.
Research Careers: Get information on jobs and career paths to help guide your choices
Questions & Answers: Find answers to all your career related questions -- powered by Yahoo! Answers
Resume Distribution Service: Our distribution service puts your resume right in the hands of recruiters.
Resume Writing Services: Our experts will craft a keyword-rich resume that stands out in the crowd.
More Career Resources

For Employers

Career Ad Network: Target your job posting to more candidates on thousands of websites.
Hire Right Background Checks: Explore our background check packages to improve the quality of your hires.
Hiring Home Page: Find the best candidates for your business with Monster hiring solutions.
Job Postings: Find the right solution for your hiring needs. Starting at $99.
Power Resume Search: Monster's new search technology precisely matches people with your jobs.
Resource Center: Find staffing insights, labor trends, HR best practices and more.
Target Post: Connect with skilled, hourly and administrative candidates for only $99.

Social Media

Jobs on Twitter: Find jobs in your area and industry.
Monster Careers: Tune into our career advice and discussions tackling a wide range of topics and industries.
Monster Corporate & PR: Stay up-to-date on the latest news. Get the 'Who', 'What', 'When', and 'Why' on all things Monster related.
Monster Customer Service: Got a Monster question? We've got the answer. Whether you're a job seeker or employer, we can help you find the answers you need.
Monster for Employers: Find advice on hiring.
Follow Us: Check out our many pages and stay connected with the latest industry news, events, career advice and job openings.

Are You An Employer?