LVNV Funding is a collection agency notorious for suing people whose debts they have purchased—if so, you may be wondering how to remove LVNV Funding from your credit report.
If you have recently discovered an LVNV Funding collection on your credit report, or have been contacted by one of their debt collectors, keep reading to learn how to remove LVNV Funding from your credit report.
What to Do When LVNV Funding Calls
Know Your Rights
First of all, if you’re receiving harassing calls from a collection agency, you need to not only know your rights under the Fair Debt Collection Practices Act, but be willing to stand up against collection agencies who attempt to violate your rights under this law.
Debt collectors, including LVNV Funding, oftentimes use questionable tactics to collect on debts.
Many just assume that you’re oblivious to your rights.
Continue Communication via Writing
The most important step you can take to avoid getting into a bad situation with LVNV Funding is to make sure all communication is done via snail mail.
Many people get into trouble when they attempt to negotiate with debt collectors over the phone.
This is because there is nothing on paper and therefore many times the debt collectors will simply go back on promises simply because there is no proof, no paper trail.
In order to get LVNV Funding to stop calling you, you will need to firmly tell them that you understand your rights under the Fair Debt Collection Practices Act, and you demand that all future communication be done via mail.
Now with that in place, let’s get to the steps you can take to get LVNV Funding collections removed from your credit report.
Next, you should send LVNV Funding what’s called a debt validation letter. This is simply a letter that demands that they prove the debt is actually yours.
In many cases, especially since they purchased the debt from the original creditor, they won’t be able to provide documentation that validates the debt is yours.
It’s definitely possible that the information they have about the debt is inaccurate as well.
If they are unable to provide accurate documentation within 30 days that shows that the debt is yours, they will be required to remove the entry from your credit report.
The easiest way to write a debt validation letter is to use a debt validation template.
Advanced Dispute Letter
In the case they LVNV Funding was able to provide you with documentation that verifies the debt is yours, you should continue with the next step, which is writing an Advanced Dispute Letter.
An Advanced Dispute Letter is a letter that is written to the three credit bureaus that dispute inaccurate information on the LVNV Funding collection entry.
There is a key difference between simply disputing the entry and using the advanced method, which I’ll go into now.
With the advanced method, you’ll get a current copy of your credit report and find the LVNV Funding entry.
Carefully look over the entry to find any inaccuracies. A few examples are: balance, high balance, all dates, the amount owed, name, address —basically anything you can find that’s not correct.
Once you have a list of inaccuracies, write a letter to all three of the credit bureaus that outline what is inaccurate, demanding that it’s either corrected or deleted.
You can use my advanced dispute method template for this letter. They’ll have 30 days to respond.
The trick with this method is that because you’re so specific in what’s inaccurate, it’s likely LVNV Funding will be unable to provide the correct information and it will be removed.
Pay for Delete Method
When you’re unable to find any inaccurate information on your credit report for the collection, you can always offer to pay the debt if they agree to remove it from your credit report.
Keep in mind that there is always room to negotiate here, so never assume that you’ll have to pay in full for them to agree to remove it.
The only problem with this is that you’ll actually need the money. That said, it’s a very effective way of getting negative items removed from your credit report.
Also, make sure that you always get everything in writing. Never make a verbal agreement!
Final Thoughts on How to Remove LVNV Funding LLC From Your Credit Report
All of the above methods are going to require a lot of time and commitment on your end.
It’s definitely possible to go the “do-it-yourself” route, but just keep in mind you’ll need to be patient.
I was actually able to remove LVNV Funding by having a professional remove it.
Honestly, this is usually the quickest way to get it removed. For this, I suggest you check out Credit Saint.
They’ll take care of you. Check out their website.