LVNV Funding buys debt. They do this internationally and domestically.
They purchase debt from finance companies, banks and other collection agencies. Then outsource the actual collections of an account to a number of agencies primarily Resurgent Capital Services.
Resurgent performs the collections on behalf of LVNV Funding. However Resurgent outsources their collection work to other collection agencies.
LVNV Funding typically only collects on delinquent unsecured debt such as a credit card charge off. If they have been contacting you it is regarding an overdue debt.
LVNV has the authority to create a negative mark on your credit report. They also have the authority to sell your debt to another collection agency if they are unable to recover payment.
So if you have had a credit card that was charged off, it could be multiple negative listings. You could have one negative mark from the credit card issuer, another negative mark from LVNV Funding and another negative mark if they sold your account to another collection agency.
This is why it is vital to know what is reported on your credit. You should also be aware that making a payment to LVNV will not help your credit. Your payment will not bind them to remove a negative mark from your credit report.
LVNV will not be able to delete any other negative mark regarding the delinquent debt that they did not create. In other words they will not be able to remove a mark created by the lender. I suggest getting in writing that the negative mark will be removed in exchange for your payment.
If you have a mark from LVNV, the most effective method for removal is to dispute the listing. You will dispute the accuracy or validity of the listing. This is done by sending a credit dispute letter to the credit bureaus.
Then the credit bureaus will conduct an investigation into the mark. However you should expect some resistance from the credit bureaus because it only costs them money to investigate disputes. So you may have to send your letter a few times.
Another option is to hire a professional credit repair service. They will dispute your negative marks on your behalf. I suggest using a credit repair letter if you only have one of two negative marks. If you have many negative marks then you should consider hiring a credit repair service.
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