LVNV Funding buys debt. They do this internationally and domestically.
They buy debt from banks, finance companies and other collection agencies. They outsource the collections to a variety of collection agencies most notable Resurgent Capital Services.
Resurgent will try and collect payment on an account for LVNV Funding. However Resurgent also outsources some of their accounts to other collection agencies.
Accounts collected upon are often credit cards and other forms of unsecured debt. If LVNV is contacting you it is regarding a delinquent debt.
LVNV Funding uses credit reporting as a method to recover payment. They can and will create a negative mark on your credit report if they are unable to collect payment. They also can sell your account to another collection agency if they can not 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 important to learn what is really shown on your credit report. You should know that just paying a bill from LVNV or any collection agency does not mean that they have to remove a negative mark from your credit report. So you can pay the bill and receive no benefit to your credit score.
Furthermore they will be unable to remove any other negative listing made regarding the account by another collection agency or lender. If the debt is valid and you do submit payment make sure to get in writing that LVNV will remove the negative mark on your credit report in exchange for your payment.
If you have a negative listing from LVNV and want to remove it, the most effective method is to dispute the credit bureaus directly. This is done with a credit repair letter, in which you state why the listing is inaccurate.
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.
The other option is to hire a credit repair firm. They will perform the dispute process for you with the credit bureaus. If you only have one or two negative marks on your credit report then I suggest do it yourself credit repair. If you have many negative listing then consider a credit repair firm.
