LVNV and General question

Nowhere in the IRS instruction does it specify that reporting the debt as forgiven means that it cannot still be collected or sold to someone else and collected. The General Counsel of the IRS has pretty explicitly stated that the issuance of the 1099c does not prohibit subsequent collection of the debt. Unsaid, but I think, logical, is the notion that a subsequent collection would trigger an amended or corrected 1099c to reflect the subsequent event.


Here's a couple links concerning 1099's:


http://www.irs.gov/pub/irs-pdf/p525.pdf


http://www.irs.gov/instructions/i1099ac/ar02.html#d0e261

Thats what i was not sure of. See i had to pay taxes on the "forgiven" debt as if it was income so thats why i am unsure. I do however believe that reaging the account, showing it as open, refusing to validate is illegal. I admittedly have not read as much case law on this as i should but i will sure start. This is what Experian shows

lvnv funding llc
Address:
PO BOX 10497
GREENVILLE, SC 29603
(866) 464-1183
Original Creditor:
CITIFINANCIAL, INC

Date Opened:
06/2007 (really i opened an installment account with them?)
Type:
Installment
Credit Limit:
NA
Date of Status:
09/2008
Terms:
1 Months (really a 1 month term?)
High Balance:
NA
Reported Since:
09/2008
Monthly Payment:
$0
Recent Balance:
$9,483
Last Reported Date:
09/2008
Responsibility:
Individual
Recent Payment:
$0
Creditor's Statement:
Paying under a partial payment agreement. (Never made a payment agreement)

LVNV is notorious for inaccurate reporting. They are likely also listed as a Factoring Company which is technically wrong but they are required per the E-Oscar Program to be listed that way. Have you disputed the account with all 3 CRA's. If not, do so and they will add the notation "Disputed by Consumer-Meets FCRA standards"

My dispute said all information was verified Sept 08. What is the E-Oscar program? Now here is the original account information that is also on my report:

Account Name: CITIFINANCIAL
Acct Type: Unsecured Loan
Acct Status: Closed
Monthly Payment:
Date Open: 9/1/2005
Balance: $8,508.00
Terms: 48 Months
High Balance:
Limit:
Past Due: $8,508.00
Payment Status: Charge-off

The last activity was in Jul 06.

Oh and this is on my report for the LVNV:
Account in dispute-reported by subscriber

I have disputed this several times with Experian. I am trying to understand how they "investigate" it. See i have never had communication with LVNV at all aside from my unresponded to letters to them request DV. I do want to clear this up and was preparing to make settlement offers for all my debt and thats how i found this on my report. So i am not sure where to go.

I did win in court against Love, Beal, Nixon who tried to sue me without proper validation and had nothing and i got it dismissed w/ prejudice. They attemtped to refile for the same debt(not sure how the court didnt catch it). But i am deployed and gave them the letter from my cdr so nothing as of yet. Guess i need an attorney for that one LOL.

But yeah i dont know what recourse i have on these fools for yanking me around. With them reporting the debt the way they have and showing a new account with a date of 6/2007 isnt that techically reaging the account?

Thanks for any help or advice!

E-Oscar is the program the the CRA's and data furnishers use to communicate, update tradelines and verify disputes. Looks like they have listed the account as disputed so they are in compliance with the FCRA. When you sent your DV to LVNV, did you add a "limited C&D" (All communication via US mail only)? If so, they will take it as full cease comm and will never validate.

I am dealing with them now as well. I disputed and they verified, I DV'd and they never responded, I filed a complaint with the BBB which went no where. I am in the process of filing complaints with the TX and SC AG's as well the the ACA. If that does not resolve the issue, then I will file suit and drag them into JP court.


Quote:

I have contacted the AG, will contact the BAR. Also gonna go talk to JAG next time i get to a bigger base. So the citi account should show sold now then and the 0$ balance? Ill get on that dispute here in a few. From what i saw on the report the last payment i made was in 06 but the open date of last activity from LVNV was 07. Just the same they are saying i am in a payment plan and i dont know what effect that has to be honest. I know that i never entered into one so they are fradulently reporting that information at the bare minimum.

OH i never made any reference to and Cease and Desist when doing my DV. I am fixing to send a fresh one out when i can get to a real post office over here.

What is JP court?

It seems when they buy these accounts to dont keep the paperwork or dont get it then jack up the amount. ANy other advice?

JP court Justice of the Peace which is considered a competant jurisdiction here in TX. Probably not applicable to your situation. When a JDB acquires a protfolio, its a mixed bag as to what and how much documentation they get from teh OC. It's not that teh OC doesn't have docs just that they are stored in a million+ sqft warehouse and time consuming to get. If it came to court and LVNV is the first JDB that holds the account, chances are, Citi would dig those records up for them. If they are the 3rd o4th JDB to hold the account, their chances of getting suffient documentation to win a contested suit decrease dramatically.

You can dispute the comment section on LVNV's tradeline "Never agreed to any payment plan"

Are you deployed in a combat zone? If so, read up on the SCRA if you have not already done so:

http://www.military.com/benefits/legal-matters/scra/frequently-asked-questions

Yeah i am pretty well versed on that. But i supposed ill read up on it again. Now here is the sticky part. I am a resident of Texas, but i live and i am staioned in Oklahoma. My intent after retirement is to move back to Texas(where i maintain a PO BOX). My DL is in Oklahoma cause the Army made me get one. That begs the question, although i reside in OK, and the original loan was in OK, which states laws apply and which SOL applies. All i could find on Oklahoma SOL was this:
STATUTE OF LIMITATIONS (IN YEARS)

Oral Agreements : 3
Written Contracts : 5
Promissory Notes : 5
Open Accounts : 3

Not sure which this would fall under tho?

Try doing some research into OK case law and see if you can verify but it will likey fall into the 5 year category if they consider you an OK resident. SInce you have a permanent address in TX, you should be able to stick with TX 4 year SOL though. Military service may help that as well.

Yes that is what i am thinking. I know much more about PDL laws in Oklahoma than collection stuff. Do you know if Texas law says residents of Texas in the law or collections with the state of texas or mentions within Texas. That would clarify it much more. Either way i will see what i can find. It might help someone else. But since the information that LVNV is reporting and has been disputed more than once and is in fact innacurate, they should be liable for that. Basically they are giving the CRA lies that they portray to be fact. I guess I should file complaints starting with the FTC and AG on these guys even thought i doubt it will make a difference.

Thanks

I am interested in what you had to deal with regarding Love Beal & Nixon...I've got them on my heals right now.

any advice, or stuff I should watch for in dealing with them? They already filed suit....

thanks