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I went default on my sears card back in 2000 due to some money troubles. I was living in Louisiana then. Now I live in Alabama. I have been trying to clean up my credit so I can buy a house. Now i have NCO calling me wanting me to pay them for the account. NCO says they are collecting for LVNV who is collecting for Sears. On my credit report only LVNV shows up. I have typed up a validation letter and plan on sending it to LVNV since they are the ones on my credit report. Should I also send one to NCO? Plus on my credit report it says the account was opened on &/17/2003. I have not made a payment since February of 2000. How can I get the real info posted on mt report since the 7 years is past.
Interesting, I thought that NCO was a large debt buyer itself. Maybe NCO bought the debt from LVNV? These companies play games to make you wonder who actually has the debt and owns it. I'd send a validation letter to both. In it, make sure to say that you are demanded "validation", not "verification" that they have your name and address. I would also state that any negative or untrue remarks are place on your CR, you will take action. These companies sometimes like to pretend to be original creditors as well. LVNV purchased it from Sears probably. Then might have sold it to NCO.
What's the status LVNV has put in your credit report? Law Student is right. It sounds like NCO has bought it from LVNV. If they do not own the account, they should mark it as 'zero balance' I guess.
Hold on, you said that you stopped paying the account in 2000 right? Isn't the SOL over? If yes, then no one can force you to pay the debt. Which state are you from?
@ Law Student
@ Law Student
Why don't you join this board, it's a nice place on earth :lol:
I will. I belong to the debt board, I didn't know you had to register with both. Thanks.
Btw, if you haven't payed since 2000, the SOL run on this debt long ago in Alabama, which is 3 years for open accounts. You could even send a letter telling them to cease communications. It's way too late for them to take any legal action. Because they can still try to collect, but you don't have to pay them, and are no longer obligated. In fact, it would be in your best interest not to pay them a dime, for if you do, the debt could be brought back into the statute of limitations. I would deal only in writing, because on the phone you'll get nothing but rubbish, and they will tell you almost anything to get some small payment. (unless recording conversations is legal in your state).