WOW! Stay the course on the bottom feeders... I have learned much from you and others on the collection racket. Bad things may remain on credit reports for seven years. How can they reset the clock... they can't! What a bunch of nonsense. Glad you are educating us!!! Makes me mad that they don't try to work with people...

******UPDATE***********
I recently sent a debt validation letter off certified to LVNV funding on 12/01/2011, they have received my letter and signed for it certified, they are now reporting the 2 collections as closed, and at the bottom of the account it also reads customer disputes! I am happy to report all 3 of my credit scores are restored! TU 710, EQ 682, Exp 693! Basically I sent them this letter to validate the debt is mine! They have 30 days to respond to my request, and in that time that they dont, all three credit reporting agencies are legally obligated to delete these collection accounts! LVNV has already violated federal law by not reporting these accounts accurately, first off, they were reporting both accounts as being open August of this year, which isnt true, the original creditor charged both accounts off in 2004-2005! They are listing these accounts as installment accounts, which they werent! Major federal violation right there! One of the 2 accounts is past Indiana 6 year statue of limitations! LVNV might have bought these accounts in August, but they have to use the open date as of the last charge off! I will fight these bottom feeders! I have worked too hard to have my scores ruined by these morons!

My mom has collections from the too, they are a really bad collection company to deal with. They dont want to get paid, they would rather further hurt your credit. My mom tried to settle with them and they refused, their exact response was we would rather settle this matter in court.

I pull my Equifax report the other night and notice that LVNV funding has placed two old accounts for collection on my credit report! Both reporting as being opened in August of this year, and reporting 120 days past due! My Equifax score faired well though 680, however, they just hit my TransUnion report and knocked my score from 708 to 578!!! After researching this more, I find out, they are trying to collect on 2 old credit cards I have, First Premier, and Plains Commerce Bank, both were opened in 2004 and charged off in 2005! So I decided to send out a debt validation letter in reference to these 2 accounts, I am willing to pay a settlement, however, they arent so eager to do a pay for delete! I can see now LVNV and me are going to have some problems! Has anyone else ever heard of this company or had a similar situation yourself? If so please post here so I can get a better idea of who and what I am dealing with!