Are you tired of receiving harassing phone calls and letters from LVNV Funding? Do you feel overwhelmed and need help handling a collection lawsuit from LVNV Funding?
Debt collection companies like LVNV Funding can be relentless in their pursuit of unpaid debt. From persistent phone calls to repeated letters and even lawsuits, the tactics used by collection agencies can be intimidating and overwhelming.
However, with your consumer’s rights in mind, you are not powerless in the face of debt collection. While LVNV Funding is allowed to collect on a debt, they must follow strict rules and regulations set forth by the Federal Trade Commission (FTC).
Unfortunately, debt collectors like LVNV Funding hardly always respect those rights, often violating consumer protection laws. When this happens, it is up to you to protect yourself. Knowing your rights as a consumer and the strategies available to you is vital.
This article will provide actionable strategies and tips for stopping LVNV Funding. You will learn how to handle collection lawsuits from LVNV Funding, dispute incorrect information, negotiate debt settlement agreements, and more.
What is LVNV Funding? Are they legitimate?
LVNV Funding is a debt collection agency based in Greenville, South Carolina that specializes in purchasing and collecting consumer debt. They purchase charged-off debt from creditors(e.g banks, and credit card companies) for a fraction of the original amount and then attempt to collect the outstanding debt from consumers.
LVNV Funding entrusts the management of its account portfolio to Resurgent Capital Services, a licensed third-party debt collection company. Resurgent manages consumer debt and may reach out to you directly or through a partner collection agency.
Thus, if you took out a loan or had a credit card debt that went into default, LVNV Funding may have purchased your debt. When this happens, they become the new debt owner and have the right to collect the total amount owed.
At the start of the debt collection actions, LVNV Funding, like most debt buyers will usually send debt collection letters, emails, or phone calls to the debtor attempting to collect the debt. These calls and messages may become persistent and harassing, causing stress and financial strain on the consumer.
If the debtor fails to respond to these attempts, LVNV Funding may file a collection lawsuit and obtain a judgment against them. Sometimes, they may even garnish wages or place a lien on the debtor’s property.
LVNV consumer complaints and Review.
While LVNV is a legitimate company, they have had numerous complaints against them for violating consumer protection laws. The Better Business Bureau (BBB) has over 400 consumer complaints against LVNV Funding, giving the company a 1.08/5 rating.
Most complaints involve LVNV Funding’s failure to validate alleged debts, incorrect reporting on consumer credit reports, and attempt to collect debts already paid or discharged.
Below are some real-world examples of LVNV Funding complaints and reviews provided by consumers:
- “Upon checking my credit report. I noticed inaccurate information on my file reported by LVNV funding LLC , for a collection charge off $918. This is a formal notice to have this taking of my credit report as soon as possible as is a violation to my fair credit reporting act section 1681b(c).”
- “I am not liable for this debt with LVNV FUNDING LLC and do not have a contract with convergent. They do not provide me with the orginial application like I asked.”
- “Defamation of Character Resurgent Capital has injured me by placing a collection account on my consumer reports without giving written proof that I owe them a debt which is a violation of 15 U.S. Code 1692e. No contract provided with my wet signature No forward flow agreement provided No aggregate value provided No invoice was provided for the sale of the alleged debt No proof that they bought any debt This is fraud Remedy: Cease and Desist all collections of this alleged debt Remove this alleged debt from my consumer reports”
Additionally, the Consumer Financial Protection Bureau (CFPB) has received over 2,000 consumer complaints against LVNV Funding, with the majority of those complaints involving incorrect reporting on consumer credit reports.
Your Right under the FDCPA
The Fair Debt Collection Practices Act (FDCPA) outlines the rights and responsibilities of debt collectors and consumers.
It was set in place to protect consumers from illegal and abusive debt collection practices. Under the FDCPA, LVNV Funding is prohibited from using harassment or deceptive tactics when attempting to collect a debt.
If LVNV Funding or its partner collection agency has engaged in any of the following tactics, you may have a case against them:
- Making threats of legal action or using profane language
- Calling you at odd hours of the day, late at night, or on holidays
- Disclosing private information about your debt to third parties
- Making false representations about the debt or its status
- Failing to verify the debt upon request
- Attempting to collect more than the amount owed
- Contacting your employer or family members
The FDCPA also outlines the consumers’ rights in response to debt collectors’ attempts to collect a debt. You can:
- Request verification of the debt
- Request that they stop contacting you
- Send a cease and desist letter
- File complaints with the CFPB or FTC
If you believe that LVNV Funding, LLC has violated the FDCPA, you may be able to file a complaint with the CFPB or your state’s Attorney General’s office.
You should also contact a consumer law attorney to help you file a lawsuit against LVNV Funding.
Sometimes, the court may require them to pay damages, cease collection activities, and even pay your legal fees.
How to respond to a debt collection lawsuit from LVNV Funding
If LVNV Funding or its partner collection agency has taken legal action against you, such as filing a lawsuit, don’t panic or ignore it. You should take action immediately to protect your rights and your credit score.
Usually, the first step in a debt collection lawsuit is that LVNV Funding will serve you with a summons. When you receive the summons, make sure to read it carefully and respond to it within the time limit stated in the summons.
Failure to respond to the summons within the time limit will result in a default judgment being entered against you, which means that LVNV Funding will automatically win the case.
Here are some tips for responding to a debt collection lawsuit from LVNV Funding:
Verify the debt
The first step in responding to a debt collection lawsuit is to verify that the debt is accurate and that LVNV Funding has the legal right to collect it.
You can request debt validation by sending a written request to LVNV Funding, and they are required by law to provide proof of the debt by sending a debt validation letter.
If you dispute the debt, make sure to include this information in your response to the complaint.
Review the complaint
Carefully review the complaint to understand the allegations and the amount of debt LVNV Funding seeks to collect. Pay attention to the dates of the alleged debt, the statute of limitations for debt collection, and any other relevant information.
File a response
You must file a written response to the complaint within the timeframe specified in the complaint. This response is an “answer” and should be filed with the court and served on LVNV Funding.
Your answer should include any defenses you have to the lawsuit and any counterclaims you may have against LVNV Funding.
Some common defenses include an expired statute of limitations, the debt was already paid, or the original creditor charged off the debt.
If you believe the debt is accurate, consider settling the debt to avoid a lengthy and costly legal battle. You can negotiate a reduced debt settlement amount with LVNV Funding or arrange a payment plan that works for you.
Seek legal advice/assistance
If you are still determining your rights or the best way to respond to the lawsuit, it is essential to seek the assistance of an experienced debt settlement attorney. A lawyer can help you understand your rights, prepare a strong defense, and represent you in court if necessary.
When dealing with debt collection, LVNV Funding can be a challenging adversary. Still, they’re not invincible. You have rights under the FDCPA and other laws protecting consumers from unfair and abusive debt collection practices.
If LVNV Funding violates any of these rights, you should take action to protect yourself. This article has outlined some critical steps to respond to a debt collection lawsuit from LVNV Funding.
You can successfully defend yourself against debt collectors with the correct information and legal assistance.
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