LVNV Funding joins a long list of debt collectors that operate by harassing and sometimes violating the law to try to collect on old debts. The last thing many people want is to hear from a debt collector, but fortunately, you have legal options for debt settlement with LVNV Funding. Even if you’ve been sued or have had a judgment entered against you, it may be possible to pay less than what you owe.
Are you ready to put LVNV Funding and its collection tactics behind you? Debt settlement may be the solution. Reach out to the Fullman Firm today.
What Debtors Should Know About LVNV Funding and Debt Settlement
LVNV Funding isn’t just a debt collector; it’s a debt purchaser. That means it buys up old accounts, mainly credit cards, for pennies on the dollar. Then the company goes after the debtors for the amounts it claims are owed. LVNV sometimes uses an affiliate known as Resurgent Capital, so that’s another name you should be familiar with. There are other third parties, including law firms, the company uses to collect.
LVNV has been accused of violating debtor protection laws by using harassing and illegal collection practices, such as making repeated and constant phone calls and making false and misleading statements to debtors. In some instances, false information has been submitted to credit reporting agencies concerning debts that were outdated, already settled, or not belonging to the debtor.
The company or its affiliates may make phone calls or send collection letters to debtors. Eventually, however, the company will probably file a lawsuit to get what it wants. If you’ve been contacted in any way by LVNV Funding or sued, it’s imperative that you retain a knowledgeable debt settlement attorney.
Your Rights Against Debt Collectors
As mentioned above, LVNV Funding has been accused and even sued for violating debtor protection laws. What are those laws? The primary protection is a federal statute known as the Fair Debt Collection Practices Act or FDCPA. The FDCPA bars collection companies such as LVNV from using certain tactics to collect from debtors. A debtor can sue a collector for violating the FDCPA. This law prohibits collectors from:
- Threatening debtors over the phone
- Using obscenities or profane language against debtors over the phone
- Contacting anyone who is not the main account holder (except to find out general information, such as to locate the debtor)
- Disclosing details of the debt to employers or others
- Calling debtors at unusual hours of the day (e.g. after 9:00 pm)
- Withholding certain information about the account from a debtor
- Sending debt collection letters that falsely appear to be from a court or the government
- Threatening to have debtors arrested for not paying the debt
This law covers any and all communications from debt collectors. Violations could subject the collector to legal action.
Debtors have another important right: to find out details about what they allegedly owe. You can ask LVNV Funding to provide you with information concerning:
- The identity of the original creditor
- How much you supposedly owe
- A statement that you can dispute or request validation for the debt
Don’t overlook this right. Many accounts, including those purchased by LVNV, contain false information. Outdated files, identity theft, clerical errors, and carelessness can cause people to be pursued for debts they don’t even owe. If you don’t recognize a debt, don’t be afraid to ask the collector for verification of it.
LVNV Has Sued Me; Now What?
If you’ve been sued or threatened with a lawsuit by LVNV Funding, you need to know what to expect. First, you do have the right to assert legal defenses if you have them. You can also take legal action for any violations of the FDCPA. However, as a general matter, there are few legal options if you actually owe the money.
Some debtors expect to be sued and try to dodge the service of the legal paperwork. This may delay LVNV Funding, but it won’t prevent them from effectuating service eventually. Also, if you have been sued, ignoring the lawsuit won’t make it go away, either. On the contrary, it just makes it easier for LVNV to obtain a judgment against you.
LVNV will probably get its court judgment against you at some point. It will include the amount of money you allegedly owe plus other costs like court fees. The judgment will permit LVNV to garnish your wages, put a lien on your property, take money from your bank account, and take other actions. But even if LVNV has obtained a judgment, you still have options.
What Is Debt Settlement, And How Can It Help Me With LVNV Funding?
Debt settlement is a legal strategy that allows debtors to pay substantially less than what they owe. It operates, in part, based on leverage. Collectors have to spend money to make phone calls, send letters, hire attorneys, and go to court. Even then, they may not collect everything they are owed. Debt collectors would prefer to save this money and time by getting whatever they can from the debtor. That’s where debt settlement can help.
The Fullman Firm is an experienced debt settlement law firm. We have worked with countless debtors to help them settle debts for less than what they owe. Debt settlement is a process that takes time, knowledge of the law, and an understanding of how collectors like LVNV operate. Our experienced team is ready to develop a customized debt settlement strategy that can save you money, stress, and headaches.
Start By Giving Us A Call
No one likes being chased down by debt collectors. But the sooner you confront the debt, the easier things will be. Let the Fullman Firm help you on that path with our debt settlement plan with LVNV Funding. It starts with a phone call to our caring and dedicated team. Schedule your confidential consultation with us today.