Have you been contacted or legally served by LVNV Funding?
We can help!
We know, when you are contacted by any collections company that is demanding money, it can be very stressful. A lot of consumers are in your same situation. One of our own had experienced dealing with LVNV firsthand (great story in the eBook). We began receiving so many calls regarding LVNV Funding and hearing people in such despair, that we could no longer do nothing. We are sure, like most people, you have researched the net about LVNV or Resurgent Capital and are getting all the same answers. Write a debt verification letter, send it certified, call them, etc. That is all great advice if you knew LVNV Funding even existed more than 30 days ago. Everyone calling us had a court date within 2-4 weeks. There was no time for sending letters anymore. And nowhere can you find what you need to say in court. So we took action. We couldn’t hear one more story about paychecks being garnished, or liens being placed on checking and savings accounts, even homes! And many of these calls were from the elderly, disabled and/or unemployed. We knew we had to help!
After many late nights and weekends in our office researching consumer laws, collection laws and the judicial process, we produced this eBook for you! We priced the eBook to be affordable. We are looking to help, not be another financial burden to LVNV victims. If you purchase our eBook you will learn why it’s $39 (funny story).
Who is LVNV Funding?
LVNV Funding, LLC is a debt purchasing agency. LVNV Funding and Resurgent Capital Services work in tandem to secure funds for their business by collecting old debt from creditors and other collection companies. They are owned by Sherman Financial Group, LLC
LVNV will almost always proceed with filing a lawsuit, which is within their rights to do if they own the old debt and you in fact do owe the debt. But you do not owe LVNV the money! Their approach to collecting debt is more underhanded than other collection agencies. It is no surprise that LVNV Funding and its affiliates have more negative comments and complaints against them than most in this industry.
LVNV usually sends a letter to the consumer regarding old debt or sends the sheriff to your house to serve you. One approach LVNV funding doesn’t take is calling the consumer like other collection companies. Instead, LVNV Funding will subcontract a debt collection company, to actively pursue the delinquent debt on their behalf through a company like Resurgent Capital Services. They bank (literally) on the hopes you do not show up in court. Because if you don’t show up, they win by default. Most people don’t show up in court and therefore they have made over a billion dollars of old or even expired debts. Whatever you do, do not ignore them. That is the ONLY way they can win.
LVNV Funding is one company that seems to be showing up more and more on credit reports lately. With creditors like First Premier Credit Card, Avant Master Card and Merrick Bank taking on clients with much lower credit scores than usually required the default rate is much greater. These creditors prey on the vulnerable with such offers as: Sign up receive a $300 credit line today. What the consumer doesn’t see, in the small print, is the $179 annual fee that is paid upfront leaving only $121 in remaining credit. The consumer walks away with more debt than credit. You might ask,” how is this even possible?” We ask ourselves that all the time!
LVNV Funding acquires your old debt. Since most times the debt is so old, the creditors sell your debt to LVNV Funding for pennies on the dollar. They sue for the original debt amount and add additional fees and court costs, usually doubling or tripling the amount initially owed. This has been an extremely profitable strategy with their debt collection efforts. Certain strategies they have acquired are borderline illegal.
For instance, they serve your summons to you at the wrong address. If you moved, you will not be aware this is happening until there is a judgement against you to garnish your wages or a lien has been placed on your house. Herein lies the problem with this practice. Obviously, if you are no longer at the address where the notice is being served, you are not aware of the court date, but proceedings still move forward. This results in LVNV having the decision awarded in their favor and they win their case against you. It is up to you to fight it.
How can consumers deal with LVNV?
LVNV Funding tends to thrive on finding and taking the path less traveled to contact the consumer in making them aware of the debt. The reason they do this is in hopes that you, the consumer, do little or nothing to fight their efforts in collecting the debt.
What if LVNV is listed on my credit report?
If you come across an account such as LVNV Funding, LLC on your report, you should immediately get to work on validating the debt, as companies such as LVNV Funding work very quickly on reporting and expediting all efforts of collecting said debt.
What your swift efforts are working towards is that LVNV Funding will hopefully, not be able to verify the debt in question and/or avoid a judgment against you