lawsuit

Can a collection agency get more then they paid for the debt in court? I have been summons to court by lvnv funding,llc and they are suing me I am going to court to try to work out pymt since they want all their money at one time and are suing me for the amt of original debt plus interest and att fees. Also can the put a lein on my home? I am a 67 year old living on social security alone and have nothing but the equity in my home. I filed a chap13 amd pd on that for over 2 years but could no longer pay when I became disabled to work any longer,

Bhutson

Hi, welcome to the forums!

They can charge for court fees, which shouldn't be much more than the original debt. Sometimes the judge will give you a break on the amount they're actually trying to collect for, if they find in favor of the collection company/law firm.. They cannot continue to add on interest.

Is this your first contact with LVNV Funding? How did you receive the summons? If this debt they are trying to collect on was listed on your bankruptcy, then you may owe nothing.

Please keep us informed on this.

Mike

They can put a lein on your home. They can not garnish anyhting from a disability or a social security check.

They can sue for the full amount of the debt, plus interest allowed under the contract (credit agreement), plus court costs and atty fees (if provided for in the contract and allowed by state law). What they paid the original creditor for the account is irrelevant. If LVNV gets a judgment, they can and will place a lien on your house, but your SS will be exempt from garnishment. Any bank account can be garnished unless you can show that all the deposits are from SS.

ok so they can sue for the full amount plus interest allowed under the contract agreement.. what if they dont have the signed contract as it seems alot of the debt buyers cannot produce when asked for validation..what then how do they prove in a court of law. i mean if theyre is no proof of signed contract then how do they prove u agreed to the added interest and such?

is this a payday loan?

There is an argument that a credit card agreement is a unilateral contract. That means, by using the card, the consumer has agreed to the terms of the contract. If the debt buyer can produce copies of statement showing the defendant used the card, that proves acceptance of the contract terms.