Collection Agencies and Creditors

LVNV funding LLC purchases charged-off a/c from creditors

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Posted: Wed Oct 17, 2007 1:36 pm Post subject:

LVNV is known for their unethical, illegal tactics. I have a letter ready to go out today (had some things come up, so waited until I could afford the $5 a pop to send out my various letters). LVNV is reporting a long SETTLED account on my credit report as open, and defaulted on 5/2007! This thing was settled back in 2002! So my point? You have to watch some of these folks, especially LVNV, very closely! Monitor your credit report, request validation, make sure they correct any discrepancy, etc. If they don't abide by the law, report them! We as consumers DO have rights, whether we defaulted on the debt or not. CAs MUST follow the law, regardless of if they are the OC, a collector, or some junk debt purchaser! Don't let LVNV and others like them bully you! There is a log of good information in these forums! I've learned so much from these folks! Take the time to read through various threads, even if you do not think they pertain to your situation. Read up on the various federal and state laws regarding debt collection and reporting practices. Arm yourself with knowledge, and let these "bullies" know who is in control! Monique - I am assuming SATX means you are a Texas resident. That really works well in your favor! I would google "Texas Debt Collection Act" and read up on our local laws. Some really good stuff there. I would request debt validation from LVNV (certified mail/return receipt), which naturally they will not do. You said if there is an account it hasn't been since 1996? Does that mean that you haven't had any dealings with an account since that time? If so, I would be sure to point out that if the matter is proven to be yours, it is outside of the statute of limitation for Texas, and such defense will be used if LVNV even attempts to sue!!! When LVNV fails to provide validation in 30 days from the time they receive our letter (and fails to remove the information from your credit report), send a second request (certified mail/return receipt). Watch your credit report to see if LVNV complies. If you do not receive validation in 60 days, and LVNV still does not remove the information from your credit report, report them to the Texas AG immediately!!! One thing to note (and Goldenblast can attest to) be cautious of LVNVs sneaky tactics. They may hire an attorney to continue collections during this process, though by law all attempts to collect must stop while the account is disputed. Follow the same procedure with this law firm as you did with LVNV.

SubiGirl

Joined: 06 Sep 2007
Posts: 114

Debtcc Points: 3264

Posted: Wed Oct 17, 2007 3:47 pm Post subject:

i have dealt with lvnv funding for a credit card that i owed on and when you owe them every time they send you a collection letter the debt gets higher and higher and they don't try to work with you and they are very rude.

blinkyberry

Joined: 19 Mar 2007
Posts: 96

Debtcc Points: 1846

Posted: Thu Oct 18, 2007 8:50 am Post subject:

I was summons to appear in court for a Pre-trail conferance from the company LVNV Funding ssignee House hold fin.However I never sign any contract but and extra card was given to me in my name from the card holder.I never received any attempts from them to collect debt from me nevetheless any phone calls. What can I do about this matter

SW
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Debtcc Points: 100

Posted: Thu Oct 18, 2007 9:17 am Post subject:

I'm not a lawyer, and I don't know of any case law on this issue or anything. In my opinion, it is a sticky situation. I have a little background in law, and here is what my take is on it. If you ever used the card with your name on it, you could potentially be held liable for some of the charges. Why? The fine print on every credit card receipt that states you agree to the charges and agree to pay. By signing that receipt, you are agreeing to this. So, even though you did not sign the contract on the account...stating agreement to the credit card terms, interest rates, payment, etc....you agreed on each receipt to pay the charges. Now, that is if you look for a loophole. In my opinion, I do not think they can go after you, just for having a card in your name. You did not agree to the terms of the credit card. Now, if you charged up the card, the person who did sign the agreement could potentially use the argument I made above in a small claims court to get you to pay for charges you made. However, I don't see that holding up in court for the other person against the credit card company or a collector. As I was told with regards to my ex-husband....he had a card with his name for my accounts, but I was the one who applied for the card and signed the agreement...I only asked later that he be given a card to use the account (reluctantly, mind you). When we divorced, I would be held liable for that account, and they would never go after him....because It was my name on the credit card agreement. The credit card company did not care that my ex was the one who made the charges! I would send a debt validation to LVNV ASAP...overnight mail, certified/return receipt. Now, they will not validate, as many here will attest to. However, it will show that you have tried to make them prove up that you are the person they should be going after. I would go to the pre-trial conference and immediately use the defense that it is not your account...that you demand they present a contract signed by you. Sounds to me like they are grasping at straws, because they couldn't get the contract holder to pay.

SubiGirl

Joined: 06 Sep 2007
Posts: 114

Debtcc Points: 3264

Posted: Thu Oct 18, 2007 9:38 am Post subject:

Thank you so much subigirl :D

TW
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Debtcc Points: 100

Posted: Thu Oct 18, 2007 5:31 pm Post subject: This Company-- LVNV

Folks be VERY CAREFUL with them THEY ARE A COLLECTION COMPANY. Send them a letter stating you choose to deal ONLY with the original creditor. Tell them To CEASE AND DESIST contacting you. After that they are in violation of Truth and lending act as well as other federal violations. My advice ,deal only with the original creditor. Happy Life, Frank

Flcaptain
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Debtcc Points: 100

Posted: Thu Oct 18, 2007 6:09 pm Post subject:

Problem is, they are not only a collection company, they are also a junk debt buyer. For many of the accounts these folks pick up, you can't work with the original creditor. The original creditor has sold off the account, and will no longer discuss the account with you. For many, there is no choice but to deal with LVNV, which is why you have to keep your bases covered. If you are summoned to court, go! Otherwise, they will succeed in getting a judgment on you for an account that is so way out of SOL it isn't funny (and then you can't do anything about it) or for an account that isn't even yours!

SubiGirl

Joined: 06 Sep 2007
Posts: 114

Debtcc Points: 3264

Posted: Thu Oct 18, 2007 8:02 pm Post subject:

LVNV has several different companies, LVNV, Sherman, Resurgent etc. Even if you pay a debt that they downgrade they just resale to another, who can now legally re-age the account and get more. Tomorrow I am finally tired of dealing with these jeckals and paying a lawyer to have 3 accounts (same debt removed from 1989). Original debt was $440 dollars and now they claim over $5000. Last year I went to a debt cosolidation service and repaid everything I owed. Several companies after gaining a 740 score have re-appeared as have selling off the accounts before final payment. Now my score is 590avg. I have paid my debt without making deals other than intrest and yet my score is now lower. LVNV/Sherman account for 100 points alone by re-aging debt. Do not ever deal with this company/

demitrix
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Debtcc Points: 100

Posted: Fri Oct 19, 2007 12:07 pm Post subject:

demitrix, I've learned the hard way that LVNV is bad about re-aging. I have an account that was settled and paid back in 2003. LVNV was the debt holder at that time. I just realized that they are still listing the debt as OPEN on my credit report, though the notation says, "Settlement accepted on this account, paid collection". They show last activity as 7/2001, but "date major delinquency first reported" is listed as 5/2007! This is showing up as a collection account on all my credit reports, and is bringing my score down....even though the account is no longer in collections!!! There are other accounts I settled on, and none of them show up as collection accounts....not even the one account I never settled on! This one account that I have taken care of is costing me more than the account that is still outstanding! Doesn't make any since, other than LVNV is just a shady business. I currently have a letter in to correct the information they are reporting...sent it off just the other day. As soon as I get that green card back, I'm going to start counting down the 30 days. If they do not correct the information by then, I, too, will be talking with an attorney, as I have counted two violations on each of my 3 credit reports...that is 6 total violations at at least $1,000 a piece!!! That is just for the violations! I'm sure, with the right attorney, I can prove up the damage they have caused in my interest rates on my current accounts being higher than they would be if LVNV had not falsely listed my account as a collection account (i.e., all the extra money I have had to pay).

SubiGirl

Joined: 06 Sep 2007
Posts: 114

Debtcc Points: 3264

Posted: Sat Oct 20, 2007 9:05 am Post subject:

Subi-Do you live in a state,such as Texas, where you cn give them 30 days to validate? Where I live, there is no time limit on them validating.I am waiting a year and a half, and many letters later, for validation from them..karen _________________ As long as you are alive, there's always hope

Bossy4455
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Joined: 27 Feb 2006
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Debtcc Points: 64117

Posted: Sat Oct 20, 2007 4:29 pm Post subject:

Yep, I'm in Texas...where State law is what these bozos have to follow! They have to correct in 30 days, or I get to come out of my corner swinging! Though I do not agree in a lot of the things our lawmakers in this state pass, at least we have these types of consumer protection laws and the lack of a state income tax! Those two things alone make all of the dumb stuff more bearable.

SubiGirl

Joined: 06 Sep 2007
Posts: 114

Debtcc Points: 3264

Posted: Sun Oct 21, 2007 10:50 am Post subject: LVNV FUNDING LLC

Htgt123 ... yes I have a debt with BEST BUY and it seems LVNV have purchased my debt from them..and their address is Houston, TX in my credit report.

Sheriff
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Debtcc Points: 100

Posted: Sun Oct 21, 2007 11:09 am Post subject:

Sheriff- read all you can about them- they have many addresses and DBAs. Be sure and get a Debt Validation letter to them, certified, return receipt, and make copies of everything you and they send! I have been dealing with them and their many companies for a long time-they aren't fun to work with--good luck..karen _________________ As long as you are alive, there's always hope

Bossy4455
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Joined: 27 Feb 2006
Posts: 5439

Debtcc Points: 64117

Posted: Mon Oct 22, 2007 4:19 pm Post subject:

Just got the green card from my letter to LVNV to correct what they are reporting on my credit report! Shows they received the letter on 10/19, so they have until 11/18 to fix it, or I'm getting an attorney for the multiple violations! I still can't understand what LVNV thinks they are accomplishing by reporting incorrect information to keep this matter on my credit report longer than it should! They get nothing from it! It is a settled account which I paid. It isn't like they can get any more money out of me, because the matter is closed. All they are doing is opening themselves up to liability by reporting the matter incorrectly to the credit reporting agencies! I know it is bad, but a part of me is hoping that LVNV does not correct my credit report, so I can sue them for damages. I'm sure I can sue for enough to pay off more than a couple of my current debts...hehehe. I've also got the green card back from S&P. It will be interesting to see the result of that one. This is the company that shows up on only one of my credit reports as owning the same account Genesee tried to claim they owned (yet Genesee never showed up on my credit report). Going back to some older reports, it looks like S&P has "owned" the debt for some time. If they come back as claiming they still own the account, and can provide proper validation, I'm going to be upgrading my complaint to the AG on Genesee as all out fraud!

SubiGirl

Joined: 06 Sep 2007
Posts: 114

Debtcc Points: 3264

Posted: Mon Oct 22, 2007 7:48 pm Post subject: No Love for LVNV

I just received a collection letter from a company known as Alliance One. According to Alliance One, we have a debt to Sears which dates back to 2000--but it was somehow just discovered in May, 2007. I just pulled a credit report which shows that our Sears account was paid off in 2002. But lo and behold, there's a debt on our records from ....LVNV for $1,025.35. I called Sears, and, just as we believed, we closed our account. I asked Alliance One to provide any old bills that would track the amount we owe. This company said it couldn't do so. This is a sham, and everyone reading this should be forwarned. Debt collectors need to give you the name of the company who has hired them, and any and all records verifying their claim. _________________ Register today to encash debtcc points.

Steaming Mad in NJ
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Debtcc Points: 100

Posted: Mon Oct 22, 2007 8:02 pm Post subject:

Steaming Mad...I would see if you can get it in writing from Sears that you closed the account in 2002 with $0 balance. I would then forward a copy of that letter to Alliance One and LVNV demanding that they validate the debt or remove it from your credit reports. LVNV will not validate, but if they do not remove the information from your credit report, I would report them to the FTC and your local attorney general. If this is in fact a debt you paid off, and Alliance/LVNV does not remove it from your credit report, you could potentially sue them for damages and violations!