Collection Agencies and Creditors

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

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Author

Posted: Wed Dec 19, 2007 4:13 pm Post subject:

Check the first link in my signature for a debt validation letter template. Send it certified mail, return receipt requested. They have to validate before they can proceed with any further collection activity. Also dispute it with the credit reporting agencies to which they have filed with. _________________ Regards JCEMT Here is a list of resources for the community Site TOS

JCEMT
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Joined: 10 Sep 2007
Posts: 2996

Debtcc Points: 27124

Posted: Fri Dec 21, 2007 9:20 pm Post subject:

This company buys debts. Before they bid on a package of debts, they would run a credit check to see if they might get their money back. Possibly a Citibank Visa or mortgage is selling your debt to LVNV _________________ Register today to encash debtcc points.

Geo
Guest

Debtcc Points: 100

Posted: Fri Dec 21, 2007 10:19 pm Post subject:

Isn't it a FCRA violation to run a credit check before actually owning the debt?

Guest

Debtcc Points: 100

Posted: Sat Dec 22, 2007 8:45 am Post subject:

I have never heard about them doing a credit check before they buy the bunles of debt--that would be alot of checks!! LVNV handles debt from alot of different places--they have many DBAs, also. In our legal new I have seen them take alot of people to court. Don't know if they won-can't imagine them winning as many violations as they break. That's why it is so important to become educated in debt and your rights. I am not saying to not pay your debts-quite the opposite, just make sure that you are paying the correct person and the correct amount,..Karen _________________ As long as you are alive, there's always hope

Bossy4455
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Joined: 27 Feb 2006
Posts: 5470

Debtcc Points: 64269

Posted: Sat Dec 22, 2007 1:09 pm Post subject:

I like to keep it on my terms. I will pay what I owe, but I won't put myself in a position of financial hardship doing so. I will pay what I can afford to pay when I can. _________________ Regards JCEMT Here is a list of resources for the community Site TOS

JCEMT
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Joined: 10 Sep 2007
Posts: 2996

Debtcc Points: 27124

Posted: Sun Dec 23, 2007 9:49 am Post subject:

Before I came to this forum, that's what I tried to do with LVNV-I wanted payments set up, they were very reasonable,etc- but no go. Now 2 years later I am here, found out that I have paid somewhere in the neighborhood of over 11-14 thousand on a $780. credit limit, and they have passed it around for 2 years now. If they would have gone with my terms 2 years ago, the stupid money they were wanting would have been paid off _________________ As long as you are alive, there's always hope

Bossy4455
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Joined: 27 Feb 2006
Posts: 5470

Debtcc Points: 64269

Posted: Sun Dec 23, 2007 12:14 pm Post subject:

WTF?! How did it get that high? _________________ Regards JCEMT Here is a list of resources for the community Site TOS

JCEMT
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Joined: 10 Sep 2007
Posts: 2996

Debtcc Points: 27124

Posted: Sun Dec 23, 2007 5:30 pm Post subject:

JCMET- It got that high because we were stupid!! We opened the account in 1984, or somewhere around there with a $780 credit limit. Fast forward, we just continue to pay on the cc, sometims late-so fees, interest adds up! We haven't even charged on it in probably 14 years, maybe more. I thought as long as they sent you a bill with a balance, you paid it-I qiestioned them many times with no luck-so stupidly we contined to pay- we may have even payed them more than that- makes me too sick to think about it karen _________________ As long as you are alive, there's always hope

Bossy4455
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Joined: 27 Feb 2006
Posts: 5470

Debtcc Points: 64269

Posted: Sun Dec 23, 2007 6:51 pm Post subject:

Any chance of getting some of that overage back, Bossy? That's a lotta bread to be out on account of their greed.

unclewulf
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Joined: 27 Nov 2007
Posts: 2455

Debtcc Points: 19576

Posted: Sun Dec 23, 2007 6:52 pm Post subject:

unclewulf
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Joined: 27 Nov 2007
Posts: 2455

Debtcc Points: 19576

Posted: Mon Dec 24, 2007 8:23 am Post subject:

Yeah- tell me about it!! Unfortunately, this was all paid to the OC. But when I do the debt validation, I put theses fugures in and tell the CAs that I believe they owe me the extra since they bought the debt karen _________________ As long as you are alive, there's always hope

Bossy4455
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Joined: 27 Feb 2006
Posts: 5470

Debtcc Points: 64269

Posted: Mon Dec 24, 2007 6:06 pm Post subject:

I'd be interested to hear how that works out. Good luck.

unclewulf
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Joined: 27 Nov 2007
Posts: 2455

Debtcc Points: 19576

Posted: Tue Dec 25, 2007 8:02 am Post subject:

Thaks Unc--they just stutter when I tell them that-slo that I had been paying on something for a quarter of a century _________________ As long as you are alive, there's always hope

Bossy4455
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Joined: 27 Feb 2006
Posts: 5470

Debtcc Points: 64269

Posted: Tue Dec 25, 2007 8:20 am Post subject:

Well.... I guess you could start calling them 37 times a day and like that. Or maybe offer them a settlement where they give you maybe 80 percent to keep you from referring the matter to your legal department. [BTW, Merry Christmas, Bossy!]

unclewulf
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Joined: 27 Nov 2007
Posts: 2455

Debtcc Points: 19576

Posted: Tue Dec 25, 2007 8:25 am Post subject:

Thanks Unc!! That is too cool--I am going to talk with them and tell them I have a one time settlement offer and if they don't take it, I am downloading them And they have to send me the money with a personal check,nothing else _________________ As long as you are alive, there's always hope

Bossy4455
Moderator

Joined: 27 Feb 2006
Posts: 5470

Debtcc Points: 64269

Posted: Tue Dec 25, 2007 8:30 am Post subject:

And when you're done with them, gimme a call. I'll give you three-tenths of a cent on the dollar for that old debt. I wanna get rich, too!