LVNV Funding LLC: What to do if you find them on your credit report
Rate This Article:LVNV Funding LLC is a collection agency that works for creditors to collect on charged-off debt accounts. However, most of the time LVNV appears to forward their accounts to various other collection agencies and attorneys for collection instead of managing the accounts themselves. If you want to know what to do if you find LVNV listing on your credit report or how they treat consumers, check out the topics given below:
- What to do when LVNV Funding shows up on your credit report
- How LVNV Funding treats consumers and reports credit information
- How to contact LVNV Funding LLC
What to do when LVNV Funding shows up on your credit report
Here's what you need to do when LVNV account shows up on your credit report or when a collection agency (CA) insists that you pay a debt they acquired from LVNV.
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- Check if the Statute of Limitations (SOL) has expired: If the SOL has expired, then you don't have to worry about them taking you to court. If yes, then send an SOL Expiration letter to the CA asking them to stop contacting you.
- Request a validation of the account: If you find that the SOL hasn't expired, and you're not sure whether you owe money to LVNV Funding LLC, send a request to validate the debt. Once you have proof that you owe the balance on the account, negotiate a payment agreement or a settlement agreement.
- Dispute the debt: You need to dispute the account if:
- You do not have an account with LVNV: If you didn't open the account LVNV Funding LLC wants you to pay on, you should co-ordinate with the credit bureaus and have the listing deleted from your report.
- You've already paid the bill: In this case, dispute the item with the collection agency and the CA will verify it with your original creditor. You should also co-ordinate with the credit bureau so that the account shows up as "Paid" on your credit report. However, you'll have to provide proof that you have paid the bill.
- The account shows up on your credit report even after 7 years and 180 days: Usually accounts with negative remarks shouldn't reflect on your credit report after 7 years and 180 days from the date of the first delinquency. If your account shows up even after this time period has expired, you should contact the credit bureaus and have the listing removed. You can also sue the collection agency in small claims court for violating the Fair Credit Reporting Act.
How LVNV Funding treats consumers and reports credit information
Check out these LVNV Funding complaints made by community members and guests in the DebtCC forum.
- Filing lawsuit for wrong debt: One consumer reports that LVNV Funding LLC has filed a lawsuit against his old mother for a bill which she didn't owe. The lady had no idea as to which company has transferred credit information on her name to LVNV. Learn more...
- No response to validation letters: Debtors complain that they receive repeated phone calls from the attorneys associated with the CA but when they send validation letters, the CA or the attorneys do not respond. One consumer sent a validation letter to one of the attorneys and after 2 months, he received a letter of response from a different attorney. However, the amount mentioned in the letter of response was similar to the amount demanded by the attorney to whom the validation letter was sent. Check out these further details...
- Account re-entry on credit report after 7 years: LVNV Funding LLC may purchase a default account from a creditor and then report it on your credit report as a new charge with a new date. This may happen even though the negative listing has stayed on the credit report for 7 years and is about to be erased from the report. Learn more...
- Reporting debts which are not owed: Many believe LVNV Funding LLC harasses people for money and reports outstanding balances to the credit bureaus even though consumers may not owe the money. Find out more...
One consumer is said to have received a summons even though the CA promised to look into the matter when they were sent the validation letter. However, the papers were not stamped or signed by a court clerk. A few days later, the consumer learned that his wages would be garnished. But he couldn't just verify whether he actually owed any money. Learn the details... - Issue with disputed account: A consumer received a call from LVNV Funding LLC for the money he owed on an MCI account. The CA couldn't give him the account number, phone number, and other account details. The consumer had received a bill earlier from MCI, but he had refused to pay it and had disputed the amount.
However, LVNV made sure that the account showed up on his credit report even though it had been more than 7 years. The consumer asked the CA to co-ordinate with the credit bureau so that his credit report showed "Account disputed". But LVNV didn't agree and insisted that they would only clear his credit up if he would settle the bill. Find out more...
How to contact LVNV Funding LLC
If you need to contact LVNV Funding collection agency regarding payment issues or to dispute the account held by them, use the contact information given below:
LVNV FUNDING LLC
P.O.Box 3038
Evansville, IN 47730
Telephone: (886) 861-8182, (866) 464-1183
Fax: (812) 428-3523
Sub: LVNV Funding LLC: What to do if you find them on your credit report
Thu, 08/02/2012 - 13:59
Tell me more about the statutes thing and where I can find them [color=red]Email removed as per forum rules-Mike[/color]
I recently recieved a debt letter from capital mgmt. services (working for lvnv funding. i was told that they have started to file against me in the county where i live. I am on disability income only and I need to know if there is a way to find out how to be in court on the day they attempt to get a judgement against me. Also, if I pay $10.00 per month, will that change the statue of limitations on filing a judgment against me? i was told they can sieze my accounts if i ever go back to work.
Posts: 450
Credits: 9633.05 Send message to anthony
If you make even a small payment towards the debt account, the SOL will be renewed from the beginning. Did the company validate the debt account they are collecting for? It must be in writing giving out the complete details of your original creditors and the payments done in the past. It must be in writing as mentioned in the fdcpa. Read this
http://www.ftc.gov/os/statutes/fdcpa/commentary.htm#809
Ihave recived a letter that say I owe what!
Posts: 496
Credits: 7333.15 Send message to keystrokes
Don't fall into the catch of the collection agency. You don't know if the debt that has been put in front of you is at all legitimate. Ask the CA to validate the account in writing. It must give you the complete information about the debt you owe. Read the FTC website stressing on the need to validate the account before you pay anything to the CA.
http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm#809
I sent in the death certificate and now i neeed the total so that i can pay it all
Here's a follow up letter being sent to LVNV. If they don't comply, They're going to be sued.
Quote:
P.O. Box 10584
Greenville, SC 29603
To Whom It May Concern:
I am writing this as a follow up to a letter I received from you on 7/15/06 in response to the letter that I sent your company via certified mail on 7/3/06. While I appreciate the return letter you sent me, it still doesn't rectify the problem here. Your letter has failed to validate anything to me. As stated in my previous letter along with numerous recorded conversations that I've had with your customer service representatives, this account is reporting completely wrong and I don't believe that it was mine. It's reporting completely and blatantly inaccurate and has caused me a great deal of stress due to being declined credit and a home equity loan because of your purposeful and erroneous reporting. If I don't receive confirmation within fifteen days that you've deleted this tradeline from all three Credit Bureaus, I'll have no choice but to report this incident to the FTC, BBB, and Attorney General in both my State of Texas along with the State AG of South Carolina. In case you're not aware, section 1681s-2(b) of the Fair Credit Reporting Act creates a cause of action for a consumer against a furnisher of erroneous credit information (Nelson v. Chase Manhattan).
I honestly feel that I've exhausted every possible option in rectifying this situation with LVNV. The next step will be through my legal counsel as I will spare no expense in order to rectify this situation. There's a total of at least nine violations on my credit report from your company alone. This is the last letter that I'm going to send to LVNV, the next one will be through my attorney along with his demands. You have 15 days from receipt of this letter to send me a confirmed deletion from all three credit bureaus. If I receive this confirmation within 15 days, no further action will be taken against LVNV. If I don't receive confirmation, I will report LVNV to both Attorney Generals, along with the BBB and FTC. I will also be filing a lawsuit in Hidalgo County, Texas for the numerous violations.
I look forward to a timely and amicable resolution to this matter.
Sincerely yours,
my name and address
I had a account charge-off in 2001. LVNV purchased this debt, I noticed they are adding interest fees and reporting the debt as a factoring account and also they list I am late 120 days and on top of that, they list that the account was opened by me in 6/2003 when in fact the account was opened in 9/1999. What can I do to get them straight. I wanted to pay the account but I was told it would not help my credit score. I don't mind accurate facts being reported but inaccurate made up intentional lies--I will not stand for that. Someone please help. I live in Texas and I am not a deadbeat, I just ran into some hard times about 6 years ago and couldn't afford to pay the account. Thanks and any comments will be appreciated.
Posts: 5800
Credits: 74318.7 Send message to Bossy4455
I Hate LVNV-Way to go-let me know what happens.LVNV bought my Sears debt that was opened in 1982 and nothing charged on it for 10+ years,the only problem is,we were stupid and have been paying Sears for all these years,probably thousands and thousands in interest,finance,etc. I repeatedly tried to work out payments,just got verbally abuse. Also,they have not validated my debt as the ones who are authorized or anything. I,too,sent a follow up letter to inquire about the DV letter,but no response. Theyalso broke numerous fdcpa reg.,which I pointed out to the in my follow up letter-good luck :D ...Karen
Posts: 496
Credits: 7700 Send message to IncredibleHelp
Carol, dispute the item with the credit bureau. They will pull information from the original company as well as from the CA and update your credit file with correct information. Since this account took place long time back, you should also check the SOL of the state where this account was opened. It seems that by changing the date of reporting, LVNV has tried to re-age the accounts. This is illegal as per the FCRA laws. If you are able to prove out with your facts, you can file a legal case against the company and compensate you for the damage. Try dealing with the original company also for getting the original facts.
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