LVNV Funding

DO NOT PAY IT

hi--

what state do you live in? It is possible that the statute of limitations has run out on this debt.

Welcome :D LVNV is a junk debt buyer. They buy debts from others. Probably what happened is, the balance remaining on you car was sold and they bought it. If you can tell us what state you are in we can direct you to the SOL period to see if it has passed. If you make a commitment or payment to them, it starts the SOL over. LVNV is very difficult to work with, and have used alot of scare tactics. Deal with them only via mail. If you have any questions, please ask..Karen

Hi aenglish

IF possible, do NOT talk to them on the phone. You can research and find the statute of limitations for your state. For example, mine is 6 years for these type of accounts. If my last activity (payment for example) was in May 2001, the statute has passed. They can try to collect but legally you do not have to pay.

Making a payment, even a verbal or written admission of the debt, can restart the statute of limitation (SOL).

First, spend hours and hours on this board and read and learn. Go the Bud Hibbs website and look for LVNV under "America's Worst collection agencies".
LVNV will probably submit a new collection account with the credit bureaus, so be prepared.

Second, send a validation letter (many examples on this site) or hire and attorney to do this. I decided to hire and attorney!

Yes, I've heard that LVNV is another one of those who realize the odds are greatly stacked against them when they learn you have an attorney.

To aeanglish, send a letter (return reciept) demanding proof of the validity of the debt. Demeand that they show how they calculated what they say you owe as well. Odds are that they can't show anything. Demand proof that you have some contractual obligation to pay LVNV too. Never pay a junk debt buyer a dime. You are by no means morally obligated to pay junk debts.

Hi again--

Use this link to look up your state and see what the SOL is there.

http://www.fair-debt-collection.com/SOL-by-State.html#26

As for the entry on your credit report, I would send them a DV letter immediately, certified mail RRR. If you need a copy of a letter to use, let me know and I will post up one that I use myself. If they cannot or will not validate the debt, then you can later respond to them with another letter, in which you demand that they immediately remove the entry from your credit reports because they were unable to properly validate it. AT that point, I would also dispute the entry with the credit bureau itself. Tell the credit bureau that you requested validation and the creditor refused to provide it. Ubder federal law, namely the Fair Credit Reporting Act, a debt that is not or cannot be validated properly upon request MUST be deleted from your credit report.

Finally, if you get no validation, and they still will not remove the entry, then inform them that you will have no choice but to pursue legal action against them for violating the FCRA(and in the case of the collection agency, also for violating the fdcpa).

I live in Missouri, but the original debt was originated in Nevada in 1999, I don't know if the statute of limitations applies to your current state of residence or where you lived when you originally acquired the debt, or where you lived at the time of default?

p.s. thank you all for your helpful responses. I have been beating my brains out over this stuff.

In the case of an automobile, the state where the contract was signed if the SOL. That's 6 years in Nevada. If it was unsecured debt (such as credit card), your state of residence would apply. Your best bet is to send a letter to LVNV demanding full validation of the debt and proof of any contractual obligation you might have to LVNV.