LVNV Funding adding interests on the total debt.
Date: Thu, 02/02/2006 - 00:39
Correct me if I'm wrong, but I thought that once your account goes to collections, it stops earning interest. So if this is the same account why did the balance go up so much? Also, has anyone ever dealt with this company, LVNV, before, do they settle easily or at all for that matter? I'm trying to clean up my husband's credit while he's in Baghdad so maybe we'll be a little better off when he gets back. But I've never dealt with creditors before and frankly I'm quite nervous. Any help is much appreciated.
collection agencies can add interests on your debt amount if it
collection agencies can add interests on your debt amount if it has been mentioned in the contract paper that you signed with your creditor. You must review the fine print once again and see if the creditors have mentioned this policy.
Also, the CAs are allowed to charge the interest rates fixed by the attorney general of your state. They can't charge more than the permissible interest rates.
Ask LVNV to give you an itemized statement of the debt in writing so that you can review it. You can also go through the threads given below and read others' experiences with LVNV.
http://www.debtconsolidationcare.com/forums/lvnv.html
http://www.debtconsolidationcare.com/forums/workon-credit.html
interest
Ok I work for an agency that has LVNV as a client. It is not the agencies that add the interest to the balance it is the creditor. When you sign the contract for the credit it states that you are responsible for all charges, interest...of course you can request a "Below Blanket Settlement" and for the most part they will play hard so stand your ground if you take this route....
civil suit
a company bought this account 2006 it was charged off in 2003 I am on ssi disabilityn I get $603.00 per month,I can't hardly live on that,I can not afford to pay anything on this account,the company that bought it has filed a civil suit!I am so sorry that I can't pay my debt,Life deals us some bad luck
Marilyn, you can try covering your base legally and stop the law
Marilyn, you can try covering your base legally and stop the lawsuit against you. All states in United States have specific statutes within which the debit needs to be paid. If your debt is past the SOL period, you can legally refuse to pay it. The company can't force you in making the payment. In your post, you said that the account got charged off in 2003. Check the date of last activity and verify the SOL period. The statutes of that state will be considered where this account originally occurred. Do let us know after you have cross checked the SOL period.
GERPES , what cure?
the physicians on the agenda c trick said this close by me herpes ,
er as this cures?
LVNV are a bunch of &^%$#@@%&(*(, Ok, Got that out. Basically
LVNV are a bunch of &^%$#@@%&(*(, Ok, Got that out. Basically they can either charge you interest if it is in the contract or by what your state allows. Oh and Ash is wrong. Collectors can and DO charge interest. Once that account was charged off, they washed thier hands of it. They do not add on any more fees and/or interest. LVNV came along and bought the account and THEY started adding the fees.
You need to send a DV request, demand to see the contract you signed. Demand to see all the statements, demand to see their right to collect. You have this right, backed up by law.
