Questions about Asset and LVNV

Most of the time, no. Unless they have the original signed contract then no. Companies like LVNV funding grossly inflate the rates, sue people and get away with it. If you question it in court IF they sue you they most likely don't stand a chance.

In that case it would go from the date of charge-off to the date of judgment and would be the interest rate allowed by your state. After judgment rates are usually different and higher but still regulated by the state you live in.

That is why you request validation. Not only do you want to know if they have the right to collect but you want to know if the amount you are paying is correct.

BTW, you said they where charged off in 2002? have you made any payments since then? What state do you live in? If they are past the SOL do not make a payment. They cannot sue you and if they do you can counter-sue them and have their claim thrown out. Also they are getting close to falling off your credit report if the debt was charged off in 2002. If the debt collector re-aged the debt and stays on longer, dispute it. If they verify it and it stays, SUE THEM.

You can get a good attorney at NACA.net

you can go through this discussions on also to know more about them.
LVNV and Asset Acceptance

I am in Washington.

I haven't made any payments since August 2002.

The balance at default was $2200 and now is $6640, for one account, and the other account, the balance was $5455, and now it is listed as $16,000 something on my credit reports. :shock: :shock: :shock:

OK That's a good thing then. Just give it time. The SOL in your state is 3 years open accounts and 6 years on contracts. So either way, they can't sue you by law. If they contact you all you have to do is send a cease and desist letter telling them the alleged debt is passed the SOL and not to contact you anymore.

As for the balances, you could try disputing it with your credit reports but they are due to fall off at the end of this year/beginning of next year anyway. I am not sure on the interest charged, it does sound high but it has been 7 years so factor that in.

I would just sit back and relax. If you dispute them on your credit report, you will most likely wake up the dead and LVNV funding and all their other zombies will be hounding you. That is my take on it and others might think differently.

Please never back down from LVNV or Javitch, Block & Rathvone...

They buy portfolios of bad debt with minimal information for pennies on the dollar. They can never validate debt. They sue you in hopes you wont answer...if you do answer they voluntarily dismiss without prejudice so they can turn around and resell the "debt". This is why when they do voluntarily dismiss it is very important to petition the court for a with prejudice dismissal. It is free to do all this by the way.

If I tell LVNV or and debt buyer the old debts are SOL, then they can send me a 1099c. I will continue to deny the debts are mine. Besides, my debts' do have high balances like they try to collect. Must not be my debt, my balances were low.