LVNV Funding LLC
About LVNV Funding LLC
According to its website, “LVNV Funding LLC, ("LVNV") purchases portfolios of both domestic (U.S.) and international consumer debt owned by credit grantors including banks and finance companies, and by other debt buyers. The management of purchased assets is outsourced to Resurgent Capital Services LP (Resurgent), a third-party specializing in the management of these types of consumer assets. Resurgent is a manager and servicer of domestic and international consumer debt portfolios for credit grantors and debt buyers, including LVNV, and performs these services on their behalf. Resurgent, a licensed debt collector, may perform these activities directly, or in most cases, will outsource the recovery activities to other, independent, specialized, licensed collection agencies."
LVNV Funding LLC regularly files credit card and other debt lawsuits. They will then attempt to obtain a judgment and pursue post-judgment collection efforts.
Is LVNV Funding LLC a Scam?
LVNV Funding LLC is not a Scam. It is a legitimate debt buying and collection company, so it is important to take collection action by them seriously. However, even though it is not a scam company, it is important to ensure that there is evidence and documentation to support the balance LVNV Funding LLC claims is owed, to ensure that LVNV Funding LLC owns the account in question, and to ensure LVNV Funding LLC has followed state and federal law when attempting to collect a debt.
What Should I Do If LVNV Funding LLC Sues Me?
- It is important to ensure that an answer to the lawsuit is timely filed after you are served with the lawsuit. DO NOT IGNORE A LAWSUIT!
- Ensure LVNV Funding LLC has proof of the claimed debt amount and ensure the amount is accurate (confirm all payments and offsets have been applied)
- Ensure LVNV Funding LLC has sufficient evidence to prove ownership of the debt
- Ensure suit was filed within the statute of limitations
- Assert all other possible affirmative defenses
- Review all collection activity by LVNV Funding LLC to ensure there are no potential counterclaims for violation of the Fair Debt Collection Practices Act or Texas Debt Collection Act
- Determine whether to fight the case or pursue a settlement resolution
You may want to seek the advice of a knowledgeable consumer defense attorney to ensure your rights are protected and ensure you do not end up with an adverse outcome that could have been avoided or minimized. Contact us for a free consultation!