Who is LVNV Funding LLC?
LVNV Funding LLC is a third-party debt collection agency with its primary offices in Las Vegas, Nevada.
LVNV Funding outsources the management of its portfolio of accounts to a company called Resurgent Capital Services who is a debt collector located in Greenville, South Carolina.
They may appear on your credit report as any of the following entries:
- lvnv collections
- lvnv funding llc credit one bank
Who does LVNV Funding LLC collect for?
LVNV Funding LLC is a debt buyer that operate throughout the United States but particularly in the New York area where there have been multiple complaints based on their collection practices.
They typically buy unsecured credit card debt from companies such as Bank of America, Best Buy, Capital One, Chase, Credit One Bank, Citibank, HSBC, Sears, Wells Fargo, and others.
You may see LVNV Funding LLC listed on your credit report as a collections account. This can happen if you owe the original creditor money and they’ve hired someone to collect that money.
Is LVNV Funding LLC legit or a scam?
LVNV Funding LLC is a legitimate debt collection company. However, they may repeatedly spam call, text, or email you.
How did LVNV Funding LLC end up on my credit reports?
LVNV Funding LLC purchases credit card debt at substantially reduced rates, sometimes for pennies on the dollar. In some cases, they even buy time-barred debts, which are those that can no longer be legally collected through court action. After debt buyers buy your debt, they usually report it to the three major credit bureaus.
It’s important to realize that just because LVNV Funding LLC is on your credit reports, it does not necessarily mean that you owe the debt. Errors in reporting, account numbers, the amount owed and other issues are common.
How can I remove LVNV Funding LLC from my credit reports?
LVNV Funding LLC collections can hurt your credit score and remain on your credit reports for up to seven years regardless of whether you pay it or not. Unfortunately, paying the collection could even lower your credit score.
However, it is possible to remove a collection account from your credit history before seven years.
(While debt collectors may not want this information to be widely known, it’s your right to be informed.)
Lexington Law is a professional credit repair law firm that works with people who want to fix their credit.
In addition to collections, Lexington Law helps you challenge (and possibly remove) other inaccurate information from your credit reports. These items include inquiries, late payments, charge-offs, foreclosures, repossessions, bankruptcies, and more.
Call Lexington Law now to learn more: (800) 220-0084
LVNV Funding LLC / Resurgent Capital Services Contact Information
LVNV Funding LLC
55 Beattie Pl
Greenville, SC 29601
LVNV Funding LLC
PO Box 10497
Greenville, SC 29603
Phone number: (888) 665-0374
Should I contact or pay LVNV Funding LLC?
Nothing good can come from speaking to a debt collection company on the phone. And making payments on the debt will reset the clock. As a result, it could harm your credit rather than improve it. However, sometimes it’s better just to pay the debt, especially if it’s new, and you’re certain that it’s legit.
The most effective way to deal with LVNV Funding LLC is to work with a credit repair professional. They help remove millions of negative items every year from companies like LVNV Funding LLC on behalf of their clients.
And they may be able to help you too.
Will LVNV Funding LLC sue me or garnish my wages?
It’s possible that a debt collector will resort to litigation and seek wage garnishment when attempting to collect a debt, but if you work with a law firm like Lexington Law, you have nothing to worry about.
They will help you dispute the LVNV Funding debt with the credit bureaus and possibly get it removed from your credit report. It’s also possible that you never hear from or have to deal with LVNV Funding LLC again.
Call Lexington Law to learn how they can help you avoid debt collection lawsuits and remove negative items from your credit report that will significantly improve your credit scores.
Some states allow wage garnishment, while others do not. If you are in a state that does not allow wage garnishment, it is illegal for a debt collector to threaten to garnish your wages.
It is also illegal for LVNV Funding LLC to make any claims they cannot or will not follow through on. This includes threatening to sue you or foreclose on your home.
LVNV Funding LLC / Resurgent Capital Services Complaints
Most collection agencies have numerous complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most consumer complaints are about inaccurate reporting, harassment, or failure to verify a debt. If a debt collector is harassing you, you may want to consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). Lexington Law knows that you have rights, and LVNV Funding LLC does too.
5 Steps to Remove LVNV Funding LLC From Your Credit Reports
Fortunately, there are several simple ways to protect yourself. If you have collections from LVNV Funding LLC on your credit reports, and you need to remove them, follow these 5 steps:
Request full debt validation in writing. LVNV Funding LLC has a history of inaccurate and incomplete records when it comes to their debt collection practices. If they cannot prove that you owe the debt and that they have purchased the debt, they must remove the collection account from your credit reports.
LVNV Funding LLC has 30 days to respond to your request for validation. If they don’t, they must remove the negative information, regardless of whether the information is accurate.
Keep an eye out for disparities. Review your credit reports for any other negative items, and keep an eye out for duplicates that could indicate the debt has been bought and sold multiple times.
If you see several accounts from different companies, it’s a red flag, and you’ll need to dispute the debt with each collection agency listed on your account.
Double-check any response you receive. Do the account numbers match up to your records and what LVNV Funding LLC says you owe? Do the dates on the accounts match up? Are there other discrepancies? No error is too small to dispute.
Put your dispute in writing. If LVNV Funding LLC is still insisting that the debt is valid, you’ll need to file a formal dispute with the credit bureaus, listing all the relevant information you’ve found so far.
If there are a lot of collections, it may be easier to hire an experienced credit repair specialist to help you get your credit back in order.
Be ready to negotiate a debt settlement. If the collection remains on your files after a dispute, you still may have some leeway. Oftentimes, these debts will be past the statute of limitations to sue (a.k.a. time-barred debt).
If that is the case, and the debt has not passed the reporting limit, you may be able to negotiate a ‘pay for delete’ agreement. This is where you offer to pay a lesser amount in exchange for having the account removed from your credit profile.
Your Rights When Dealing with LVNV Funding LLC
Debt collectors must abide by state and federal laws in the United States. For example, the Fair Debt Collection Practices Act prohibits a debt collector from using abusive, unfair, or deceptive practices. In addition, the FDCPA provides you with many rights to ensure that collection agencies don’t take advantage of you. In particular:
- It is a violation of federal law for LVNV Funding LLC to report inaccurate or incomplete information on your credit report.
- You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. By law, they have 30 days to prove to you that the debt is really yours and the total amount is accurate.
- LVNV Funding LLC may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
- LVNV Funding LLC must be honest about who they are and what they are attempting to do. They must notify you that they are a debt collection agency both orally and in writing.
- LVNV Funding LLC cannot threaten to have you arrested or imprisoned over unpaid debts.
Avoid the phone. Never talk to a debt collector on the phone. The less they know about you, the better.
Politely tell LVNV Funding LLC it’s your policy to deal with everything in writing. Ask for a letter with details about the original debt, then hang up. If they keep calling, send them a cease and desist letter.
Record their phone calls. If you must deal with a debt collection agency on the phone, record them. Thirty-five states and the District of Columbia allow you to record your phone conversations secretly.
In the other 15 states, you can record with the other party’s permission. If you tell the debt collector you intend to record, and they keep talking, consider it permission. They will usually hang up.
Don’t believe what they say. Debt collectors are known to make false threats, lie, and tell you whatever they need to tell you to get you to pay the debt.
Don’t attempt to hide money. Hiding money or assets from a legitimate debt collector is illegal if you owe them. However, bank account and credit card information should be kept private.
Don’t ignore them. You can do things on your terms, but ignoring the situation will not make LVNV Funding LLC go away. Ignoring them sets you up for a possible lawsuit.
Know Your State’s Statute of Limitations. Each state has a statute of limitations on debt. Once your debt reaches a certain age, it is considered “zombie debt,” and you are no longer legally obligated to pay it. The age limit varies from state to state, but it’s typically around 4-6 years.
A collection agency is still allowed to contact you about these debts, but they can no longer sue you for them, and you are not required to pay them.
Remove LVNV Funding LLC Collections From Your Credit Report Today!
Lexington Law Firm can assist you in disputing LVNV Funding collections. They have over 18 years of experience and their clients saw over 6 million removals on their clients in 2021 alone.
If you’re looking for a reputable credit repair company to assist you with inaccurate collection accounts and repair your credit, consider working with Lexington Law.
They have helped many people in your situation. Give them a call at (800) 220-0084 for a free credit consultation to see what they can do for you.
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