“Why Is LVNV Funding Contacting Me?”
Are You Being Contacted By LVNV Funding?
At Halvorsen Klote, our clients will frequently ask us why a company that they have never heard of before has contacted them. We get this question most commonly about LVNV Funding. LVNV Funding is a large, international collection agency headquartered in Greenville, South Carolina. Most of LVNV’s business involves buying old debt from various creditors. LVNV uses several different companies to help it collect these old debts. Some of these companies include Resurgent Capital Services and Aegis Receivables Management Inc., etc. If LVNV has bought one of your delinquent loans or debts, you may receive a call from one of these collection agencies or a similar company.
LVNV Funding is what is known as a “debt buyer.” It does not lend money and is not an original creditor like credit card companies or banks. Instead, it buys defaulted accounts from original creditors like Bank of America, Capital One, Chase, or other creditors.
Debt buyers are also considered debt collectors and have to comply with the Fair Debt Collection Practices Act (FDCPA) as well as state debt collections laws.
If you have received collection letters from LVNV Funding, these documents can be confusing. The letters may tell you who the original creditor is, who the current owner is, different account numbers, and there might even have been other debt buyers who owned the account before LVNV Funding. To protect your rights, it is vitally important to save any documents. These documents can serve as evidence for your case! Without evidence, you may not be able to prove that there was any wrongdoing by the debt collector.
Consumers often ask us, what are debt collectors prohibited from doing? Well, there are a lot of different actions that can violate the FDCPA. Some of these actions include: telling you that you still owe an amount you already paid; they might not send you proper notices; they might not properly validate the debt; they might not give you the mini-Miranda; they might even try to collect interest on the account that you are not liable for. The list goes on and on.
So, what should you do if LVNV Funding is contacting you? If you are only receiving collection letters and phone calls, you can request what is called “validation” of the debt, which is requesting the proof that they actually own the debt in question. This is your right under the FDCPA! You can also request that they stop contacting you at home and at work. If they continue to contact you, or if they continue collecting before they send validation, this may violate the FDCPA.
Get in touch with us now for a FREE CONSULTATION and find out how Halvorsen Klote can help.
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