LVNV Funding LLC

People got a letter from a collection attorney on behalf of LVNV Funding LLC

There are hundreds of factors in the debt laws that allow the practice of buying junk debts to flourish. How many other industries allow someone to file suit over a “contract” without substantiating those claims by submitting evidence of said contractual relationship? That is exactly what companies like LVNV Funding do. They try to find consumers that they can scare with collections agencies and attorney into handing over money that they most likely legally do not owe.

By going through an intermediary such as collection agencies and attorneys, LVNV Funding LLC tries to side step any liability to comply with the principal purpose of the Fair Debt Collection Practices Act. They are clearly not trying to communicate fairly, openly, and honestly with the consumer. In fact, by acting through their intermediaries, they are able to continue to initiate attempts to collect money from consumers without having to fully comply with federal laws.

Resurgent Capital Services LP coordinates the collection of debt for creditors and debt buyers using a network of independently owned collection agencies and law firms. They have been hired by LVNV Funding to directly collect the outstanding funds or outsource the recovery of these debts.

While we are not giving legal advice here and are not professional attorneys, we do acknowledge that some debts are just and valid. In those situations it is completely fair for a collections company to get involved. However, in my situation with a previously discharged debt magically re-appearing years later, I am positive I was not the first or last consumer to be bullied with this tactic. The bigger question is how many of those consumers actually pay up?

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By taking advantage of the credit reporting agencies’ good faith principle of accepting any statement from a business, LVNV is able to put pressure on consumers to pay by holding their credit scores hostage. Basically, the easiest way to get the LVNV line off of your credit report is to settle with them and pay it. Unfortunately, it is clear that this is the route thousands of consumers choose. Otherwise, these companies would cease to exist because any potential money to be made would be gone.

It is a shame that it is so easy for these LLC’s to operate as a “real company” in the eyes of the credit bureaus. The damage they do is real. Even though 99% of the time they do not have a contract to prove the debt, they still report it and it costs you money for many, many years.

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