LVNV Funding LLC is a very large debt buyer and collection agency. If you see LVNV Funding on your credit report, read on to learn more about this company.
You Might Owe LVNV Funding Money
Never heard of LVNV Funding? Confused because you have never taken out a loan from LVNV Funding? That does not mean that you do not legally owe them money.
Debt collectors such as LVNV Funding buy up bad debt from other creditors. Once LVNV buys that debt, they can legally collect it from you. This is despite the fact that you don’t have any formal relationship with the company.
Don’t Assume That You are Legally Required to Pay LVNV Funding
Some debt collectors purchase accounts that are too old to legally collect. These debts are past the “statute of limitations.”
However, a debt collector can still legally ask that you voluntarily pay an old debt. The statute of limitations just prevents the collector from legally enforcing the debt in court.
Some people make the mistake of voluntarily paying a time-barred debt. This is a bad idea! Never pay a debt that the creditor cannot legally enforce.
Sued by LVNV Funding? Don’t Panic!
Sometimes debt collectors such as LVNV Funding will file a lawsuit. They are seeking to enforce their debt against the debtor. Ultimately, LVNV Funding wants to obtain a judgment.
With a judgment, LVNF Funding can garnish wages, record liens against property, and levy bank accounts.
Some people panic once LVNV files a lawsuit. Don’t do that! Hiring a lawyer to fight LVNV Funding in court can help prevent judgments, garnishments, and foreclosures. Bankruptcy might also be a good option.
Don’t delay any longer. If LVNV Funding is suing you or already has a judgment, please call my office at (916) 333-2222 to discuss your options.