Sued by LVNV Funding LLC? 5 Steps to Take Now
If you have been sued by the company LVNV Funding LLC, you are not alone.
Who is LVNV Funding LLC?
LVNV Funding LLC is a debt collection agency. According to the Florida Division of Corporations, LVNV Funding’s principal address is 6801 S. Cimarron Road, Suite 424-J, Las Vegas, Nevada 89113.
The Consumer Financial Protection Bureau complaint database reflects 901 complaints (as of 7/8/2021 – with a 3 year lookback).
Who is Resurgent Capital Services?
LVNV Funding LLC outsources its accounts to a management company called Resurgent Capital Services. According to the Florida Division of Corporations, Resurgent Capital Services’ principal address is 55 Beattie Place, Suite 110, Greenville, South Carolina 29601.
Resurgent Capital Services is BBB accredited. They are given an “A+” rating by the BBB in spite of 154 complaints in the last 3 years (as of 6/29/2021).
The Consumer Financial Protection Bureau complaint database reflects 4,978 complaints (as of 7/8/2021 – with a 3 year lookback).
Why is LVNV Funding LLC suing me?
LVNV Funding is a debt collection agency that often purchases debt from other companies. Sometimes, after an account goes into delinquency, the creditor decides to sell the debt to another party. Therefore, if LVNV Funding has sued you, it is probably because they now own a debt that you once owed to another creditor.
Is there a class action lawsuit against LVNV Funding LLC?
Consumers have sued LVNV Funding a number of times for claims of improper collection practices, including suing in over a dozen class action lawsuits across the country.
Many of these class action suits claim that LVNV Funding did not accurately convey the amount of the debt owed or that it failed to give an itemized accounting of the debt owed, including a 2017 suit filed in New Jersey and a 2017 suit filed in New York.
Several other class action lawsuits claim that LVNV Funding misled consumers regarding the fact that they could not sue the Plaintiffs because the debt was too old. In a 2018 case filed in Texas, Plaintiff states that LVNV Funding did not “disclose that the previously-lapsed statute of limitations to file a lawsuit will recommence upon a payment made by the Plaintiff.
How to beat LVNV Funding LLC?
First, don’t bury your head in the sand! Florida Courts are divided into 3 levels depending on how much the lawsuit is for: small claims, county court, and circuit court. In small claims cases, a defendant is required to attend a hearing early on called a “case management conference”; whereas in county court and circuit court, the defendant has 20-days to file a written response from the day the lawsuit papers are served. If a defendant doesn’t appear (in small claims) or they fail to respond (in county court or circuit court), the court will likely enter a default judgment against them. Make sure to respond (or hire someone to do so) so you don’t lose off the bat!
Review the claim
Next, review the records from the case. When a lawsuit is based on the records of another company, it may be that the records are inaccurate. Review the claim and don’t assume it is correct just because they have written it. See if the claim and the amount are accurate.
Consider your options
Evaluate the alleged debt from the lawsuit, along with your other debt and your income. Is there a defense to the claim? Can you realistically afford settlement, or does it make more sense to consider bankruptcy? Here is where you may want to have a free consultation with a debt resolution professional who can help you to objectively review your options.
Assuming bankruptcy is not your best option and depending on the merits of your case, negotiation may be the next best step. If you hire a debt settlement attorney to assist you with the lawsuit, your attorney will negotiate for you. However, if you are determined to go it alone, you are generally better talking to the opposing firm than doing nothing (*this is a generalization; each situation is different). Just keep in mind, they are not looking out for your best interest. They are likely not going to tell you about your defenses to the lawsuit or your protections from collection. Their job is to get you to pay.
Any Settlement Agreement Should be in Writing
Finally, if you reach a settlement agreement, even if you are representing yourself, your agreement should be in writing.
Questions on Your LVNV Funding LLC Lawsuit?
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