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LVNV Funding strikes with little info


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The last post in this topic was posted 3864 days ago. 

 

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Hi, I pulled from the EXP site and found this:

 

LVNV FUNDING LLC

Account # XXXXXXXXXXXXXXXX

Account Type Debt Purchase

Balance $1,533.00

Date Opened 6/1/2012

Account Status Closed

Mo. Payment

Close Account Details

Past Due $1,533.00

Payment Status Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department

High Balance

Limit

Terms 1 Month

 

I think this account refers to an old debt with Cap One for $600 with FDOD of July, 2007. I live in Texas and the SOL is 4 years. I have been living in my residence for about a year now and never got a notification from LVNV.

 

What do you suggest for me to do? I am reading horror stories about LVNV and I am wondering if this is an attempt to reage the account and how difficult it will be to take them off the CR even after 7 years of the original debt. Should I dispute with the CRA and send a DV to LVNV? Are they allowed to hurt my credit without OC information or is it an FDCPA Violation?

 

Thank you for helping this newbie.

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Amazing how stupid they are, buying a debt that is past the SOL. Maybe they get these even cheaper, and get lucky once in a while.

 

FTC Staff opinion; "we believe the reality is that debt collectors use the reporting mechanism as a tool to persuade consumers to pay, just like dunning letters and telephone calls"

 

it's called parking .

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From what I've been reading, LVNV is suing left and right to persuade people to pay even when past SOL. Sounds fine by me, hopefully they'll sue me and I'll countersue for never getting a dunning letter and other FDCPA violations. I've got 2 more Cap One accounts they might try to buy. Bring it! :wave:

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It's unethical and illegal, but since not many people know their rights, these salamanders are making millions. They buy the debts for 3 cents on the dollar, so if somebody countersues, they only lose a few thousand and get it back from others.

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  • 3 weeks later...

It's unethical and illegal, but since not many people know their rights, these salamanders are making millions. They buy the debts for 3 cents on the dollar, so if somebody countersues, they only lose a few thousand and get it back from others.

 

Sometimes for even less than that, depending on their age, type, and the number of CAs/JDBs the paper has already been through.

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