If you’ve recently checked your credit report or received a letter mentioning LVNV Funding LLC, you might be feeling confused or even a bit anxious. Don’t worry you’re not alone. Many people across the U.S. have come across this name without fully understanding who they are or why they’re contacting them.
This article explains everything about LVNV Funding LLC, how they operate, your rights when dealing with them, and what you can do if they show up on your credit report.
Who Is LVNV Funding LLC?
LVNV Funding LLC is a debt collection company, also known as a debt buyer. They purchase charged-off or delinquent debts from banks, credit card companies, and other lenders for a fraction of the original amount owed. After buying the debt, they either collect it themselves or assign it to another agency, such as Resurgent Capital Services, to handle the collection process.
For example, if you stopped paying a credit card bill and your bank wrote it off as a loss, LVNV Funding LLC may have purchased that debt. Once they own it, they can legally attempt to collect the money from you.
Why Is LVNV Funding LLC on My Credit Report?
Seeing LVNV Funding LLC listed on your credit report can be alarming, especially if you don’t recognize the account. This usually means they’ve purchased a past-due debt linked to your name. It might be from a credit card, personal loan, or medical bill.
Once they acquire the debt, they report it to the credit bureaus under their company name. This entry can negatively impact your credit score especially if the account is marked as collections.
If you believe the account isn’t yours or that it’s inaccurate, you have the right to dispute it under the Fair Credit Reporting Act (FCRA).
How LVNV Funding LLC Operates
LVNV Funding LLC doesn’t typically contact consumers directly. Instead, they use third-party agencies or law firms to collect the debt. One of their main affiliates is Resurgent Capital Services, which manages the day-to-day collection efforts.
Here’s how the process generally works:
- Debt Purchase – LVNV Funding LLC buys old debt portfolios from lenders.
- Collection Attempts – They send notices through collection partners or agencies.
- Credit Reporting – They report the debt to major credit bureaus.
- Legal Action (in some cases) – If the debt remains unpaid, they might sue in court to recover the balance.
Understanding this process can help you take the right steps before things escalate.
Your Rights When Dealing With LVNV Funding LLC
Even though LVNV Funding LLC is a legitimate company, that doesn’t mean they can violate your rights. Under the Fair Debt Collection Practices Act (FDCPA), you have protections that prevent harassment or unfair practices.
You have the right to:
- Request written verification of the debt.
- Dispute inaccurate or outdated debt claims.
- Ask them to stop contacting you.
- Be free from threats, intimidation, or abusive language.
If LVNV Funding LLC or one of their partners breaks these rules, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) or even take legal action.
How to Handle a Debt From LVNV Funding LLC
If you’ve received a notice or lawsuit from LVNV Funding LLC, don’t ignore it. Taking the right steps can protect your finances and credit.
1. Verify the Debt
Always ask for a debt validation letter within 30 days of first contact. This will confirm if the debt actually belongs to you and provide details like the original creditor and balance.
2. Check the Statute of Limitations
Every state has a time limit on how long a collector can legally sue for a debt. If the debt is too old, LVNV Funding LLC cannot force payment through the court.
3. Dispute Inaccuracies
If the debt is incorrect or doesn’t belong to you, file a dispute with both the credit bureaus and LVNV Funding LLC in writing.
4. Negotiate a Settlement
If the debt is valid, you can try to negotiate a reduced payoff amount or payment plan. Get everything in writing before paying.
5. Consider Professional Help
If you’re overwhelmed, consulting a consumer rights attorney or credit repair professional can make a big difference.
Can LVNV Funding LLC Sue You?
Yes, LVNV Funding LLC can file a lawsuit to recover a debt they own. However, they must provide documentation proving that they legally own the debt and that the amount claimed is accurate.
If you’re sued by LVNV Funding LLC, respond to the summons immediately—never ignore it. Failing to respond can result in a default judgment, allowing them to garnish wages or seize funds.
How to Remove LVNV Funding LLC From Your Credit Report
If the account is inaccurate or unverified, you can dispute it. The credit bureaus will contact LVNV Funding LLC to confirm the information. If they can’t verify it within 30 days, the item must be deleted.
For legitimate debts, you might be able to remove the collection through:
- Pay-for-delete agreements (though not always successful)
- Settlements that mark the account as “paid” or “settled in full”
- Credit repair disputes for inaccurate reporting
Always keep copies of all correspondence and proof of payment.
Is LVNV Funding LLC Legitimate?
Yes, LVNV Funding LLC is a legitimate debt buyer registered in Nevada and operated by Sherman Financial Group, based in South Carolina. They have been active for many years and appear frequently on consumer credit reports.
However, legitimacy doesn’t mean they’re perfect. Many consumers have filed complaints about inaccurate debts or aggressive collection tactics. That’s why understanding your rights is crucial.
Frequently Asked Questions (FAQs) About LVNV Funding LLC
1. What does LVNV Funding LLC do?
LVNV Funding LLC buys charged-off debts from original creditors and attempts to collect the money owed through their collection partners.
2. Why is LVNV Funding LLC contacting me?
They likely purchased a debt tied to your name or account and are trying to collect it.
3. Can I remove LVNV Funding LLC from my credit report?
Yes if the debt is inaccurate or unverifiable, you can dispute it with the credit bureaus.
4. Is LVNV Funding LLC a scam?
No, LVNV Funding LLC is not a scam. They are a real debt buyer, but they must still follow federal collection laws.
5. How do I contact LVNV Funding LLC?
You can reach them through their managing agent, Resurgent Capital Services, by phone or mail. Always communicate in writing for recordkeeping.
6. What happens if I ignore LVNV Funding LLC?
Ignoring them may lead to continued collection attempts or even a lawsuit. It’s better to respond, verify the debt, and address it appropriately.
7. Can LVNV Funding LLC garnish my wages?
Only if they sue you and win a court judgment. Without a judgment, they can’t legally garnish wages.
8. Should I pay LVNV Funding LLC?
Only after verifying the debt is valid and accurate. Don’t pay without proper documentation.
Final Thoughts
Dealing with LVNV Funding LLC can be stressful, but knowledge is your best defense. Understanding who they are, what rights you have, and how to handle their claims can help you protect your credit and financial health.
Always verify debts, document every interaction, and know that you have legal protections. With patience and strategy, you can manage or even remove LVNV Funding LLC from your record and move toward a stronger financial future.