LVNV Funding is a debt “buyer” agency which appears to have received a large amount of complaints alleging violations of the Fair Debt Collection Practices Act. Find out who they are, why they might be calling, and how you can stop them.
LVNV Funding is a debt collections agency based in Greenville, South Carolina. It appears as though there are a variety of different complaints against LVNV Funding alleging violations of the Fair Debt Collection Practices Act (FDCPA) including falsifying credit reports, incessantly harassing debtors, and failing to produce documentation of debt. If you have been contacted by this debt collector, make sure you understand your rights before taking action.
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Is LVNV Funding a scam?
They’re legit. LVNV Funding can be considered a legitimate collections company due to the fact that it has been in business for 15 years. Therefore, it is unwise to ignore the need to resolve your debt and write off LVNV Funding as a scam. LVNV Funding was started on April 13th, 2005. The collections business has been accredited by the Better Business Bureau and has also received an “A” rating from the BBB. According to the LVNV Funding website, the collections company essentially purchases debt from other companies. In other words, you as a consumer may have utilized a specific credit account, missed one or more of your scheduled payments, and the company the credit is owed to “charged off the account”. After this “charge off” occurs, LVNV takes over the debt and outsources the management to “Resurgent Capital Services” to collect on the debt and reach out to the consumer.
In regard to the collection company’s qualifications, according to their website, LVNV Funding is a part of a variety of professional organizations including: ACA International, NMLS, and Receivables Management Association International. The company is also a certified receivables business. LVNV Funding also leaves a message to clients on their website, writing, “We want you to know Resurgent takes compliance seriously. We deliver superior results while treating customers fairly and with respect. We utilize technology to facilitate transparency and deliver industry-leading performance”. According to many complaints on the BBB, this is not always the case. Lastly, According to dnb.com, LVNV has a total of 2 employees in its Greenville location and earns $170,000 in sales while its outsourced debt collector, Resurgent Capital Services has 500 total employees and a revenue of $64.99 million.
Who does LVNV Funding collect for?
LVNV Funding specializes in collections for a variety of different clientele. Because they purchase debt from other companies, your debt could come from a variety of different sources. LVNV, however, frequently collects for businesses such as, Chase, Bank of America, Credit One Bank, Best Buy, Citibank, HSBC, Sears, and others. It is wisest to confirm which debt is specifically owed and to whom when inquiring about your debt. Due to the outsourcing of debt, inquiring as soon as possible is the smartest move to make because one collection account can turn into many reporting on your credit file if the debt is not dealt with. In respect to the leadership of the company, LVNV Funding is managed by President Bryan Faliero and Vice President Daniel J Picciano III.
Who are we? We are Lemberg Law, a Consumer Law Firm
Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We are ranked A+ by the BBB. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors. Harassed? Abused? Misled by a collector? Call our Helpline today! There is no charge unless we win.
How many complaints are there against LVNV Funding?
LVNV Funding has received a number of complaints across the internet, including BBB.org. While BBB.org rated the company with an “A” and accredited the business, LVNV Funding has still received a whopping 465 complaints closed in last 3 years and 149 complaints closed in last 12 months on the BBB website. A majority of these complaints included complaints about false credit reporting, frequent harassment, and lack of documentation provided by the company. LVNV Funding has spent time responding to many of these complaints, however, the reoccurrence of similar complaints and issues has done damage to LVNV Funding’s reputation within the collections world. On top of the BBB.org complaints, LVNV Funding has also received 440 reviews on WalletHub amounting to a 2.3 star review, and seven, 1 star complaints on Google Reviews. More seriously, LVNV Funding has also been a part of a variety of lawsuits, sanctions, and penalties according to Public Access to Court Electronic Records (“PACER”), which reports all federal complaints within the U.S. federal system’s docket. There are additionally more lawsuits against LVNV linked here on classaction.org.
While LVNV Funding is not able to make empty threats to sue you or garnish your wages because it is illegal, it is not uncommon for debt collection agencies to summon debtors to court and garnish wages after a default judgement. LVNV Funding would likely choose not to sue you for a debt you may not owe or they cannot verify, but if they are able to do so it is best to stay on top of this discrepancy and gain access to an attorney. It is the wisest option to contact an attorney preemptively to ensure the safety of your assets and rights. Lemberg Law has helped thousands of consumers fight back against these cases of fraudulent collection practices. Call us today to find out how we can help you resolve this issue.
A complainant explains that back in 2016, LVNV was awarded the ability to place a judgement on her credit record in Iowa. The complainant requested to have a phone conference for court due to pregnancy, however, because LVNV declined and the complainant could not complete a phone conference, the judge awarded LVNV the ability to charge the complainant with $1700 worth of debt. The complainant was simply unable to show at the hearing due to being in the hospital about to deliver a child. After attempting to dispute the charge, the credit payment has still not been removed. The complainant has been trying to purchase their first home and since LVNV has a judgement on their report, the complainant has been disqualified. The complainant would like to know how to resolve the discrepancy and remove this charge.
LVNV Funding Calling You?
If you find yourself allegedly indebted to LVNV Funding, it is important that you learn to protect yourself by understanding your rights when it comes to collections companies. This protection can be achieved by familiarizing yourself with the Fair Debt Collection Practices Act, which outlines a person’s protections against the abuses and misconduct of collection agencies. You can find these rights listed on the Federal Trade Commission’s website under, “Debt Collection FAQs”. In addition to your rights under the FDCPA, do not forget that you also have additional rights to protect yourself from fraudulent practices under the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).
Can I sue LVNV Funding for harassment?
Yes, you can sue. If you would like to be able to recover your damages and protect yourself as an individual, you ideally should. The correct action to take when your FDCPA rights are breached is to sue. Federal laws protect citizens like you from these fraudulent practices. You should choose to award yourself the ability to defend your rights and receive compensation by suing if you feel as though these rights have been violated. Individuals like you can recover damages of up to $1,000, plus attorney fees and court costs.
Want to Stop LVNV Funding Debt Collection Harassment Now?
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About the Author:
Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.
I was served a summons for being sued by debt collector LVNV Funding. I immediately filed a response with the court but was still found in default because LVNV had not filed the summons with the court. This was not known by me. So when they did file it and I didn’t respond because I thought I already had it was to late. But I appealed it because this was improper and inappropriate actions on their part. Fast forward almost 2 years and I’m still battling them. They have garnishment judgments ongoing and even though I filed judgement proof paperwork with the court and LVNV it was disregarded. Now another group, Resurgent, who say my account was purchased by them on June 21 2019 has started a collections for the same debt. LVNV say they bought the debt on June 27 2019. Resurgent is using a judgement from the court against me to repossess and / or garnish personal property. But they don’t use the filed rebuttal to the judgment by me. And they don’t use the motion and order to release garnishment filed by LVNV. This whole situation is crazy out of control and I can’t believe it’s legal. I’ve asked for arbitration because my contract with the original creditor synchrony bank has that clause in it.
It seems the collection mills should have to abide by it also.
My question for you is ? Can you help me fight these mill pups?