How To Handle LVNV Funding
March 6th, 2010
Debts that are not yours could be sold to LVNV Funding, which is a collection agency with questionable business practices. They are very unorthodox and place erroneous debts on credit reports solely as a way to make money. The amounts are usually inflated or padded so they make a profit, and are difficult to remove without legal help.
You have the right to demand information concerning your debt pursuant to legislation under the Fair Credit Reporting Act (FCRA), where these collection agencies have to follow certain guidelines and code of conduct. Demanding information is your right as a citizen. Protect yourself by sending it certified mail, return receipt requested.
Letters to LVNV Funding should include the following: Demand to know what is the amount of the debt and what formula is used to calculate the anount. This will show penalties, fees and other inflated amounts. Proof of their license and under what authority can they collect in your state. Find out if the statute of limitations has run out as well. What kind of contact did you sign? You want the proof.
Send your letter all three credit reporting agencies as well, also certified mail with return receipt requested. Tell them the collection agency is violating your rights by listing an inaccurate or erroneous account, and to correct or delete this entry on your credit report. Ask that if the debt is deleted that they will not allow the collection agency to reapply for collection.
LVNV Funding is not different from other collection agencies that will try to reapply the debt or judgment to your credit report. Protect yourself against this credit agency by checking your credit report as often as you can. Even having it removed by a court of law will not stop them.
How I Stopped Lvnv Funding llc, Fixed my Bad Credit, and Raised my Credit Score up to 763. www.lvnvfundingcollection.com
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