LVNV Funding, LLC is a company that purchases credit card debt or delinquent loans that have been charged off. Once they have purchased a debt, LVNV Funding LLC has been known to aggressively pursue debt holders. Failure to recover the debt through harassment can result in hiring a local collection attorney to file a lawsuit aimed at recovering that debt. If you have received notice that you are being sued by LVNV Funding, LLC, then you need to speak with a debt lawsuit defense attorney. If you live in the Dallas, Texas area, Warren and Migliaccio, LLP family law and bankruptcy attorneys, want to help you avoid judgment.
Who are They?
If you are unfamiliar with the company’s name, you may be quite confused when you receive notice that you are being sued. Owned by Sherman Acquisitions, LVNV Funding, LLC is a company that purchases debts that have been written off by the lender. These are most often credit card debt, but could also include personal loans or installment loans. Capital One, Chase, Citibank, and Wells Fargo are just a few of the companies that LVNV purchases these debts from. Once they have purchased a debt, the company aggressively pursues the debt holder with phone calls. They are so aggressive that class action suits are pending against the company for harassment.
Why Do They Sue?
If LVNV Funding, LLC is unsuccessful in making contact or they make contact and you refuse to pay, the next step is to file a lawsuit. Thousands of these suits are filed by LVNV Funding each year and the amount being sued for is often twice the amount of the original debt or more. Upon receiving notice of the suit, debt holders are often embarrassed and unsure how to handle the situation. The uncertainty causes many people to simply ignore the situation hoping it will resolve itself.
What Not To Do
Many of the lawsuits filed by LVNV Funding go uncontested. The debt holder, unsure of what to do, does nothing. If you are being sued by the company and you do not respond or show up in court, LVNV Funding will be awarded the full judgment amount they have requested. A judgment can result in garnished wages, frozen or garnished bank accounts, or a lien against your property. The judgment will likely be listed on your credit report as well, making it public knowledge.
What To Do
Appearing in court shows good faith, but if you are confused and unsure of what to say, the judge will most likely still award LVNV Funding, LLC the full judgment amount requested. Knowing the laws and how they apply to your unique situation requires an experienced debt lawsuit attorney. LVNV Funding makes big money off of these uncontested lawsuits. Having a legal professional to advise you greatly increases your odds of having the lawsuit dismissed or settled before court.
At Warren and Migliaccio, LLP in North Texas, our attorneys have the knowledge and experience to guide you in developing a legal strategy to handle your lawsuit head-on. Contact us today to schedule a free consultation of your case. Do not let companies like LVNV Funding harass and bully you into paying without speaking to a lawyer first. A lawyer is your best way of protecting yourself and your interests.
LVNV Funding has attorneys working for them and so should you. Lawsuits and judgments do not go away on their own. Contact Warren and Migliaccio, LLP Attorneys At Law today to schedule your free consultation and start planning your legal strategy. You do not owe just because they say so.