How To Beat LVNV Funding: Defend Your Rights Against Debt Collectors

LVNV Funding is contacting you about an overdue debt. You have rights and options.

First, verify the debt is valid. If it isn’t, dispute it immediately. If it is, calculate what you can pay and make a settlement offer.

Even if LVNV Funding sues you, you can negotiate to pay less. Keep responding to the lawsuit while you work out negotiations.

Who Is LVNV Funding LLC and Why Are They Calling You?

LVNV Funding wants payment on an overdue credit card debt or personal loan. They’re a debt collection agency that purchased your debt from the original creditor.

The person contacting you likely works for Resurgent Capital Services. LVNV Funding outsources all account management to Resurgent.

Who Does LVNV Funding Collect For?

LVNV Funding LLC buys old, unpaid debts from banks and credit card companies. When accounts go unpaid for extended periods, original lenders give up collecting.

They sell these debts for pennies on the dollar. LVNV purchases large bundles of accounts and hands them to Resurgent Capital Services. Resurgent handles all collection efforts on LVNV’s behalf.

Do You Have To Pay LVNV Funding?

If LVNV validates the debt and you agree you owe it, you probably need to pay something. Ignoring the situation only makes things worse.

Collection efforts will escalate beyond phone calls and letters. You could face a lawsuit and wage or bank account garnishment.

The good news? You can negotiate with LVNV to pay less than the original debt amount.

How To Negotiate a Debt Settlement With LVNV Funding in 3 Steps

Debt collection is a profit-driven business. You can use this to your advantage.

LVNV Funding likely purchased your debt for a fraction of what you owed. They may accept a settlement of 40%-60% of the original amount.

They still turn a profit while closing your account. It’s an incentive for both parties.

Don’t wait for them to offer a settlement. Reach out first if you think this is your best option.

Step 1: Verify the Debt Is Valid

Compare your records with the debt validation letter from LVNV Funding. The letter outlines important details about the debt they claim you owe.

Debt collectors must send you a validation notice by law. You get 30 days to dispute the debt or request additional information with a verification letter.

Haven’t received a debt validation letter from LVNV Funding? Request one immediately.

Once you receive it, verify:

• The debt belongs to you (no identity theft or mistaken identity)
• LVNV Funding legally owns the debt
• The amount they claim is accurate

If everything checks out, move to the next step.

Step 2: Calculate What You Can Actually Pay

Review your finances honestly. Look at your monthly take-home income, expenses, and existing debt payments.

Determine how much you can afford without sacrificing essential needs. The CFPB offers a helpful budget template and debt worksheet to simplify this process.

Need more guidance? Accredited nonprofit credit counselors offer free consultations. They can help you understand other debt relief options if you’re struggling with multiple debts.

Consider using our partner Cambridge Credit Counseling to create a manageable payment plan that reduces your overall debt burden.

Lump-Sum Payments vs. Payment Plans: Which Works Better?

Debt collectors prefer one-time lump sum payments. Your offer has better chances of acceptance with this approach.

Expect any small windfalls? Use work bonuses or tax returns as one-time payments.

Can’t afford a lump sum? Payment plans are still possible. Make your offer more attractive by agreeing to automatic bank withdrawals.

Whatever you propose, ensure the payment amount and timeline are realistic for your budget.

Step 3: Make Your Settlement Offer to LVNV Funding

You know what you can afford. Now you’re ready to make an offer.

Start lower than your target amount. Expect some back-and-forth negotiation. Use a debt settlement letter template to draft your offer.

Request written confirmation of any agreement. Keep records of all communications with debt collectors.

Negotiate Everything, Not Just the Amount

The settlement amount is only one piece of the puzzle. Negotiate how you repay and how they report to credit bureaus.

Settled accounts can be reported several ways. Each method impacts your credit score differently.

Ask LVNV Funding to report the account as “paid in full” to the major credit bureaus. This helps you start repairing damaged credit faster than “settled” or “partial payment” designations.

Can You Negotiate a Settlement During a Lawsuit?

Yes, you can usually negotiate a settlement after being sued. It’s often a worthwhile option to pursue.

Important: Respond to the lawsuit and follow all court requirements. Continue meeting legal obligations while working toward a settlement agreement.

Treat legal proceedings as valid until the case is officially closed or dismissed.

Tips for a Successful Debt Settlement

Negotiations can feel intimidating. Boost your confidence and improve settlement chances by following these tips:

• Get all agreements in writing before making any payment
• Never share bank account or debit card information until you have a signed settlement agreement
• Record all phone calls (where legally permitted) or keep detailed notes
• Don’t admit the debt is yours until they’ve validated it completely
• Stay calm and professional during all interactions
• Request deletion of negative credit reporting as part of your settlement
• Be prepared to walk away if terms aren’t favorable

For more guidance, read our article on 5 Solid Steps for Negotiating With Debt Collectors.

How To Beat LVNV Funding in a Debt Lawsuit

LVNV Funding may sue you if collection efforts fail. You’ll receive official notice from the court through two documents: a summons and complaint.

The most critical action? Respond to the summons.

Ignoring the lawsuit gives the debt collector an automatic win. The judge issues a default judgment, which opens the door to wage garnishment.

Participating in the lawsuit reduces their chances of success. It’s easier than you think.

Worried about responding alone but can’t afford a lawyer? Our partner Solo can help you draft an answer letter. They’ve helped over 300,000 people respond to debt lawsuits successfully.

Step 1: Read the Summons and Complaint Carefully

A summons notifies you that you’re being sued. It includes crucial information:

• Court name and address
• Names and addresses of all parties involved
• Case number
• Nature of the lawsuit
• Response deadline (specific date or number of days)

The summons also outlines legal consequences if you don’t respond.

A complaint accompanies the summons. It outlines claims against you in numbered paragraphs.

Many people successfully respond to debt collection lawsuits without lawyers. Need legal help? Contact a local debt settlement attorney or search for free assistance through the Legal Services Corporation’s search tool.

Step 2: Fill Out an Answer Form and Required Documents

You must reply to the lawsuit after receiving a summons and complaint. Some courts provide blank answer forms.

Google the court name listed on your summons plus “answer form” or “court forms.” Court-provided answer forms usually include filling-out instructions.

Ask the court clerk if answer forms are available. Court clerks can’t give legal advice, but they help you understand paperwork and processes.

Your lawsuit response is your chance to raise an affirmative defense. An affirmative defense explains why the debt collector shouldn’t win because of missing information in their complaint.

To better understand debt defenses, read 3 Steps To Take if a Debt Collector Sues You.

Many processes vary by court. Some require additional forms beyond the answer form. A certificate of service is common, though often included in the answer form.

Not sure about additional steps or forms? Check the court website for local rules. Ask the court clerk for clarification.

Step 3: File the Answer Form and Serve the Plaintiff

After completing the answer form and additional required documents, file the paperwork with the court. You can usually file in person or by mail.

Some courts allow online filing or email submission to the court clerk. Check your summons, the court’s website, or ask the court clerk about options.

You must also deliver a copy to the plaintiff (LVNV Funding). Send it via mail to the address on the summons. Ask the court clerk about other delivery options.

Send court documents via certified mail. You’ll have proof of when documents were sent and delivered.

Key Takeaways

LVNV Funding is contacting you to collect a debt. Validate the information first to ensure it’s correct.

Send a verification letter if you need additional information or want to dispute an invalid debt. If you owe the debt, determine what you can pay and negotiate a settlement.

If LVNV Funding sues you, settling remains a viable option. Continue meeting lawsuit requirements while negotiating. Courts differ in their processes, so check with your specific court.

Use the court website and clerk as resources to answer your questions. You have rights and options at every stage.