LVNV Sued You
LVNV Sued You
Why are they suing?
And what are your options?
LVNV has sued you in a debt collection lawsuit.
Why are they suing you, and what are your options?
Who is LVNV Funding, LLC?
This is a debt collector or a debt buyer.
They are suing you because they claim that they have bought an old debt.
The debt might be from Credit One, Synchrony Bank, Chase, or another old original creditor, but they claim to have bought it, and now they’re suing you.
Remember:
There is a big difference between claiming and proving! So, what are your options?
5 Options:
- Bankruptcy
- Fight on your own
- Settle on your own
- Hire a lawyer to fight the lawsuit
- Hire a lawyer to settle the lawsuit
Let’s look at each of these options briefly:
1. Bankruptcy
This is an extreme solution.
If you absolutely need it, it can be extremely effective.
Usually, only 1 out of 100 – 200 who are sued might need this extreme solution.
For everyone else, it would be a terrible idea, but it is an option.
Bankruptcy, also called Chapter 7, wipes out the debt.
Assuming that you qualify, the debt will be wiped out.
That’s the advantage of filing for bankruptcy.
The downside is you now have a bankruptcy on your record.
This is a very serious matter.
Bankruptcy can be easily explained with this illustration:
If I tell you that my little finger hurts, and you say,
“I have a solution.”
Then you chop off my arm.
Well, my finger doesn’t hurt anymore, but chopping off my arm was an unnecessary solution.
There are a lot of better ways to handle this.
It’s the same thing with the typical LVNV lawsuit.
Unless you’re in a very unusual situation where you desperately need bankruptcy, that’s normally not a good option.
2. Fight this on your own (No Lawyer)
That’s kind of what you’re doing now.
You don’t have a lawyer, you just got sued, and you’re wondering what to do. You are handling this on your own.
Advantages:
Rely on yourself.
Do not have to pay a lawyer.
Disadvantages:
You don’t have a lawyer.
You are on your own.
Free resources are available in AL and TN.
For folks in Alabama and soon in TN, if you choose this option, we have some free resources we can provide to you at no charge to give you some ideas about how to do this in the best possible way.
You’re still on your own if you represent yourself, but this might help you a little bit.
3. Settle the lawsuit on your own (with no lawyer)
Advantages:
Do not have to pay a lawyer Relying on yourself
You negotiate with the collection lawyer.
When you negotiate a settlement, make sure that you pay the settlement exactly when, how, and where exactly as you promised.
Then the lawsuit will be over.
Disadvantages:
You’re on your own
You have to know all of the details
It’s up to you to talk to the collection lawyer.
To make sure it’s a good settlement, you have to know who to pay, when to pay, where to pay, what type of check to make out to whom, and when to deliver it.
It’s up to you to figure out all of the details.
Be sure to understand the credit reporting and tax consequences:
Make sure you understand what will happen with credit reporting.
Some of these collectors will agree to take it off of your report if you settle with them. Others will not.
But it still should show a zero balance once a lump sum payment is made (money all at once) or when the last monthly payment is made.
By that time, it should show a zero balance.
4. Hire a lawyer to FIGHT it
Disadvantages:
You have to pay the lawyer.
Advantages:
You have a lawyer on YOUR side.
Assuming you hire a lawyer that you have confidence in, you will have an experienced lawyer handling matters for you.
This gives you a better chance of winning.
This brings a sense of peace and comfort.
There should be a sense of relief. You can relax because somebody else is handling this.
But you need to know how much it will cost you. What happens if the lawyer isn’t successful?
Do you lose that money, or what happens after that?
5. Hire a lawyer to settle the lawsuit.
Disadvantage:
You have to pay the lawyer money.
Questions to ask:
How much will I have to pay the lawyer?
How much will I be paying, if any, on the settlement? What happens with credit reporting?
Advantage:
Confidence, comfort, and peace when handled correctly
If you’ve hired somebody that you feel confident in, and you feel comfortable with them representing you, then you will feel confident and comfortable that this is being handled the correct way.
My firm normally combines options 4&5 when dealing with LVNV.
Trial or Settle?
Basically, we ask the collectors, “Do you want to go to trial, or do you want to settle?”
When we settle, we don’t pay LVNV any money.
If you’re in Alabama, let me know if you have questions about this, and we can explain our program to you that we have done for many years in Alabama.
Soon, this will also be available in Tennessee.
Just remember:
Claiming to have bought your debt and proving it are 2 different things.
The reason why they are suing you is that they say they have bought the debt.
I keep emphasizing that “they claim, they say, or they allege” that they bought the debt.
Claiming is not the same as proving it.
I can tell you that I’m the President of the United States of America, but it might not be true.
LVNV might say, “We bought this debt.” That may be a lie.
Or even if it’s true, they may be unwilling or unable to prove it.
Ultimately, the ones filing the lawsuit bear the burden of proof.
They sued you, so they have to prove that they own the debt.
In the hundreds of times that we have represented consumers who have been sued by LVNV, we have seen LVNV struggle with this.
So, keep in mind your options:
Bankruptcy
Fight (own)
Settle (own)
Fight (lawyer)
Settle (lawyer)
Reach out to us if you are in Alabama!
If you are in Alabama, feel free to reach out and we can chat about what happened and whether the collection or credit reporting you are facing now is legal or illegal.
Always feel free to call us at 205-879-2447 or fill out our contact form.
Thanks!