Reply
Established Member
nordygirl
Posts: 10
Registered: ‎05-25-2011
0

LVNV Funding validation of debt response

I sent LVNV Funding a debt validation letter and here is their response:

 

LVNV Funding LLC currently owns account number XXXXXXXXX. The account was previously sold by First Premier on or about 09-23-2011 and at that time thebalance on this account was $596.29. As of the date of this communication, the account balance is $606.05. Because interest, payments, credits, fees, and/orother permissible charges can continue to cause the account balance to vary from day to day, you should contact us at 1-866-464-1187 to determine the exactbalance.

 

Is this an acceptable validation of debt? In my original letter I requested the following....

 

Please provide me with the following:

  • What the money you say I owe is for;
  • Explain and show me how you calculated what you say I owe;
  • Provide me with copies of any papers that show I agreed to pay what you say I owe;
  • Provide a verification or copy of any judgment if applicable;
  • Identify the original creditor;
  • Prove the Statute of Limitations has not expired on this account;
  • Show me that you are licensed to collect in my state; and
  • Provide me with your license numbers and Registered Agent. 

 

But then I came across this......

 

The FDCPA does not define what constitutes proper debt validation, and the issue has not been fully resolved by the courts. In the leading case of 

Chaudhry v. Gallerizzo, the Fourth Circuit Court of Appeals adopted a relatively low standard: "Verification of a debt involves nothing more than the debt collector

confirming in writing that the amount being demanded is what the creditor is claiming is owed; the debt collector is not required to keep detailed files of the alleged

debt."[6] The Court further stated that a request for validation of the debt is primarily intended to eliminate such problems as collectors contacting the wrong person

or attempting to collect debts which have already been paid.

 

I am so confused! Help please!

Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
0

Re: LVNV Funding validation of debt response

The only item in that shopping list of requests that is clearly required under FDCPA 809(b) is to identify the original creditor.

 

What is expressly required is that they "obtain" verification from the creditor.  How they do that, and the level of "proof" they must provide in "obtaining" verification, is not specified under the statute.  If you request more than expressly provided under section 809(b), be prepared for a legal fight.  Only a judge can go beyond the express words of the statutory language and interpret it to require more......

 

The seond half of your post is the minimum required.  The first half of your post is not.

Established Member
nordygirl
Posts: 10
Registered: ‎05-25-2011
0

Re: LVNV Funding validation of debt response

I see....what would you suggest? Send a letter to pay for delete or ignore it and wait till it falls off my credit report in Nov 2012 and hope they don't sue me in the meantime?

:smileyindifferent:

Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
0

Re: LVNV Funding validation of debt response

What is your date of first delinquency on the OC account, and what is the statute of limitations in your state?

 

The first, in most cases, determines the beginning of the running of the period set by the later.  You can always offer a PFD, but if the debt is still within SOL, you run the risk of their taking alternate legal action to recover it rather than negotiating terms with you.

Established Member
nordygirl
Posts: 10
Registered: ‎05-25-2011
0

Re: LVNV Funding validation of debt response

Oct 2005, SOL from what I have googled is....

 

The statute of limitations on debt in California puts a time limit on the amount of time you can be sued for a debt.

Oral Contract: 2 years

Written Contract: 4 years

Promissory Note: 4 years

Open-Ended Accounts: 4 years

Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
0

Re: LVNV Funding validation of debt response

[ Edited ]

So as long as you didn't make a payment on the debt to restart the SOL clock, which can in Cali, you are fine. You can't be sued (or if you were use SOL as a defense). I'd send a PFD if you agree with the debt.

 

 

Established Member
nordygirl
Posts: 10
Registered: ‎05-25-2011
0

Re: LVNV Funding validation of debt response

Thank you both! I also disputed with the credit agenceis and will wait to hear from them and go from there. 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+