Hi all,
I've scoured the internet and debtor boards regarding settling judgments and dealing with LVNV Funding. So, as I embark upon the journey to get rid of the negative marks on my report, I wanted to document my experience. As a background, default judgment in the amount of $4,594.34 was granted in favor of LVNV Funding on 2/27/2008. LVNV turned it over to Weltman, Weinberg, and Reis who subsequently commenced garnishment proceedings. As I did not have enough income at the time, the garnisment was returned as insufficient funds. The last action on this was in 2/29/2012.
At the beginning of this year, I began receiving letters from Nations Recovery Center and another company, which are affiliates of LVNV, attempting to collect the debt. At this time, I have chosen to communicate directly with WWR and have indicated I would like to attempt and settle in full for a one time lump sum payment. I know some of you may disagree with my decision but I'm tired of running from the debt and having it stalk in the shadows. I'd like to move on with my life. At this time, with interest the debt is near $7,000 or so. I understand they have a valid judgment against me and I am prepared for my settlement offer to be rejected and having to end up paying in full. Defaulting on the debt was my own mistake and sob stories aside, still my responsiblity.
In any event, I reached out to WWR and offered a one time payment of $2,000 plus court costs to consider the debt paid in full and for them to file a satisfaction/release of judgment. As I hear back I will continue to update the post. Often times I read posts that do not follow through until the end. So, good luck to me I guess.
Starting Score: TU 573 Exp 523 Lender Pull, Eq 583