Trying to figure out first step: LVNV

[llecs]

Per the FDCPA it's adequate. If you agree with the debt, send a PFD. If you still disagree, then write back addressing the info you'd like to see.

[Williamsjk2]

A PFD it is then.

You know, so far LVNV hasn't been too bad...they DV'd quickly.  I just hope they are ameanable to a PFD (which I haven't seen too many good things about).

[llecs]

It's slim pickings on PFDs, though I've read of quite a few GW success stories. I personally would send PFDs if I agreed with them.

[pipeguy]

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@Williamsjk2 wrote:

So I got a letter back from LVNV.  This all it said: 

"LVNV Funding LLC currently owns account number XXXXXXXXXXXXXXXXX.  The account was originated by Capital One and recently acquired from Capital One.  At that time, the balance was $606.98.  As of the date of this communication, the account balance is $1,050.30.  Because interest, payments, credits, fees and/or other 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 exact balance."

Just as an FYI, the DV letter that I had originally sent was:

"I pulled my credit bureau report, and I discovered that you claim I owe you a debt. Under FDCPA 809, send me validation of this debt."

From my understanding of Debt Validation, this is not adequate.  Am I correct?  Please chime in and let me know what you think.

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This is the standard response from LVNV including the ambiguous "interest, fees and other charges", however they never define these extra charges and even if they did there would have to be a basis in law such as the original lenders' terms, etc. If the case went to court most of these extra costs would be tossed out (think how accurate undefined "fees" are). Its a long hard process to go through now and would require suing LVNV to prove their claim. Since your account is OOS (past SOL) your goal is to settle not to fight LVNV I would think. Keep in mind the highly inflated value of their claim when you go to settle this debt through PFD and adjust your offer accordingly.

If it were mine, I'd ignore the inflated claim and offer 40-50% of the original amount which is still giving the CA a lot more than what they paid for the debt.

[Anonymous]

I would PFD after getting that DV letter.  I actually just mailed/e-mailed them a PFD yesterday and the OC was Capital One as well.  I'll let you know if I hear anything.