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DV question please help

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Established Member

DV question please help

I'm sorry I dont think I quite understand DV.  I had a bill with Rhodes/HSBC which I believe LVNV has purchsased because they are showing up on my cb as DOLA 9/05.  Now I received a letter from a local law firm stating I have 30 days to respond and my 30 days will expire in a couple of days.  I called the law firm and agreed to make a payment before the June 1st that I really dont have the funds to do. 
 
So can you please tell me what does DV do?  Don't I have to pay the debt is it just buying me more time?  I dont think i fully understand.  I dont want to get sued and it to show up as a judgement so do I need to go ahead and make the payment since I told them I would or if I send a DV letter to both LVNV and the law firm will it just buy me more time?  Please clarify.  Thanks
Message 1 of 12
11 REPLIES 11
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Valued Contributor

Re: DV question please help

The DV is to ensure what you owe and whom is legally able to collect on the debt they claim you owe.
 
If they are able to validate their claim, then yes you would need to pay it.
Message 2 of 12
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Established Member

Re: DV question please help

Thanks for your response one last question (I hope) I agreed to pay more than i really can afford.  Do you think if I send a letter stating here's my payment and agree to pay a monthly amount do you think they would accept or do you think they will turn it down and try to sue me.  I agreed to give them 700 before the end of month and 250 until paid.....but I am only going to send 250 and agree to 250 a month.
Message 3 of 12
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Valued Contributor

Re: DV question please help

Contact is key. I would call and explain. You know they are going to pressure you of course, so, be honest and try not to let them bully you too much. I would not do anything that would lead them to file suit though. A judgement would be alot worse on your reports.
Message 4 of 12
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Established Member

Re: DV question please help

i did try to negotiate and they wouldnt accept nothing lower than 700 which I just dont have but like you said i dont want a judgement. They were mean and very rude so I guess i feel terribly pressured.   I was thinking of DV'g them I guess to buy myself some time.  But, i figured by sending them something that would be some sort of good faith that I will start paying.  This is my last neg charge off on my CB I just want them paid but at the same time theyre the highest ones 3k so I guess I will get a cashiers check for 250 tomorrow write a letter this is what I have and send it and keep my figures crossed.    Thanks for your help.
Message 5 of 12
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Valued Contributor

Re: DV question please help

There are a ton of threads on LVNV. Yes, they are nasty!
 
I would still send the DV to be sure you are paying the correct person, they are licensed to collect in your state (if it is required) and the amount they say you owe, etc. They would have to provide these things to you if they did push to go to court. Hopefully they will take what you are able to pay for now. Good luck!
 
 
Message 6 of 12
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Established Member

Re: DV question please help

Ok today I came home to find a business card taped to my door from my county sheriff's office warrant-civil unit.  I know this is regarding that LVNV debt.  On May 29 I wrote the Law firm that is trying to collect on this debt stating basically I know they are collecting on a debt for LVNV.  I would like to settle this debt as quick as possible and will pay 250 per month and enclosed is a money order for payment showing a sign of good faith. 
 
Well I knew when I wrote this letter they wanted more was trying to bully me to pay more and I can't afford more.  So, I guess I must go to court and I will be there.  My question is do they automatically win?  Will this place a judgement on my CRA? WIll they garnish my wages?  I'm a single mom and I just can't afford to pay more.  I don't want the judgement I'm so desperately trying to clean my reports up and I realize that is an ultimate baddie.  But, I have nothing to tap into to come up w/3k.  Need help please!!!!!!!!!!!!
Message 7 of 12
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Moderator Emeritus

Re: DV question please help



dempi wrote:
Ok today I came home to find a business card taped to my door from my county sheriff's office warrant-civil unit.  I know this is regarding that LVNV debt.  On May 29 I wrote the Law firm that is trying to collect on this debt stating basically I know they are collecting on a debt for LVNV.  I would like to settle this debt as quick as possible and will pay 250 per month and enclosed is a money order for payment showing a sign of good faith. 
 
Well I knew when I wrote this letter they wanted more was trying to bully me to pay more and I can't afford more.  So, I guess I must go to court and I will be there.  My question is do they automatically win?  Will this place a judgement on my CRA? WIll they garnish my wages?  I'm a single mom and I just can't afford to pay more.  I don't want the judgement I'm so desperately trying to clean my reports up and I realize that is an ultimate baddie.  But, I have nothing to tap into to come up w/3k.  Need help please!!!!!!!!!!!!


Check to see if your state puts court records online. If so, seach your name and see if anything appears.
 
You haven't been served yet. Once you are served, call your county clerk and ask how you are to respond to the summons.
 
Make sure you appear in court. You may be able to get the first court date postponed to give you a little more time to figure things out.
 
Most attorneys give a free consult, look up some attorneys who specialize in consumer law and get some opinions.
 
Did you send the DV? Did they respond?
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Message 8 of 12
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Valued Contributor

Re: DV question please help

WOW...that really makes me want to pay LVNV Funding now...I surely don't want to get sued...and SOL from LA...is RIDICULOUS...but what's funny is....when I called a while back...they offer me a settlement of 50%...what percentage of the full amount were you offering them???...
Message 9 of 12
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Senior Contributor

Re: DV question please help

What state are you in? WHEN did you incur the Household Bank debt (when did you last pay on it)?

LVNV has a report on my CRs (two of them) stating that I owe a debt (from fricking 2000) with MCI (that I paid off YEARS ago). Needless to say, the DOFD that they're reporting is not correct. They are stating that the date of DOFD is 04. So they're obviously re-aging. Be sure that they're not doing it to YOU, too.

They can only report on the date of the final delinquency with the OC, not the date that they took the account over. Let us know what state you're in, and when you went delinquent with the OC, in case that is the situation with you ... if you're out of SoL with the original debt, they cannot win against you as you'd have a "permissible defense" against the suit.

You'd still have to go to court, of course. That would be where you'd present your permissible defense of the SoL on the debt being expired. Or you could even send them a letter stating that you are out of SoL and they're SOL (and I don't mean "statute of limitations!).

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Message 10 of 12
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