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pkirch15

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i have debt due to lvnv funding should i pay it or let it fall off?
i have debt collection due to lvnv funding it has been awhile since it has been there should i call and pay it or let it go and fall off??

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How long is "awhile"? Is it 3 years or 6 years? How large is the debt. If it's relatively new and you KNOW you can pay it off within a short time frame, then I think it's worth it just to clear the "in collections" section of your report. Just make sure the debt is actually yours and commit to paying it off before you call because calling might reset the SOL on the debt.

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jwsister

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Have you heard from them personally (phone call or letter) or did they just show up on your credit report?  And, how long ago?  What debt are they trying to collect on?

One valuable bit of information can be found in a quick search for "statute of limitations for collections."  Go there and check what the statute is for your state.  If that time has passed since you last had contact about this debt, the debt is uncollectable, period.

Actually. LVNV is one of the scumbag "junk debt" collectors who buy large packets of expired debts and attempt to collect on them.  If you are noit sure about the time frame, the best way to handle this group is to DEMAND a validation of debt.  Send them a letter, certified, return receipt requested and tell them you do not recognize their authority to collect on the debt and demand to see proper validation of the debt.  Tell them that, if the validation is not in your hands within 20 days of their receipt of the letter, they are to cease collection activities as required under the FDCPA.

They KNOW what is required for proper validation, so you do not have to tell them.  But, for your enlightenment, they need to send you a photocopy of the contract you entered into that clearly shows your signature,  and copy of the latest dated statement which shows the charges. Anything other than that is bogus, but they might try sending a computer print-out of some type.  Not good enough.

 Hope this helps.

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