Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Cards
Profile Image

Question By

0 Contributions
0 People Helped
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??

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
199 Contributions
220 People Helped

Helpful to 3 out of 3 people

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.

Top Contributor

Reply by

11699 Contributions
4497 People Helped
Helpful to 8 out of 8 people

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.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.