LVNV Funding LLC Payment Plan

1. LVNV Funding LLC Payment Plan If you've been contacted by LVNV Funding LLC regarding an outstanding debt, it's important to understand your options for resolving it. LVNV Funding is a legitimate debt buyer that acquires charged-off accounts from original creditors and attempts to collect on them. They often work through their affiliate, Resurgent Capital Services, to manage collections and set up payment plans. Understanding LVNV Funding LLC LVNV Funding LLC purchases delinquent debts, such as unpaid credit card balances or personal loans, from original creditors. Once they own the debt, they may report it to credit bureaus and initiate collection efforts through Resurgent Capital Services or other third-party agencies. It's common for consumers to first learn about the LVNV Funding LLC payment plan when they see a new collection account on their credit report or receive a collection notice. Steps to Take When Contacted by LVNV Funding 1. Verify the Debt: Before making any payments, request a debt validation letter from LVNV Funding. This letter should include details about the original creditor, the amount owed, and your rights under the Fair Debt Collection Practices Act (FDCPA). You have 30 days from the initial contact to request this information. 2. Assess the Debt's Validity: Compare the information provided with your own records. If there are discrepancies or if you believe the debt isn't yours, you have the right to dispute it. Additionally, check if the debt is within your state's statute of limitations for collection. If it's beyond that period, LVNV Funding may still attempt to collect, but they cannot sue you for the debt. 3. Explore Payment Options: ○ Lump-Sum Settlement: If you can afford it, negotiating a lump-sum payment for less than the full amount owed can be beneficial. LVNV Funding may accept settlements ranging from 40% to 60% of the original debt. ○ Payment Plans: If a lump-sum payment isn't feasible, Resurgent Capital Services offers flexible payment plans. You can customize the plan based on how much and how often you can pay. 4. Obtain Written Agreements: Before making any payments, ensure you receive a written agreement outlining the terms of the settlement or payment plan. This document should specify the total amount to be paid, payment due dates, and any agreed-upon

2. terms. 5. Monitor Your Credit Report: After settling the debt or completing a payment plan, check your credit reports to confirm that the LVNV Funding account is updated accordingly. In many cases, they will remove their tradeline from your credit report within 30 to 60 days of resolution. Tips for Managing the Process ● Avoid Ignoring Communications: Ignoring collection efforts can lead to escalated actions, including potential lawsuits. Engage proactively to explore resolution options. ● Protect Your Finances: Consider setting up a separate bank account dedicated to your payment plan. This can help prevent unexpected debits from affecting your primary accounts. ● Seek Professional Advice: If you're unsure about how to proceed or if legal action has been initiated against you, consult with a debt settlement attorney or financial advisor to understand your rights and options. Dealing with debt collectors like LVNV Funding LLC can be challenging, but by staying informed and proactive, you can navigate the process effectively and work towards resolving your debt.