I am being sued by LVNV funding over a debt from 3 years ago for a total of $763 I have already asked they provide evidence showing they leaglly own the debt which they produced but cannot show that I have a contract with LVNV funding only with the original credit company.
1 Answer from Attorneys
LVNV Funding does likely own the debt. They are a debt buyer and your credit card company likely sold the debt to them for pennies on the dollar. You can do one of two things (a) settle with them for an amount less than the $763 (likely around 50-75%) or (b) wait them out and see if they will file a lawsuit (this number is small so they may not do that and as long as you don't pay them anything the debt cannot be sued upon after 6 years from your last payment. However that means putting up with their phone calls and letters for that length of time (and they may likely report the debt to the credit reporting agencies which will slightly lower your score).
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