Rob Harrer

According to the Federal Reserve, American household debt reached an all-time high of $14.6 trillion in 2021. It is completely normal and understandable to fall behind on bills and expenses from time to time. Unfortunately, that can lead to a collection lawsuit, leaving you with feelings of stress, anxiety, overwhelm, and fear. There’s so much uncertainty surrounding the lawsuit, and you don’t know what the outcome will be.

What is surprising is the number of people we speak with who aren’t aware that they can get help from a debt collection defense attorney. A debt lawsuit isn’t something you need to endure alone. The Chicago Consumer Law Center team is here to help guide you through this process. We can help alleviate your stress, anxiety, and fear of the unknown.

What is a Debt Collection Lawsuit?

When a person falls behind on their bills, those lenders—usually a credit card or personal loan company, will usually do one of two things:

1. They will try to collect the debt on their own and likely file a lawsuit if they can’t, or,
2. They will sell the debt to a debt buyer, a company that buys defaulted debts for an average of 4 cents on the dollar. These debt buyers now own the debt and will either try to collect the debt or, like the creditor, will eventually sue you.

The creditors and debt collection companies file debt collection lawsuits to get a judgment from the court. With a judgment they can freeze bank accounts, garnish wages and put liens on property such as homes and cars.

Most people, about 90%, don’t show up in court and almost always have a default judgment entered against them. About 8% of people show up with the hopes of making a deal where lawyers try to intimidate or scare them into agreements that often include voluntarily agreeing to a judgment against them. Collection lawyers have had thousands, even tens of thousands of cases, they know every trick in the book. Often, they will try to scare or intimidate you into paying right away with the hope that you will not engage a consumer protection attorney. It is an unfortunate statistic, but debt collectors become successful by filing lawsuits and utilizing these intimidation tactics.

What Happens If A Debt Buyer Sues Me?

If you receive notice of a lawsuit against you filed by a debt collector or debt buyer, it is critical to call an experienced debt defense attorney. Often, these debt collection companies purchase such a significant amount of debt that all they receive is a spreadsheet of data with your name, phone number, and the amount of debt you owe. These companies have the burden of proving:

• They own your debt
• The debt amount is correct
• Your information in the lawsuit is correct
• The statute of limitations hasn’t passed

If the debt collection company can’t prove these things, there is a good chance the court can and will dismiss your lawsuit.

Does it Matter if Portfolio Recovery or a Law Firm Sent the Letter?

If a law firm sends the letter, the debt is now in the hands of the law firm, and you should seek competent counsel from a debt collection defense attorney. The collection law firm is trying to scare you into paying before they go through the time and expense of filing a lawsuit.

If Portfolio Recovery sent the letter, this implies they are using scare tactics to get you to settle the debt without fully understanding all the available options without paying the entire debt.

Why Do I Need a Debt Collection Defense Attorney?

Suppose a creditor or debt collection agency sued you for a debt. In that case, it’s natural to investigate your options, especially if you’ve already been served with the lawsuit and you’re headed to court. We practice in Cook County, DuPage County, and Lake County and know how the collection law firms operate there.

Have you already received a lawsuit and court summons? You normally have only 30 days to file what’s called an Appearance letting the court know you’re going to defend yourself. Timing is of the essence; talk to an experienced consumer law attorney immediately to help guide you through the process.

Having an experienced debt defense attorney on your side to be your ally and advocate on your behalf is crucial to your success and peace of mind. Our team has seen every trick these companies have employed. For example, did you know that these companies cannot do the following?

• Call before 8 a.m. or after 9 p.m. unless you have given them permission to do so
• Cause your phone to ring for extended periods or make repeated phone calls
• Contact you at work after you told them not to
• Make false statements to collect the debt or misrepresent the amount you owe
• Make threats of harming your credit or wage garnishment
• Send collection letters that appear to be from a court or government office
• Threaten to arrest you if you do not pay the debt
• Threaten to take legal action against you if they don’t normally sue people
• Use obscene or profane language

Contact Chicago Consumer Law Center, P.C.

Our law firm has a track record of protecting consumer rights and explaining your options when dealing with a debt collection lawsuit. Although the earlier you contact us, the better, no matter where you are in the process, you deserve to know your rights and what to expect. Give us a call at (312) 883-8644 or complete our online form to schedule your free strategy session.

 

Copyright© 2022. Chicago Consumer Law Center. All rights reserved.

 

The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.

Chicago Consumer Law Center, P.C.
650 Warrenville Road Suite 100
Lisle, IL 60532
(312) 883-8644
https://chicagoconsumerlawcenter.com/

Portfolio Recovery Associates, LLC lawsuits can be intimidating and financially devastating. You need an ally, a trusted advocate who can assist you through this process. It will help if you have a debt collection defense attorney on your side. Lately, we have received numerous calls about Portfolio Recovery Associates, LLC, LVNV Funding, Cavalry Portfolio Services, and Midland Credit Management lawsuits.

Let’s Recap: Who is Portfolio Recovery Associates, LLC?

Portfolio Recovery Associates, LLC (Portfolio Recovery) is a debt collector and has been in business since 1996. If you’ve been contacted by Portfolio Recovery about a debt they claim you owe, it’s a good idea to know who you’re dealing with.

Portfolio Recovery buys old debts from lenders and companies who have been unable to collect the debt themselves and tries to collect on it. Because the debt is old in most cases, they can buy the debt for pennies on the dollar. They will then start making collection calls to get the money as fast as possible to collect the total amount of the debt, plus interest and penalties.

One of our recent clients told us his story: “Portfolio Recovery Associates sued me, claiming to have purchased a debt I allegedly owed to Synchrony Bank. The only paperwork they sent in their collection efforts was the last statement on my credit card billing cycle. I asked for validation of the debt but only received the last billing statement. That’s when I hired Chicago Consumer Law Center. Portfolio Recovery Associates is suing me for a debt they can’t prove that I own.”

This company is not in business to help you or be your ally through this trying time. They will use every method available to obtain as much of the debt as quickly as possible. That includes lawsuits.

When it comes to debt collection, it is more profitable to litigate as opposed to collect. Portfolio Recovery uses the court as its collection agency. Timing is of the essence, and it is critical to hire an experienced debt defense attorney to help guide you through the process.

Why Did I Get a Pre-Legal Notification?

The answer is to scare you into engaging the debt collector without understanding your options or rights. Portfolio Recovery does NOT want to have to spend the time and money to sue you. They’d rather scare you into making their life easier by picking up the phone, calling them, and paying them in full.

Does it Matter if Portfolio Recovery or a Law Firm Sent the Letter?

If a law firm sends the letter, the debt is now in the hands of the law firm, and you should seek competent counsel from a debt collection defense attorney. The collection law firm is trying to scare you into paying before they go through the time and expense of filing a lawsuit.

If Portfolio Recovery sent the letter, this implies they are using scare tactics to get you to settle the debt without fully understanding all the available options without paying the entire debt.

What Do I Do Now that Portfolio Recovery Associates Portfolio Services is Suing Me?

If sued for a debt, it is critical to speak with us sooner rather than later. You must respond to the lawsuit.

If you do not respond, three things will happen:

1. Portfolio Recovery may then ask the court to enter a default judgment against you. This means you automatically lose the case.
2. You’ll then be required to show up in court and forced to disclose all your money and assets to the judge.
3. Finally, Portfolio Recovery can enforce the judgment against you by garnishing wages, freezing your bank accounts, or filing liens on your property. They can also charge 9% interest on the judgment. All this can last up to 27 years in Illinois.

It’s natural to investigate your options, especially if you’re headed to Cook County Court against Portfolio Recovery. It is critical to hire an experienced consumer law attorney to help guide you through this process.

How Do I Hire the Right Debt Defense Attorney?

These lawsuits are intimidating and financially devastating. You need an ally, a trusted advocate who can assist you through this process. You need a debt collection defense attorney on your side. Look for a few key things:

• Experience specifically defending against Portfolio Recovery Associates.
• Proven track record of litigating and not simply settling debt right away.
• A law firm focused on both debt collection defense and suing debt collectors. Not just a general practice lawyer.
• Often, law firms that offer cheap lawsuit protection use cheap, inexperienced labor (law students, admins, etc.) in your case. Do you want the cheapest doctor operating on you? Think a lawyer or law firm that has to churn through cases to keep the lights on is concerned about you or your specific case? You get what you pay for. Avoid problems with your case and future issues and hire right.
• Find a fair-priced attorney who is hands on, be sure to ask what you can expect from the attorney, or will you have a great relationship with just their paralegal and junior associate?

Contact Chicago Consumer Law Center, P.C.

Our law firm has a track record of protecting consumer rights and explaining your options to you when a company like Portfolio Recovery Associates takes you to court before they get a default judgement against you. Although it’s best to contact one of our experienced debt collection defense attorneys as soon as possible, you deserve to know your rights and what to expect no matter where you are in the process. Give us a call at (312) 858-3240 or complete the form on our website to schedule your free strategy session.

 

Copyright© 2021. Chicago Consumer Law Center. All rights reserved.

 

Disclaimer: The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through, this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.

Chicago Consumer Law Center, P.C.
650 Warrenville Road Suite 100
Lisle, IL 60532
(312) 858-3240
https://chicagoconsumerlawcenter.com/

Cavalry Portfolio Services lawsuits can be intimidating and financially devastating. You need an ally, a trusted advocate who can assist you through this process. You need a debt defense attorney from Chicago Consumer Law Center, P.C., on your side. Lately, we have been receiving numerous calls about Cavalry Portfolio Services, LVNV, Portfolio Recovery Associates, and Midland Credit Management lawsuits.

Let’s Recap: Who is Cavalry Portfolio Services?

Cavalry Portfolio Services is a collection agency that purchases old debt from companies and tries to collect on it. Because the debt is old, they can buy it at extremely cheap rates. They then start making collection calls to collect the debt as fast as they can. Their goal is to collect the full amount of the debt plus interest and penalties.

One of our recent clients told us his story: “Cavalry claimed to have purchased a debt I allegedly owed from Citibank. The only paperwork they sent in their collection efforts was the last statement on my credit card billing cycle. I had tried to ask for validation of the debt but only received the previous billing statement. That’s when I hired Chicago Consumer Law Center. Cavalry is suing me for a debt they can’t prove that I own.“

Remember, Cavalry Portfolio Services is NOT in business to help you or be your ally through this trying time. They will use every method available to them to obtain as much of the debt as quickly as possible. That includes lawsuits.

It is more profitable to litigate than to collect when it comes to debt collection. As part of Cavalry’s litigation efforts, they use the court as their collection agency. Since timing is of the essence, it is critical to hire an experienced consumer law attorney to help guide you through the process.

Why Did I Get a Pre-Legal Notification?

The answer is to scare you into paying the debt collector without understanding your options or rights. Cavalry Portfolio Services does NOT want to have to spend the time and money to sue you. They’d rather scare you into making their life easier by picking up the phone, calling them, and paying them in full.

Does it Matter if Cavalry Portfolio Services or a Law Firm Sent the Letter?

If a law firm sent you the letter, the debt is now in the hands of the law firm, and you should seek competent counsel from a debt defense law firm. The collection law firm is trying to scare you into paying before they go through the time and expense of filing a lawsuit.

If Cavalry Portfolio Services sent the letter, this implies they are using scare tactics to get you to settle the debt without fully understanding all the available options without paying the entire debt.

What Do I Do Now that Cavalry Portfolio Services is Suing me?

If Cavalry Portfolio Services sued you for a debt, it is in your best interest to speak with us sooner rather than later. You must respond to the lawsuit.

If you do not respond, three things will happen:

• Cavalry Portfolio Services will likely file a “request for default,” which means that you no longer have the ability to respond to the lawsuit and defend yourself. Once you have defaulted, you will not be able to disagree with the amount of money you feel you owe.
• Cavalry Portfolio Services may then ask the court to enter a default judgment against you.
• Finally, Cavalry Portfolio Services can enforce the judgment against you by freezing bank accounts, garnishing wages, or putting liens on property.

It’s natural to investigate your options, especially when headed to Cook County Court against Cavalry Portfolio Services. It is critical to hire an experienced consumer law attorney to help guide you through this process.

How Do I Hire the Right Debt Defense Attorney?

These lawsuits are intimidating and financially devastating. You need an ally, a trusted advocate who can assist you through this process. You need a debt defense attorney on your side. When searching, look for a few key things:

• Experience specifically defending against Cavalry Portfolio Services.
• An attorney that has a proven track record of litigating and not simply settling debt right away.
• The law firm is focused on Debt Collection Defense and suing debt collectors. Not just a general practice lawyer.
• Most often, law firms that offer cheap lawsuit protection are using cheap, inexperienced labor (law students, admins, etc.) in your case. Do you want the cheapest doctor operating on you? Do you think a lawyer or law firm that has to churn through cases to keep the lights on is concerned about you or your specific case? You get what you pay for. Avoid problems with your case and future issues and hire the right law firm from the beginning.
• Find a fair-priced attorney who will be personally involved in your case. Be sure to ask what you can expect from the attorney, or will you have a great relationship with their junior employee?

Contact Chicago Consumer Law Center, P.C.

Our law firm has a track record of protecting consumer rights and explaining your options to you when a collection company like Cavalry Portfolio Services takes you to court before they get a default judgment against you. The earlier you contact us, the better options you have. Give us a call at (312) 858-3240 or complete the form on our website to schedule your free strategy session.

Copyright© 2021. Chicago Consumer Law Center, P.C. All rights reserved.

The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.

Chicago Consumer Law Center, P.C.
650 Warrenville Road Suite 100
Lisle, IL 60532
(312) 858-3240
https://chicagoconsumerlawcenter.com/

 

Cavalry Portfolio Services lawsuits can be intimidating and financially devastating. In our experience, most people have never heard of Cavalry Portfolio Services. They only learn of their existence after Cavalry Portfolio Services serves them with a lawsuit or sends them a collection letter. If Cavalry Portfolio Services has contacted you about a debt they claim you owe, it’s a good idea to know who you’re dealing with.

What is Cavalry Portfolio Services?

Cavalry Portfolio Services is a collection agency that purchases old debt from companies and collects on it. Because the debt is old, they can buy it for extremely cheap rates. They then start collection calls to get the money as fast as possible, intending to collect the full amount of the debt plus interest and penalties.

If Cavalry Portfolio Services has served you with a lawsuit, you already know that they use aggressive debt collection tactics, including multiple daily calls, harassment, and threats. It’s important to remember that under the Fair Debt Collection Practices Act, debt collection companies such as Cavalry Portfolio Services cannot do the following while trying to collect a debt:

• Contact anyone who doesn’t own the debt
• Call before 8 a.m. or after 9 p.m. unless you have given them permission to do so
• Cause your phone to ring for extended periods of time or make repeated phone calls
• Contact you at work if you have asked them not to
• Make false statements to collect the debt or misrepresent the amount you owe
• Make threats of harming your credit or wage garnishment
• Send collection letters that appear to be from a court or government office
• Threaten to arrest you if you do not pay the debt
• Threaten to take legal action against you they don’t intend to take
• Use obscene or profane language

Cavalry Portfolio Services is NOTORIOUS for deceptive tactics. Did you know that the Consumer Financial Protection Bureau (CFPB) has received numerous complaints about Cavalry Portfolio Services? Some of the topics of the complaints to the CFPB included:

• Attempts to collect a debt not owed
• Communication tactics
• Filed incorrect information on the consumer’s credit report
• False statements or representation
• Threatened to take negative or legal action
• Written notification about a debt

If you were sued for a debt, it’s natural to investigate your options, especially if you’re headed to Cook County Court against Cavalry Portfolio Services. Have you already received a lawsuit and court summons? Timing is of the essence, and it is critical to hire an experienced consumer law attorney to help guide you through the process.

Why Is My Debt Being Sold?

When you open a credit card, take out a loan, line of credit, or even generate a balance somewhere like a doctor’s office or hospital, that company will usually attempt to collect the debt from you in the short term. However, many of these companies have limited collection departments and sell the debts to debt buyers and collection agencies. These collection agencies are much more aggressive in their efforts to get you to pay the debt because their only purpose is to collect the debts they bought for pennies on the dollar.

Debt collection agencies purchase these debts for pennies on the dollar and then begin a campaign to get you to pay it. Their tactics can include letters, phone calls, and even behavior that’s illegal and harassing. For example, many consumers don’t realize that a debt collection agency will sometimes sue someone for a debt after the statute of limitations, the time they’re allowed to sue for a debt, has expired. Since the agency stands to make enormous profits if they can even get you, or force you through a lawsuit, to pay, their methods are ruthless.

Debt Collectors often use threats and claims of legal action to coerce a consumer to pay up or settle the debt, relying on the fact that most consumers might not be aware of their rights and will either ignore the collector or pay the debt just to get the collection efforts to stop.

Debtors have rights, and they can take legal action against debt collection agencies who cross the line, such as those telling you they are with the police department, calling you at work after you’ve asked them to stop, or lying about the amount of money you owe or its current status regarding the statute of limitations.

Don’t Deal with Cavalry Portfolio Services Alone

Cavalry Portfolio Services may contact you multiple times to encourage you to settle with them directly. However, this is not always in your best interest. Their representatives might try to convince you that this is your only avenue for resolution, but you deserve to know your rights and have a lawyer advise you about your options.

Hiring an attorney in Chicago, Illinois, to fight back can provide the legal support and experience you need to take on this powerful debt collection agency and increase your chances of winning a lawsuit. We fight hard to get cases dismissed with debt collectors like Cavalry. Our skilled and dedicated attorneys can assist you in saving a substantial amount of money, compared to the original statement balance that Cavalry Portfolio Services is demanding.

In fact, at the time of this writing, none of our clients have ever paid Cavalry a penny from a lawsuit when they hired us early enough. While we can’t guarantee victory in your case, our track record speaks volumes.

Contact Chicago Consumer Law Center, P.C.

Our law firm has a track record of protecting consumer rights and explaining your options when a company like Cavalry Portfolio Services takes you to court before they get a default judgment against you. Although the earlier you contact us, the better, no matter where you are in the process, you deserve to know your rights and what to expect. Give us a call at (312) 858-3240 or complete the form on our website to schedule your free strategy session.

Copyright© 2021. Chicago Consumer Law Center. All rights reserved.

The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.

Chicago Consumer Law Center, P.C.
650 Warrenville Road Suite 100
Lisle, IL 60532
(312) 858-3240
https://chicagoconsumerlawcenter.com/

Portfolio Recovery Associates lawsuits can be intimidating and financially devastating. You need a debt defense attorney from Chicago Consumer Law Center, an experienced debt lawsuit defense law firm, on your side.

Being sued by a debt collector is an unpleasant experience. However, you do have rights as a consumer, and you need to know how to respond and when you can fight back with the support of a Chicago, Illinois debt collection lawyer that focuses on debt-collection lawsuits.

In our experience, most people have never heard of Portfolio Recovery Associates. They only learn of their existence after Portfolio Recovery Associates serves them with a lawsuit. Portfolio Recovery Associates, also referred to as PRA, has been in business since 1996. Since then, they have become one of the largest debt collection companies in the world.

What is Portfolio Recovery Associates (PRA)?

PRA is a collection agency that purchases old debt from companies and tries to collect on them. Because the debt is old, they can buy it at extremely cheap rates in most cases. They then start collection calls to get the money as fast as possible to obtain the total amount of the debt plus interest and penalties.

Portfolio Recovery Associates knows that 90% of people won’t show up in court, and 8% of people enter into a payment plan (usually with terrible terms); their business model depends on it. Two percent of people hire an attorney, and most of these attorneys don’t know how to litigate a collection case.

If Portfolio Recovery Associates has served you with a lawsuit, you already know that they use aggressive debt collection tactics, including multiple daily calls, harassment, threats, and citations. It’s important to remember that under the Fair Debt Collection Practices Act, debt collection companies such as Portfolio Recovery Associates cannot do the following while trying to collect a debt:

• Contact anyone who doesn’t own the debt
• Call before 8 a.m. or after 9 p.m. unless you have permitted them to do so
• Cause your phone to ring for extended periods or make repeated phone calls
• Contact you at work if you have asked them not to
• Make false statements to collect the debt or misrepresent the amount you owe
• Make threats of harming your credit or wage garnishment
• Send collection letters that appear to be from a court or government office
• Threaten to arrest you if you do not pay the debt
• Threaten to take legal action against you
• Use obscene or profane language

Suppose a debt collection agency sued you for a debt. In that case, it’s natural to investigate your options, especially if you’re headed to Cook County Court against Portfolio Recovery Associates, a formidable opponent. Have you already received a lawsuit and court summons? Timing is of the essence, and it is critical to hire an experienced consumer law attorney to help guide you through the process.

Why Is My Debt Being Sold?

When you open a credit card, take out a loan or line of credit, or even generate a balance somewhere like a doctor’s office or hospital, that company will usually attempt to collect the debt from you in the short term. However, many of these companies have limited collection departments and sell the debts to debt buyers and collection agencies. These collection agencies are much more aggressive in their efforts to get the debt paid because their only purpose is to collect the debts they bought for pennies on the dollar.

Debt collection agencies then begin a campaign to get you to pay it, which can include letters, phone calls, and even illegal and harassing behavior. For example, many consumers don’t realize that a debt collection agency will sometimes sue someone for a debt after the statute of limitations, the time they’re allowed to sue for a debt, has expired. Since the agency stands to make enormous profits if they can even get you, or force you through a lawsuit, to pay, their methods are ruthless.

Debt collectors often use threats and claims of legal action to coerce a consumer to make payments or settle the debt, relying on the fact that most consumers might not be aware of their rights and will either ignore the collector or pay the debt just to get the collection efforts to stop.

Debtors have rights, and they can take legal action against debt collection agencies who cross the line, such as those telling you they are with the police department, calling you at work after you’ve asked them to stop, or lying about the amount of money you owe or its current status regarding the statute of limitations.

Don’t Deal with Portfolio Recovery Associates Alone

Portfolio Recovery Associates may contact you multiple times to encourage you to settle with them directly. However, this is not always in your best interest. Their representatives might try to convince you that this is your only avenue for resolution, but you deserve to know your rights and have a lawyer advise you about your options.

Hiring an attorney in Chicago, Illinois, to fight back can provide the legal support and experience you need to take on this powerful debt collection agency and increase your chances of winning a lawsuit. The Chicago Consumer Law Center knows how debt collection agencies like Portfolio Recovery Associates operate — and how it feels when a debt or credit dispute threatens you and your family’s future. If Portfolio Recovery Associates is pursuing you, our debt defense attorneys are here to help.

Contact Chicago Consumer Law Center, P.C.

Our law firm has a track record of protecting consumer rights and explaining your options to you when a company like Portfolio Recovery Associates takes you to court and before they get a default judgment against you. Although the earlier you contact us, the better, no matter where you are in the process, you deserve to know your rights and what to expect. Give us a call at (312) 858-3240 or complete the form on our website to schedule your free strategy session.

 

Copyright© 2021. Chicago Consumer Law Center. All rights reserved.

 

The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.

Chicago Consumer Law Center, P.C.
650 Warrenville Road Suite 100
Lisle, IL 60532
(312) 858-3240
https://chicagoconsumerlawcenter.com/

The short answer is yes, LVNV Funding LLC is a legitimate company. They purchase debt, similar to companies like Midland Credit Management, Portfolio Recovery Associates, and Cavalry Portfolio Services. Most likely, you learned about LVNV Funding because they sued you and served you with a lawsuit, or they appeared on your credit report. If this is the case, you are not alone.

What is LVNV Funding LLC?

LVNV Funding, which has been in business since 2005, purchases defaulted debt from credit card companies and personal loan lenders. Because the debt is old, in most cases, they can buy it for pennies on the dollar. They try to collect the full amount through collection letters and phone calls or will file a lawsuit to collect the money. At the time of this writing, they file the most debt collection lawsuits in Chicago and suburban Cook County, DuPage County and Lake County, Illinois.

But often, they won’t contact you to collect. They’ll go straight to a lawsuit and sue you. If you were sued for a debt, it’s natural to investigate your options, especially if you’re headed to Cook County Court against LVNV, a formidable opponent. Have you

already received an LVNV funding lawsuit and court summons? It’s imperative to hire an experienced consumer law attorney to help guide you through the process.

Why am I just hearing of LVNV now?

There could be a few reasons you only learn of LVNV Funding at the time of lawsuit or credit reporting. As we mentioned earlier, LVNV purchases old debt, which might be from a credit card company or a loan that you had with a creditor with whom you would be familiar. Additionally, LVNV is the debt owner; they outsource the debt collection management to Resurgent Capital Services.

How is Resurgent Capital Services Connected?

Before the lawsuit, you may have heard from Resurgent Capital Services, a licensed third-party debt collector specializing in debt collection. Resurgent may have contacted you directly or had one of their collection agency partners contact you.

Why Is My Debt Being Sold?

When you open a credit card, take out a loan, line of credit, or even generate a balance somewhere like a doctor’s office or hospital, that company will usually attempt to collect the debt from you in the short term.

However, many of these companies have limited collection departments and sell the debts to debt buyers and collection agencies. These collection agencies are much more aggressive in their efforts to get you to pay the debt because their only purpose is to collect the debts they bought for pennies on the dollar.

Once they have purchased these debts, debt collection agencies then begin a campaign to get you to pay them. Such a campaign can include letters, phone calls, and even behavior that’s illegal and harassing. For example, many consumers don’t realize that a debt collection agency will sometimes sue someone for a debt after the statute of limitations, the time they’re allowed to sue for a debt, has expired.

Or they’ll use deceptive tactics such as trying to get someone to make a small payment, even $10, that can reset the statute of limitations so LVNV can now sue them.

Debt Collectors often use threats and claims of legal action to get a consumer to pay up or settle the debt. They rely on the fact that most consumers might not be aware of their rights and will either ignore the collector or pay the debt just to get the collection efforts to stop.

Debtors have rights, and they can take legal action against debt collection agencies who cross the line, such as those telling you they are with the police department, calling you at work after you’ve asked them to stop, or lying about the amount of money you owe or its current status regarding the statute of limitations.

What Should I Do When I Get A Summons from LVNV LLC?

If you have received a summons from LVNV Funding LLC, it is important to remember, it is an enormous company that buys so much debt that often, all it receives is a spreadsheet of data with your name, number, and the amount of debt you owe. Once they file a lawsuit, LVNV Funding has the burden of proof to prove the following:

• They own your debt
• The have the documentation to prove they own your debt
• The debt amount is correct
• Your information in the lawsuit is correct

If they can’t meet the burden of proof, there is a good chance the court can and will dismiss your lawsuit. However, it is critically important that you respond to the summons. If you do not respond, several things will likely happen:

1. LVNV Funding LLC will get a default judgment against you, meaning you lose and the case is over.. Once you have defaulted, you will not be able to defend yourself. Though we have been able to help people within a few weeks of being defaulted.
2. LVNV will then enforce the judgment against you by freezing bank accounts, ordering your employer to garnish your wages, or getting liens on property. In Illinois this can continue for 27 years and they can add 9% interest annually.

Contact Chicago Consumer Law Center, P.C.

Our consumer protection lawyers have a track record of protecting consumer rights and explaining your options to you when a company like LVNV Funding takes you to court before they get a default judgment against you. Although the earlier you contact us, the better, no matter where you are in the process, you deserve to know your rights and what to expect. Give us a call at (312) 858-3240 or complete our online form to schedule your free strategy session.

 

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