I’m being sued by LVNV … what should I do

Seeking Advice
1

I need some advice here. Quick background—I’ve been using the snowball method to tackle my debt and managed to go from $67K to $31K in two years.

Today, I got a letter from a bankruptcy attorney offering their help because I’m being sued by LVNV Funding LLC. I haven’t been served yet, but the letter had a case number. I looked it up, and yep, it’s real.

I’ve avoided bankruptcy because I’ve been making progress, and the law firm suing me is not far from where I live. I’m thinking about going over there to talk and see what my options are. Is this a bad idea?

I can start with small payments now and bigger ones in a few months since I just got a new job that will pay me $150K+ annually (but I won’t tell them that—don’t want to make myself a bigger target).

Would it be smart to meet with them, or should I take another approach?

2

You seem pretty good at negotiating. I think calling them to set up a payment plan is a good idea.

3

Haven said:
You seem pretty good at negotiating. I think calling them to set up a payment plan is a good idea.

Thanks! Do you think it would be better if I showed up at their office instead?

4

@Ben
Just showing up at their office might not go as you expect. They may not have time for you, and it’s better to schedule a call or email them first. These firms handle a lot of cases, so they probably won’t treat yours as special until you file an answer. Once you do, they know you’re serious, and you’ll have better luck negotiating.

When you talk to them, aim for a settlement—many firms will accept less than the total balance. Good luck!

5

@Vale
UPDATE: I went to their office this morning. I was nervous, but they actually sat down with me. We agreed on a $350 monthly payment plan to settle the debt at $8,000 instead of the full $15K. They’ll send the agreement to the judge for review, and I can avoid court if all goes well. They mentioned court costs could be added, but it’s up to the judge. Honestly, I feel a lot better now.

6

@Ben
Make sure you get everything in writing. If it’s signed off by the judge, it’ll protect you from a default judgment later.

7

@Ben
It’s better to make an appointment than to just show up. They probably have a lot of cases and might not be ready to meet with you on the spot.

8

@Ben
Always call to set an appointment first. Just walking in isn’t ideal for anyone involved.

9

Frost said:
@Ben
Always call to set an appointment first. Just walking in isn’t ideal for anyone involved.

I actually left an update near the top if you want to check it out.

10

Ben said:

Frost said:
@Ben
Always call to set an appointment first. Just walking in isn’t ideal for anyone involved.

I actually left an update near the top if you want to check it out.

I’m really glad it worked out for you. Congrats on the new job too!

11

@Frost
Thanks! It’s a huge relief.

12

That’s wild. I had an old collection with LVNV for $1,017, and it just fell off my record after 7 years. They never even contacted me.

13

Harlow said:
That’s wild. I had an old collection with LVNV for $1,017, and it just fell off my record after 7 years. They never even contacted me.

They usually don’t bother with smaller debts like that. This person owes a larger amount, which makes it worth their time.

14

It’s an interesting move. They’ve already filed the case, so showing up might not change much. But you might get their attention and could try negotiating. At the end of the day, they just want the money.

15

@Amari
True, and I’d rather avoid court. I think I can pay it off in installments, and I’m even willing to cover their court costs if it keeps me out of legal trouble.

16

Why would you ignore the debt if you’re about to start making $150K a year?

17

Alston said:
Why would you ignore the debt if you’re about to start making $150K a year?

Right now, I’m earning $48K a year. I don’t start the new job until April, so I’m still trying to get by on what I currently make.

18

@Ben
Got it. Thanks for clarifying!

19

You should call and see what settlement they offer. A lump sum is usually your best bet. Try negotiating for 50-65% of the total amount.

20

No need to go in person. Just call them, explain that you want to settle, and work out a plan. Don’t wait until it goes to court—it’ll only get worse. You’ve got this!