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Many collection agencies have become a lucrative business, taking the collection process to the very edge of the envelope. Debts which are owed are assigned rather than sold and there is a big difference between the two which affect you, the consumer. LVNV Funding LLC Collection is one of those collection agencies.

Original creditors are now assigning debts to collectors because they don’t have the time or the funds to chase down all the people that may owe them. Collection agencies seem to produce an endless source of revenue, churning out collectors from other countries and using techniques that seem like they came out of a textbook. By the way, most collection agencies now school their labor force in the art of aggressive collection techniques while coming close to skirting the brink of breaking the laws that protect consumers.

In fact, former collection agents from different collection agencies have testified that if an agent is able to intimidate a debtor into paying a debt (even one they may not legally owe), the agent will get a bonus and the company makes an enormous profit. Make sure the agency can prove you really owe the debt, that they purchased it, and don’t feel obligated to accomodate them until they do.

Wording on contracts can be tricky, so make sure you understand what you are reading. Phrases like “debtor agrees to be responsible for the payment of this debt to creditor or its assigns…” The “assigns” part of that language refers to a third party collection agency such as LVNV Funding Collection Agency. When you incur the debt, make sure you understand what you are reading.

There are parts of the FDCPA that will protect you and give you some relief from predatory collectors. Read the reference rules regarding Validation Letter or dispute letters. Remember, if they prove they purchased the debt, you still have some rights.

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