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How to Settle Debt with LVNV

Sarah Edwards | November 09, 2023

Sarah Edwards
Legal Expert
Sarah Edwards, BS

Sarah Harris is a professional researcher and writer specializing in legal content. An Emerson College alumna, she holds a Bachelor of Science in Communication from the prestigious Boston institution.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: If LVNV Funding is coming after you for a debt you supposedly owe, you have options. You can pay off the debt in full, set up a new payment arrangement, or settle the debt for less. There is a good chance you can settle the debt with LVNV if you first respond to any lawsuits against them, send a settlement offer after determining how much you can afford to pay, and keep track of all agreements in writing. SoloSettle can help you settle a debt with LVNV Funding and beat them in court.

LVNV Funding, LLC, based in Las Vegas, Nevada, is a large purchaser of consumer debt. The company holds a portfolio of overdue obligations and outsources collection of the debts to another organization, known as Resurgent Capital Services. If LVNV Funding purchases a debt you owe, you’ll likely start receiving letters and emails from Resurgent Capital.

LVNV has no accreditation with the BBB. However, there have been hundreds of complaints against the company, mostly related to improper validation of debts and harassing debt collection methods.

If you have a debt with LVNV, it’s best to take action quickly to stop matters from deteriorating further. You have several potential options: paying off the debt in full, setting up a payment arrangement, or settling the obligation. Above all, you don’t want to ignore the issue; your problems will likely only worsen.

Why should I pay off the debt with LVNV?

Paying off the debt is advisable to avoid a potential lawsuit and eliminate the obligation. When you pay off the debt, you’ll no longer have to worry about harassing phone calls or angry letters from LVNV. Once there’s no more money to collect, LVNV won’t have a reason to contact you.

When you pay off a debt with LVNV, they’ll report the account paid in full to the credit reporting bureaus. Once they make the report, your credit score will gradually improve. Over time, the account will fall entirely off your credit report.

Paying off the debt is best if you can afford to do it. There’s less harm to your credit score, and you won’t need to live in fear of a lawsuit.

Set up a payment arrangement with LVNV?

Yes, you can set up a payment arrangement with LVNV. A payment arrangement can keep the issue from escalating further. While making regular payments, you can save money toward a settlement or full payoff.

You can also increase the amount of your monthly payments to LVNV. As you pay more each month, you’ll reduce the balance you owe.

However, keeping your account information safe is essential if you decide to set up a payment arrangement with LVNV. Debt collectors aren’t the most honorable of organizations out there, and they’re known to occasionally overcharge you or debit your account at an unexpected time.

If you decide to set up a payment arrangement with LVNV, consider setting up a special bank account to which only they have access. You can ensure there’s enough money in the account each month for your payments. If they debit the account unexpectedly, it won’t affect your other obligations, like your rent or car payment.

It’s best to minimize your time on a payment plan with LVNV. If you can afford it, set up the payment arrangement for six months or less. The longer your payment plan lasts, the longer you’ll have to deal with the debt collector.

Don’t ignore LVNV

It is never a good idea to ignore a debt collector. Once they knock on your door, they’ll only escalate matters until they get a reaction from you.

If you don’t believe you owe the debt, you can ask them to validate it. Make them prove the following: the account belongs to you, the total amount due, and that the debt hasn’t exceeded your state’s statute of limitations.

If you’re the victim of identity theft, let LVNV know immediately. They’ll stop their collections process completely. You can send them supporting evidence, like a copy of your complaint with the Consumer Financial Protection Bureau (CFPB) and a police report. While the investigation process is underway, you can ask LVNV to remove any adverse reporting they give to the credit reporting bureaus.

LVNV is suing me. Can I settle my debt before my court date?

If LVNV is suing you, you’re in a challenging position. If they win their case against you, they can obtain a judgment that allows them to garnish your wages, freeze your bank account, or potentially seize your property.

That’s why it’s important to respond to your debt collection lawsuit against LVNV Funding as soon as you hear about it. You should respond with a written Answer. An Answer protects you from a default judgment, giving you time to work out a settlement.

Keep in mind that, since LVNV routinely purchases old debts, there is a good chance they’ll be willing to settle for a percentage of the original debt amounts. This is because LVNV usually buys these debt accounts for pennies on the dollar.

In fact, debt collectors like LVNV Funding purchase old debt accounts from banks or credit card companies for just 4% of the original debt amount on average.

Here’s an example.

Example: Jenna owes a credit card debt of $1,000. After several months of missed payments, the creditor charges off the debt and sells it to LVNV Funding for $40. They start contacting Jenna asking her to pay off the amount in full. If Jenna obliges, LVNV Funding will make a huge profit. Jenna decides to offer a settlement at 50% of the debt amount, or $500. LVNV Funding accepts and still ends up making a significant profit.


As you can see from the example above, debt collectors are often willing to accept a percentage of the debt as a settlement. You just have to determine what you can afford to pay off and what they might be willing to accept.

Keep reading to learn more about how to settle a debt with LVNV Funding.

Follow these steps to settle a debt with LVNV

Knowing you owe money to LVNV Funding is never a good feeling. Luckily, you can settle the debt and move on with your life. Here’s how.

Follow these three steps to settle your debt with LVNV Funding:

  1. Respond to the debt lawsuit against LVNV.
  2. Send a settlement offer to start negotiations.
  3. Get the settlement agreement in writing.

Below, we’ll break down each step a little further. Otherwise, you can check out this video to learn more:

First, if you’ve been sued for a debt by LVNV Funding, you must respond to their Complaint with an Answer. Even though you plan to settle your debt before the court date, debt collectors are sometimes known to use questionable tactics to get a judgment against you that they can use to collect the remaining balance.

If you respond to the lawsuit with an Answer, they can’t do that.

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Second, you’ll want to decide how much you can afford to pay in a settlement. We recommend that you start with at least 60% of the total value of your debt. For instance, if you owe $2,000, you can offer $1,200 in a settlement.

You can start the negotiation process by sending an offer to LVNV Funding at any point in the legal process. Try saying something like:

“I see you’re suing me for [$___] for [case number]. I don’t have that kind of money and I don’t agree with the amount. But I do have [$___] that I can pay within 30 days to settle the debt in full. Let me know if you accept.”

SoloSettle can help you send a settlement letter for debt in the form of an email to begin negotiations.

Give LVNV a few days to respond. They’ll likely have a counteroffer of their own. You may go through several rounds of negotiation before settling.

Third, once you have reached an agreement you’re comfortable with, get it in writing. A written contract protects you from future legal action for the same debt. You’ll want to ensure you abide by the terms of the agreement — so make sure you pay the money by the date it’s due.

Going forward, try to avoid allowing your obligations to sink into collections. If you can’t afford to make payments on a credit card or loan, try to work out an agreement with your creditor before the account is transferred to collections. Sometimes, creditors will be willing to give you leniency if they know you’re having financial problems.

SoloSettle negotiates a settlement for you and helps you manage your settlement agreement.

What is SoloSuit?

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