LVNV Funding Filed a Lawsuit Against Me — What Should I Do Next?
Hey everyone, looking for some guidance from people who’ve dealt with this before.
I recently found out that LVNV Funding filed a lawsuit against me over an unpaid balance that was originally from a charged-off credit card account. I haven’t officially been served yet, but I know it’s coming and I’m trying to prepare before making any mistakes.
A little background:
The debt is several years old
I’ve been actively working on rebuilding my credit
Some negative items have already been removed from my reports
My current Experian FICO is around the mid-600s
I’m trying to eventually buy a home, so I don’t want this lawsuit to wreck my progress
I’ve been researching:
Debt validation
Arbitration clauses
Settlements / pay-for-delete possibilities
Answering the lawsuit properly so I don’t get a default judgment
FCRA / Metro 2 reporting issues
My questions:
What should my FIRST step be once I get officially served?
Is it better to fight it, settle it, or try arbitration?
Has anyone successfully gotten LVNV dismissed due to lack of documentation?
If I settle, can I negotiate deletion from credit reports?
Should I get a consumer attorney immediately or wait until I’m served?
Anything I absolutely should NOT say or do?