As consumers, we often encounter challenging situations that require legal attention, such as lawsuits filed by debt collectors. In this blog post, we will provide valuable insights into lawsuits filed by Velocity Investments, LLC, a national purchaser of delinquent consumer debts. If you’ve been sued by Velocity Investments, it’s crucial to take immediate action to protect your rights and interests. Paramount Law, a trusted law firm specializing in representing consumers against debt collectors and credit reporting agencies, is here to assist you. Our experienced attorneys have a proven track record of successfully handling Velocity Investments lawsuits in Oklahoma and Louisiana. Learn more about our dedicated team and services by visiting our website. In fact, over the last 13 years, all of our lawsuits with Velocity Investments have resulted in a dismissal of the lawsuit with our clients paying Velocity nothing.
Who does Velocity Investments collect for?
Velocity Investments, LLC is a debt collection agency that purchases delinquent consumer debts. Some examples of companies whose debt Velocity Investments has purchased include LendingClub Corporation (Webbank), Upstart Network (Cross River Bank), Prosper Funding (WebBank), and Upgrade (WebBank). By acquiring debt from these companies, Velocity Investments aims to recover outstanding balances by taking legal action against consumers. It is important for consumers who find themselves facing a lawsuit from Velocity Investments to seek the assistance of experienced legal counsel, such as Paramount Law, to navigate through the complexities of the legal process and protect their rights.
Does Velocity Investments actually sue?
There is a common misconception that debt collectors do not file lawsuits. However, Velocity Investments, like other debt collection agencies, absolutely sues consumers to collect outstanding debts. It is important to take a lawsuit from Velocity Investments seriously, regardless of whether you believe you owe the debt or suspect an error. Failing to respond to a lawsuit can have severe consequences.
How to Respond to a Velocity Investements Lawsuit:
Upon receiving a Summons and Complaint from Velocity Investments, the first step to protect your rights is to file a written Answer with the court. This response, known as an Answer, allows you to address the claims made against you in the Complaint. Failure to respond may enable Velocity Investments to file a motion for a default judgment, granting them further rights to collect the debt, such as wage garnishment, bank account seizure, or the collection of attorney’s fees and court costs.
However, while consumers have the right to file an Answer to a lawsuit on their own, it is a highly risky process. Debt collection law firms representing Velocity Investments are well-prepared to deal with pro se consumers and often swiftly file a motion for summary judgment, upping the ante and the complexity. Without the guidance and expertise of an attorney, consumers may find themselves at a significant disadvantage in navigating the legal complexities of the case. Moreover, the longer a consumer waits to engage legal counsel, the more expensive it becomes for an attorney to “clean up the mess.” Depending on previous court orders, it may even be impossible for an attorney to help. Hiring an experienced law firm, such as Paramount Law, early in the process is essential to protect consumer rights and ensure a strong defense strategy is in place from the start.
Velocity Investments, as a debt collector, has the authority to report collection accounts to credit bureaus. A judgment from Velocity Investments may lower your credit score and make it difficult to obtain loans, credit cards, or favorable interest rates. Taking prompt action to address the debt collection lawsuit is crucial in mitigating the damage to your credit. By hiring Paramount Law, you can benefit from our expertise in debt collection defense and credit reporting matters. Our team will work diligently to challenge the debt’s validity, negotiate settlements, or explore other legal options to protect your creditworthiness and restore your financial standing.
Paramount Law specializes in representing consumers against debt collectors, including Velocity Investments. By engaging our experienced attorneys, you gain a strong advocate who understands the intricacies of debt collection lawsuits and will protect your rights throughout the legal process. In the last 13 years, all of our lawsuits with Velocity Investments have resulted in a dismissal of the lawsuit with our clients paying Velocity nothing. Paramount Law will evaluate your case and determine the best course of action. We will explore potential defenses, such as the statute of limitations, lack of proper documentation, or violations of debt collection laws. Our attorneys will develop a robust defense strategy to challenge the claims made by Velocity Investments and maximize your chances of a favorable outcome.
If you have been sued by Velocity Investments, it is crucial to act promptly and seek legal assistance. Paramount Law is dedicated to protecting consumers’ rights and specializes in debt collection defense against companies like Velocity Investments. Don’t face the legal battle alone – contact our skilled attorneys who will guide you through the process, protect your interests, and strive for the best possible outcome.
Remember, time is of the essence. Visit our website and learn more about our successful track record in handling Velocity Investments lawsuits. Take the first step toward protecting your rights by scheduling a consultation with our experienced Oklahoma and Louisiana debt collection defense lawyers. Contact us today and let us fight for you.
If you have been sued by Velocity Investments, don’t wait. Contact Paramount Law today for a consultation with our experienced Oklahoma and Louisiana debt collection defense lawyers. Visit our website to learn more about our services and track record of success in handling Velocity Investments lawsuits.